by Linda Straker
- Revised fiscal reports to be published for some months between January and June 2025
- Grant from Saudi Arabia in January and ongoing UKCIF project not calculated
- Ministry aims to publish monthly fiscal reports on 15th of each month for previous month
Financial grants to Grenada exceed the amount calculated and published by the Ministry of Finance. Revised fiscal reports are scheduled to be published with new figures for some months between January and June 2025.
Mike Sylvester, Permanent Secretary in the Ministry of Finance, told reporters earlier in the week that some of the grants received by the ministry were inadvertently not calculated from the fiscal reports when they were published. “There is a revision to the month of January in particular and some of the other months to incorporate some grants that we received that were inadvertently not counted. So, we got, for example, the grant from Saudi Arabia that came in in January,” he said. “Those amounts were not calculated as part of the current grant, and of course, the UKCIF project that has been ongoing; those amounts were not calculated as part of the figures, so we are going to issue some revisions to the fiscal summary.”
A review of fiscal reports for the first 6 months of the year shows that the government received EC$19.5 million, though the targeted amount was EC$29.7 million. The breakdown shows that the amount received in January 2025 was EC$0.7 million; in February it was EC$3.8 million; in March it was EC$0.7 million; in April it was EC$3.3 million; in May it was EC$4.5 million, and in June it was EC$6.5 million.
The ministry aims to publish monthly fiscal reports on the 15th of each month for the previous month; however, this has not been the case in recent years. Fiscal reports are often published months after the due dates, without explanation.
