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$4 million deficit up to end of September

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While the country has recorded a deficit for the period up to the end of September, it is significantly less in comparison to the same period last year.{{more}}

During a press conference yesterday, Prime Minister Dr Ralph Gonsalves gave an update on the fiscal situation of the country up to the end of September 2014, in comparison to the same period in 2013.

He further stated that the deficit recorded for that period in 2014 was just over $4 million while it was $17.4 million in 2013.

In 2014, total revenue and grants was recorded at $405.9 million, an increase of almost six per cent when compared to the 2013 figure of $383 million.

Gonsalves also indicated that the current revenue, at the end of September 2014 was $375.2 million, while it was $341 million in 2013. This shows an increase of about 10 per cent.

In relation to total expenditure, the figures show a 5.5 per cent increase; $444.2 million in 2014 while it was recorded as $421 million in 2013.

According to the Prime Minister, there was an approximate 5.8 per cent increase in the recurrent expenditure, with the numbers being recorded as $379.2 million in 2014 up to the end of September, in comparison to $358.5 million for the same period in 2013. Also, the capital expenditure shows a four per cent increase for this period; $65 million in 2014 as compared to $62.5 million in 2013.

Gonsalves added that the overall balance remains roughly the same for the period – $38 million for 2014, compared to $37.3 million for 2013.(BK)

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