755 million in revenues have been collected for the first nine months of the year

CABINET NOTES: The 2024 budget calls for XCD1.2 billion in expenditure; the Ministry of Finance team reported that XCD755 million in revenues have been collected for the first nine months of the year.

Property taxes fell behind expectation, although other major revenue sources like the Customs and Excise Division are performing well.

The Cabinet invited a team from the Ministry of Finance, which included the Junior Minister, Financial Secretary, Debt Manager, Deputy Accountant General and the Deputy of the Inland Revenue Department to discuss the health of government-owned agencies. 

26 Government agencies were identified; 9 of those with recently audited financial statements were examined for profitability and liquidity.

The end result of this exercise led to the conclusion that the sample showed mildly healthy agencies that required reasonably small assistance from the central government.

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