ST GEORGE’S, Grenada, CMC—The Ministry of Finance says the country earned more revenue and grants during the first quarter of this year than projected in the budget.
The projection was for EC$342.2 million (One EC dollar = US$0.37 cents), but Ministry of Finance records have revealed that the actual revenue and grants collected were EC$371.8 million.
During the same period, the total expenditure was effectively managed, coming in at EC$267.1 million, which is significantly less than the projected amount, showcasing Grenada’s prudent financial management.
The fiscal report for the first quarter shows that the projected expenditure was EC$316.6 million. The Citizenship Investment by Investment program’s revenue for the first quarter was EC$117.3 million, but the projection was EC$95.9 million.
According to the latest data from the Ministry of Finance, Grenada earned more than EC$1 billion in revenue through the CBI program in 2023.
The fiscal report ending March 2024 shows that tzex0 on properties, goods, and services increased significantly while income tax, profits, and international transactions decreased.
Furthermore, revenue from properties saw a substantial increase, reaching EC$15.4 million, more than doubling the projected amount, a promising sign for Grenada’s economic growth.
and then 