by Linda Straker
- More than EC$90 million reduction in revenue from January to April 2025 when compared to same period in 2024
- Most significant reduction was revenue from the Citizenship by Investment (CBI) programme
- Current revenue collections fell short of projections, mainly due to decline in non-tax miscellaneous revenues
A review of monthly fiscal reports for the period from January to April 2025, as published by the Ministry of Finance, shows a significant reduction in revenue compared to the same period in 2024, a difference of more than EC$90 million.
For the collective months of January, February, March and April 2025, the government’s total revenue collection was EC$412.2 million, while for the year 2024, the revenue collected for the same period was EC$505 million.
The most significant reduction was in revenue from the Citizenship by Investment (CBI) programme, which for the period in 2024 earned EC$160.9 million; however, in 2025, the amount earned was EC$69.4 million, representing a difference of EC$91.5 million.
The amount collected from CBI exceeded the projected amount by the Ministry of Finance — EC$61.7 million. The actual collection was EC$69.4 million.
For the period under review, the amount earned by Customs and Excise was EC$156.7 million, which exceeds the projected EC$151.9 million for the same period in 2025 and surpasses the EC$149.2 million collected in 2024.
The Inland Revenue Department (IRD) collected EC$169.3 million for the period from January to April, which exceeded the projected EC$168.3 million for the same period. For the same period in 2024, the revenue earned through the IRD was EC$171.7 million.
The reports said the reduction was due to a decline in non-tax miscellaneous revenue. As of January 2023, the Ministry of Finance began reporting all CBI revenues as non-tax revenues. Previously, it was described as grants to the government.
“Current revenue collections fell short of projections, mainly due to a decline in non-tax miscellaneous revenues,” said the April 2025 Fiscal Report, which explained that for April 2025, the primary and overall deficits were recorded at –$21.8 million and –$25.6 million, respectively, exceeding the monthly targets.
“However, for the January to April 2025 period, both the primary and overall deficits remained well within the established targets.” The fiscal reports are publicly available on the Ministry of Finance website.
Economics in real life is very hard because its variables are always moving. The bottom line is this, all elements of a country’s GDP needs to be looked at. Consumption, investment, Ney exports and government spending. The tax burden fornlocals is just too high. Now, unless we can participate in the export market in a meaningful way, there isn’t much that can be done unless we really examine a formula within the formula that will work. High government spending must be balanced with strong and sustainable investments that will create jobs and increase productivity in areas that are scarce. We need to determine whether there is room to add value to our treasury via taxes or fees on foreign investment that would not dilute our competitiveness in attracting those opportunities. Consumers must be able to work with more real disposable income so that price hikes does not result in sudden halts in spending or forcing consumers to resort to increased debris burden to finance things their salaries or wages should. External shocks will always be a reality. This is why we ought to manage our economy in a manner that permits us to survive when global policies force our purse. Reimagining how we plan, execute and deliver is a must. Every major government expenditure must see economic opportunities for growth and development. These things must be rigorously measured and addressed in a timely manner. Grenada can be much more than a small developing island but it takes discipline and collective effort to turn brilliant ideas into reality.
Here’s the solution to your problems. Tax those people who are CBI but NOT REAL CITIZENS of Grenada who contribute nothing to the country after the initial investment.
You have everyone bragging about how to get a Grenadian passport and never have to pay taxes on their investment. How stupid is this. They need to pay yearly property taxes to continue to support all the ESSENTIAL SERVICES like power, water, roads, police, coastguard, recycling, disasters like hurricanes. Why should such a small investment allow them to enjoy Grenada while the rest of us struggle to live paying inflated prices. You need to stop gouging the diaspora who are loyal in their support of Grenadians when they send parcels and supplies via post and shipping. A duty free gift level of say value $100 EC and under.
Stop selling off our land and environment to foreigners who just cover our most important assets under concrete. NO MORE hotels, especially on the beaches. Enforcement and fines for those who deny access to the beaches including Sandals or anyone else.