Government Reports $755 Million in Revenue for First Nine Months

The government of Antigua and Barbuda has reported that it has collected almost EC $800 million in revenue for the year.

This update was provided during a recent Cabinet meeting, where the Ministry of Finance presented an overview of the 2024 budget.

The proposed budget details total expenditures of EC $1.2 billion. The financial team noted that revenue collection for the first three quarters of the year reached EC $755 million.

Although property taxes did not meet expectations, other significant revenue sources such as the Customs and Excise Division performed well, according to the Cabinet.

This information was shared during a meeting attended by key financial officials, including the Junior Minister, Financial Secretary, Debt Manager, Deputy Accountant General, and the Deputy of the Inland Revenue Department.

The discussion also involved an evaluation of the financial status of government-owned agencies.

“Twenty-six Government agencies were identified, and financial statements from 9 of these were recently audited and examined for profitability and liquidity.

The findings indicated that the sampled agencies showed relatively good financial health and required minimal assistance from the central government,” the report states