Cabinet Meeting (photo courtesy Office of the Prime Minister)
The Government of Antigua and Barbuda says the country’s economy continues to demonstrate strong fiscal resilience, with increased revenue collections, disciplined public spending and significant reductions in external debt positioning the nation for continued growth and investment.
The positive outlook was outlined in the Ministry of Finance’s Second Quarter Fiscal Performance Report, which was presented to Cabinet on Wednesday. The report highlighted robust customs revenue, prudent expenditure management and continued progress in strengthening the country’s financial position.
Cabinet heard that the Antigua and Barbuda Customs and Excise Division continues to outperform previous years, reflecting stronger compliance, enhanced enforcement measures and sustained economic activity.
Customs collected EC$276.85 million during the first six months of 2026, surpassing the EC$255.37 million recorded during the corresponding period in 2025. June alone generated EC$35.97 million in revenue.
The figures continue a steady upward trend in collections over the past four years. Customs revenue has increased from EC$392 million in 2022 to EC$402 million in 2023, before rising sharply to EC$502 million in 2024 and reaching a record EC$573 million in 2025.
Cabinet commended the Comptroller and staff of the Customs and Excise Division for strengthening revenue administration, noting that the improved collections have enhanced Government’s capacity to meet its financial obligations while funding key national priorities.
The report also underscored Government’s disciplined approach to public spending.
During the second quarter, excluding payroll expenses, Government processed 38 discretionary payments totaling EC$158.8 million, supporting critical infrastructure, healthcare, tourism and statutory obligations.
Among the largest allocations were EC$44.2 million through the Capital Infrastructure Development Fund for major public works projects, EC$16.37 million for the Sir Lester Bird Medical Centre, EC$12.76 million for the Antigua and Barbuda Tourism Authority and EC$6.35 million toward obligations to the Eastern Caribbean Central Bank.
Cabinet also welcomed what it described as another major milestone in the country’s debt management strategy.
Outstanding loans financed by the People’s Republic of China have been reduced from more than US$300 million to approximately US$120 million, reflecting years of prudent fiscal management, sustained economic growth and improved revenue performance.
The Government also confirmed that the loan associated with the Sir Lester Bird Medical Centre has now been fully repaid.
Cabinet said the reduction in debt has strengthened Antigua and Barbuda’s fiscal resilience, expanded the country’s ability to invest in national development and reinforced confidence in the country’s macroeconomic stability.
The report further noted that Antigua and Barbuda’s strong fiscal position has enabled Government to maintain retail fuel prices despite continued volatility in global energy markets.
Following participation in an International Monetary Fund (IMF) and Eastern Caribbean Currency Union (ECCU) Fuel Price Study, Cabinet agreed to keep gasoline at EC$14.50 per gallon and diesel at EC$14.25 per gallon, among the lowest prices within the currency union.
Members said absorbing rising international fuel costs rather than passing them on to consumers reflects Government’s commitment to protecting household purchasing power, supporting businesses and preserving economic growth.
Cabinet reaffirmed that continued improvements in revenue performance, coupled with disciplined expenditure management, will enable Government to finance strategic investments in healthcare, education, infrastructure, public safety and other essential services while maintaining a stable macroeconomic environment.
The report was presented as further evidence of what Cabinet described as the Government’s commitment to sound fiscal management, responsible stewardship of public finances and policies aimed at safeguarding the country’s long-term economic prosperity.
I think after CIP Customs is the next highest revenue erner for the country. I could be wrong