by Linda Straker
- Shortfall primarily driven by weaker performance in taxes on domestic goods and services
- Total revenue collections for January to July, EC$20.8 million above target
- Grant inflows in July EC$9.7 million above target
Weak performance in taxes and domestic goods and services resulted in Grenada’s revenue for July 2025 totalling EC$97.1 million, and EC$3.3 million below target according to the Ministry of Finance.
“This shortfall was primarily driven by weaker performance in taxes on domestic goods and services. Compared to July 2024, collections in July 2025 were EC$162.9 million lower, reflecting the exceptional revenues received from the CCRIF payout and the CBI programme,” according to the July 2025 fiscal report published on the Ministry of Finance website.
Despite the shortfall in July, the ministry said total revenue collections for the period January to July 2025 amounted to EC$749.2 million, which was EC$20.8 million above target. Total collections at the end of July 2024 were EC$988.6 million or EC$239.4 million more for the same period in 2025.
“From January to July 2025, Grenada’s fiscal performance was largely in line with expectations, reflecting prudent fiscal management and a commitment to meeting budgetary targets.” The ministry pointed out that revenue received through grants amounted to EC$15.8 million in July. “Grant inflows amounted to EC$15.8 million in July 2025 — EC$9.7 million above target and EC$14 million higher than receipts in July 2024. Total income from grants stood at $44 million at the end of July 2025. This was $8.3 million above projections and $30.5 million higher than receipts during the corresponding period of last year,” said the July fiscal report.
In the area of Expenditure, the report said that Current Expenditure exceeded projections in July 2025 by EC$4.6 million, reaching EC$89.4 million, which was EC$25.7 million higher than current spending in the corresponding period of last year.
“Total Recurrent Expenditure stood at EC$540.3 million for the period January to July 2025, EC$56.4 million below programmed level. However, this performance was $46.4 million more than the $493.9 million realised during the same period in 2024, driven primarily by higher transfers and subsidies related to pension payments and IMA expenses,” said the report.
With regards to Capital Expenditure, in July 2025, it amounted to $51.4 million, surpassing both the monthly target of $41.8 million and the July 2024 figure of $19.9 million. “For the period January to July 2025, capital expenditure amounted to $264 million, $29.3 million more than programmed level and $127 million more than actual spend in the same period in 2024, reflecting accelerated implementation of capital projects,” the report said.
