Antigua and Barbuda recorded a 42% increase in revenue collections in 2024, according to Financial Secretary Rasona Davis-Crump.
The announcement was made during the National Service of Thanksgiving at St. John’s Pentecostal Church on Sunday.
Preliminary data shows that the revenue boost has exceeded projections made at the start of the year.
Initially, the Ministry of Finance anticipated a fiscal deficit of 1.3% of GDP and a primary surplus of just under 1%.
However, updated figures now indicate an overall fiscal surplus of 1.4% of GDP, equivalent to $86.4 million, and a primary surplus of 3.5%.
The increase in revenue has been attributed to growth in key sectors such as tourism and construction. Cruise arrivals rose by 23% to over 820,000 visitors, while stay-over arrivals grew by nearly 20%.
The construction industry contributed an estimated $1 billion in value during the year.
The improved revenue collections come alongside a projected decline in the debt-to-GDP ratio, which is expected to fall from 75% to 62%.
Davis-Crump also noted the significance of these developments for the country’s fiscal performance, with implications for the broader economy as Antigua and Barbuda prepares for 2025.
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WONDERFUL NEWS!!!! Lovell/UPP allowed a certain hotel to hold on to our ABST monies!
Public Servants salary increase for these years:
2021: 0%
2022: 0%
2023: 0%
Tell us about that Rasona. We are waiting.
Just look at you, Mam. Do you really believe that stuff you are spitting out for the Brown Dog?
If it was Lovell who wanted you to say all that even though it is not true, you would be up in his face letting him know you can’t because it is not so. You had that kind of attitude.
But, you can’t do that with your new boss, can you? No, no, no.
The days of talk as you like, say as you like, throw around your weight as you like only happened under Lovell because life was easy and he did not hold you and the others to account. Anything you all tell him he took your word because as he like to boast, boast too much in fact, you all were the technocrats and you knew your thing and should be respected.
Respect? Not getting much of that these days, are you?
You look like a hostage now.
You were the queen bee and the other government ministries and departments that depended on information from finance had to bow down to get them.
Lovell was right to let you all do your job. That is good management. But he was wrong to give you all so much power and big up.
Sure thing you all miss him even though you all used to run him down so much. One used to take information from his office and give it to Weston.
Now you have the Brown Dog.
Is like man with good wife who treat she bad and throw she out. Bring in the new one and she make him fraaaat.
If you want to know where you are now watch the movie ‘Diary of a mad black woman’. You might learn something. It made me a better man.
The “mad black woman” is at the helm of the strings that control her puppet Pringle! Remmeber she have MORE BALLS than all the “men” in the party that John Ashe gave kickbacks and bribe monies to.
0% distribution in social security payouts…