Government Operations Results for May 2021

July 5, 2021

Government Operations Results for May 2021

For the period of April to May 2021, the GOJ reported Total Revenues & Grants of $118.58 billion, $8.11 billion more than the Government’s projection. This represented an increase of approximately 58.9% relative to the $74.62 billion recorded for the corresponding period in 2020. ‘Tax Revenue’ and ‘Capital Revenue’ outperformed projections during the review period. ‘Tax Revenue’ amounted to $79.89 billion, $8.13 billion more than budgeted. ‘Capital Revenue’ amounted to $778.20 million during the review period. ‘Non-tax Revenue’ of $37.46 billion was reported, $555.7 million less than budgeted. “Grants” closed the period at $445.70 million, $242.80 million less than the budgeted amount. Notably, no budgeted amount was booked for ‘Bauxite Levy’ and ‘Capital Revenue’.

Expenditures

Total Expenditure for the period April to May 2021 amounted to $113.82 billion, $8.1 billion less than the budgeted amount of $121.92 billion. Recurrent expenditure which totalled $101.33 billion, accounted for 89.02% of overall expenditures. Of the recurrent expenditure categories for the review period, the categories above the budgeted amount were ‘Employee Contribution’ and ‘Interest’. ‘Employee Contribution’ amounted to $4.55 billion and was $201.20 million or 4.6% more than budgeted while ‘Interest’ totalled $18.80 billion, 3.1% above the budgeted amount of $18.23 billion. Relative to projections, ‘Programmes’ totalled $41.77 billion, 14% less than budgeted. Additionally, ‘Compensation of Employees’ totalled $40.75 billion, 0.6% less than the budgeted amount of $41.01 billion.

The ‘Fiscal Surplus’ was $4.76 billion, relative to a ‘Projected Deficit’ of $11.46 billion. Additionally, the ‘Primary Surplus Balance’ for the period amounted to $23.56 billion, relative to the budgeted Primary Surplus of $6.78 billion.

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2021-07-05T14:44:28-05:00