Grenada’s fiscal performance for July 2025 revealed a mixed picture, with revenue collections falling short of targets while overall fiscal management remained robust. According to the Ministry of Finance’s July 2025 fiscal report, revenue for the month totaled EC$97.1 million, EC$3.3 million below the projected target. This shortfall was primarily attributed to weaker performance in taxes on domestic goods and services. Compared to July 2024, collections were significantly lower by EC$162.9 million, largely due to the absence of exceptional revenues from the CCRIF payout and the Citizenship by Investment (CBI) programme.
Despite the July shortfall, the cumulative revenue for the period January to July 2025 stood at EC$749.2 million, surpassing the target by EC$20.8 million. This performance underscores the government’s prudent fiscal management and commitment to budgetary goals. Additionally, grant inflows in July 2025 amounted to EC$15.8 million, exceeding the target by EC$9.7 million and representing a substantial increase of EC$14 million compared to July 2024. By the end of July 2025, total grant income reached EC$44 million, EC$8.3 million above projections and EC$30.5 million higher than the same period in 2024.
On the expenditure side, current spending in July 2025 exceeded projections by EC$4.6 million, totaling EC$89.4 million. This was EC$25.7 million higher than the corresponding period in 2024. However, total recurrent expenditure for January to July 2025 was EC$540.3 million, EC$56.4 million below the programmed level but EC$46.4 million more than the same period in 2024. This increase was driven by higher transfers and subsidies, particularly for pension payments and IMA expenses.
Capital expenditure also saw significant growth, with July 2025 spending reaching 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 first seven months of 2025, capital expenditure amounted to EC$264 million, EC$29.3 million above the programmed level and EC$127 million more than the same period in 2024, reflecting accelerated implementation of capital projects.