Revenues Down

Finance Minister Dr. Peter Phillips, says government revenues performed below expectations up to the end of July this year.

Dr. Phillips made the disclosure as he updated the House of Representatives on the performance of the crucial economic indicators under the four year extended fund facility with the IMF.

According to the Finance Minister, the revenues picked up in August, thanks to a grant receipt from the European Union.

Dr. Phillips says the revenue performance of public bodies has also fallen short of target.

Given the downturn in revenues, Dr. Phillips says the country’s main tax collectorate has been mandated to step up its game.

Dr. Peter Phillips, Finance Minister, speaking today in Gordon House.