Government Revenues Increase -Treasury Quarterly Bulletin

The Treasury Quarterly Bulletin (2018 Fourth Quarter) released on Wednesday suggests that government revenues have increased.

A Herald report attributes the rise in revenue collected to fiscal stabilisation measures as espoused in the national economic blueprint, the Transitional Stabilisation Programme (TSP).

The report indicates that revenues rose by 43,4 percent to US$1,69 billion, surpassing the set target of US$1,18 billion. Reads the report in part:

This fourth quarter performance also represents a phenomenal 60 percent increase from the collections of US$1,06 billion recorded during the same period in 2017.

Similarly, fourth quarter revenues surpassed third quarter revenues of US$1,3 billion by 31,3 percent, reflecting high inflation impact, as well as the introduction of the Intermediated Money Transfer Tax (IMTT) in November.

The report also suggests that taxes were major contributors to revenue collections.

It also divulges that expenditure in the fourth quarter was higher than the projected. Employment costs, interest on debt and operations, and maintenance were cited as major contributors to the sad trajectory.


More: The Herald

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