ST. GEORGE’S, Grenada, CMC – The Grenada government received EC$13 million ( One EC dollar=US$0.37 cents) less in grants from local, regional, and international donors during the first four months of this year, as compared to 2022, the Ministry of Finance has reported.
It said the government received EC$5.1 million in grants of targeted EC$18.1 million. Total donations in January 2023 amounted to one million dollars, which was EC$2.3 million less than the target and EC$4.9 million less than the actual in January 2022. In February, the country received EC$0.5 million in grants, four million dollars less than the target and six million less than the actual in February 2022.
In March, grants amounted to EC$3.3 million, which was EC$2.2 million less than the target and EC$97.3 million less than the actual in March 2022, which included an EC$81 million from St. George’s University. Total grants in April stood at $300,000, EC$11.2 million less than the actual in April 2022 and EC$4.5m less than the 2023 targeted amount.
While the government received significantly less in grant funding, it was able to collect more in actual revenue than what was targeted for the period January to April 2023.
The figures released by the finance ministry showed that while the government had projected to collect 346.8 million dollars, actual collections amounted to EC$391 million. However, that amount was less than the amount collected for the same period in 2022. The government’s revenue for January to April 2022 was EC$416.5 million.
In the period under review, the total expenditure was EC$302.4 million, less than the targeted amount of EC$325.5 million. For the same period in 2022, the actual spending was EC$298.7 million.
Revenue for the period January to April from the Citizenship by Investment (CBI) program was EC$ 78.2 million, approximately EC$35 million more than expected. For the same period last year government collected EC$114.6.
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