by Linda Straker
- For June, CBI was biggest revenue earner, earning EC$48.9 million
- 980 new citizens during first quarter
- Government projects it will earn EC$240,461,920 for 2023
From January to June 2023, the Citizenship by Investment (CBI) programme earned EC$157 million for the Government. This surpasses the amount earned in any given year since the programme began in 2014.
Despite earning this massive revenue intake, the top revenue earners were the Inland Revenue Department which earned EC$229.3 million and the Customs Division, which earned EC$211.7 million for the same period.
For June, the CBI was the biggest revenue earner when it surpassed the targeted amount of EC$22.3 million, by EC$26.6 million, earning EC$48.9 million the June 2023 fiscal report revealed.
The Ministry of Finance is yet to upload the number of people who gained citizenship through CBI for the second quarter of 2023, but the number of people becoming citizens during the first quarter was 980. Out of that number, 167 were through the National Transformation Fund (NTF) investment and 813 Approved Projects investment.
A review of the 2023 Estimates and Revenue shows that the Government projects it will earn EC$240,461,920 for the year. Several capital projects of the Government are also set to be funded with revenue from the CBI programme.
In general, revenue for the month of June 2023 surpassed the targeted projection by EC$44.4 million. “Current Revenue for June 2023 was $131.2 million, which was $44.4 million more than the 2023 target and $66.6 million more than the collections for June 2022. Total Grants in June 2023 amounted to $1.9 million which was $2.2 million less than the target, and $11.2 million less than the actual in June 2022,” said the June fiscal report published on the Ministry of Finance website.
Posted during the first week of August 2023 the report also shows that the total Current Expenditure, excluding principal repayments for the month of June was $51.4 million. This was $7.8 million less than the $59.2 million targeted.
“Capital Expenditure in June 2023 was $19.0 million or $16.4 million less than the amount spent in June 2022 and above the $18.9 million targeted for the month this year.” The 9-page fiscal report also showed that a primary balance (including grants) of $64.1 million was recorded for the month of June 2023.
“This was $47.4 million more than the month’s target and $70.9 million more than the amount recorded in June 2022. Principal Repayments on Debt for June 2023 was $4.1 million, while interest payments totalled $1.4 million,” the report said.
To the genadas citizens because your government or governments of your country has sold your passports because of the CBI citizens have to now have a visa to come to the UK so you can now blame your governments for this and I do feel sorry for you all greed it’s not a good thing I am hoping that your government will change its mind and stop selling passports and make it easy for its citizens to travel to the UK and beyond plus I’m hoping that your government will set up in Grenada and office which you can get your visas easily instead of going to Barbados and I hope they will stop selling passports in CBI so you can get your visas etc easily but but I think that is not going to happen but I do hope so my heart goes out to you all
I can see now that citizens in Grenada don’t care about themselves about all this money going to the rich so don’t moan about it because the rich get richer and the poorer I get poorer so who’s false that is a shame that you citizens can’t speak up so you have to now live in a third world countries and live pora if you can’t take it and stand up then that’s your fault no one else is so don’t moan about it well this money going to because no one is actually said anything about it in this report or any comments on this so it’s your fault
My messages are for all politicians in government not in governments the oppositions this money is for your citizens action speaks louder than words so my message to all your politicians upper and lower House of representatives i.e all politicians look after your citizens your poorer citizens they deserve better service and what they are getting at the moment so come on politicians you were voted in look after them actions speaks louder than words remember that
Look at st Vincent he will see they have not sold their passports so they can have a free range of going to the UK and beyond visa free zone
To the to the Grenada government all departments action speaks louder than words just remember you are all voted in to make your country great so all this money can go back into your country for the poorer citizens of Grenada as they all say action speaks louder than words let’s say if you’re true to form your citizens needs help it’s not just for the rich or famous it’s for the every day citizens of your country so remember who voted you in so help all citizens who needs help who will come to you for help or you can see who needs help help them all leaders of old departments should go around and look around your area to see who needs help and help them they are your citizens they are your countrymen and they all need help so just remember action speaks louder than words prove it to your citizens that you do care about your citizens not just say it prove everybody wrong and help your citizens who needs help urgently people who are homeless sick disabled and their houses are run down because of the storms help them not just for the rich
And help the poorer citizens of Grenada which houses have been blown down in 2004 give these people help to build their homes and still not properly built there are some in the laboire Boca’s area and st George’s area just some examples of areas of your country all over your country. St Dave’s etc etc etc. Look after your citizens not just for the rich to all citizens who need help if you’re earning this kind of money you need to help the poorer citizens better help to build homes better pensions healthcare zoos activities for the young and old better shopping experiences cheaper food local products roads the whole shebang be like other Caribbean countries who have better services for their citizens and housing benefit unemployment benefit pensions benefits sick benefits etc etc
Now Grenada’s government can now spend this money to the poor people in its country so you made money from the rich now give it to the poor proper healthcare proper pensions proper housing proper everything for the poorer citizens of Grenada you made all this money so give it to the poorer citizens of your country and look after them not just the rich