Government Operations Results for October 2020

December 2, 2020

Government Operations Results for October 2020

For the period of April to October 2020, the GOJ reported Total Revenues & Grants of $298.68 billion, $2.88 billion more than the Government’s projection. This represented a decrease of approximately 16.7% relative to the $358.76 billion recorded for the corresponding period in 2019. ‘Tax Revenue’, ‘Grants’ and ‘Non-Tax Revenue’ all outperformed projections during the review period. ‘Tax Revenue’ amounted to $261.69 billion, $2.42 billion more than budgeted. ‘Non-tax Revenue’ of $33.46 billion was reported, $11.7 million more than budgeted. ‘Grants’ amounted to $3.51 billion during the review period and outperformed the budget by $444.50 million. Notably, no budgeted amount was booked for ‘Bauxite Levy’. ‘Capital Revenue’ closed the period with a provisional amount of $22.10 million, corresponding with the budgeted amount.


Total Expenditure for the period April to October 2020 amounted to $370.80 billion, $87.70 million less than the budgeted amount of $370.88 billion. Recurrent expenditure which totalled $343.38 billion, accounted for 92.61% 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 $8.28 billion and was $108.1 million or 1.3% more than budgeted while ‘Interest’ totalled $75.71 billion, 0.6% above the budgeted amount of $75.28 billion. Relative to projections, ‘Programmes’ totalled $138.43 billion, 0.6% less than budgeted. Additionally, ‘Wages and Salaries’ totalled $120.95 billion, 0.1% less than the budgeted amount of $121.06 billion.

The ‘Fiscal Deficit’ was $72.11 billion, relative to a ‘Projected Deficit’ of $75.07 billion. Additionally, the primary surplus balance for the period amounted to $3.60 billion, relative to the budgeted primary surplus of $210.70 million.


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