The Grenada government says weaker performances in taxes and domestic goods and services led to a decline in revenue collection during the month of July this year, despite the country recording almost EC$750 million(One EC dollar=US$0.37 cents) during the first seven months of this year.
The Ministry of Finance said that revenue for July was EC$97.1 million, an estimated EC$3.3 million below the target.
‘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$$162.9 million lower, reflecting the exceptional revenues received from the CCRIF payout and the CBI programme,’ according to the July 2025 fiscal report published by the ministry.
But it said despite the shortfall in July, total revenue collections for the period January to July this year amounted to EC$$749.2 million, which was EC$$20.8 million above target as compared with the total collections for the same period in 2024 which stood at EC$$988.6 million.
‘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,’ according to the ministry, noting 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 EC$44 million at the end of July 2025. This was EC$8.3 million above projections and EC$30.5 million higher than receipts during the corresponding period of last year,’ according to the July 2025 fiscal report.
In the area of expenditure, the report states that Current Expenditure exceeded projections in July 2025 by EC$4.6 million, reaching EC$89.4 million, 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 realized during the same period in 2024, driven primarily by higher transfers and subsidies related to pension payments and IMA(Immigration Migration Agency) expenses,’ said the report.
With regards to Capital expenditure, in July 2025 that amounted to EC$51.4 million, surpassing both the monthly target of EC$41.8 million and the July 2024 figure of EC$19.9 million.
‘For the period January to July 2025, capital expenditure amounted to EC$264 million, EC$29.3 million more than programmed level and EC$127 million more than actual spend in the same period in 2024, reflecting accelerated implementation of capital projects,’ the report noted.