The Grena­da gov­ern­ment record­ed a de­cline of more than EC$90 mil­lion (One EC dol­lar=US$0.37 cents) in rev­enue for the first four months of this year as com­pared with the same pe­ri­od last year, ac­cord­ing to fig­ures pub­lished by the Min­istry of Fi­nance.

The min­istry said that for the pe­ri­od Jan­u­ary to April this year, the gov­ern­ment’s rev­enue stood at EC$412.2 mil­lion as com­pared with EC$505 mil­lion for the same pe­ri­od last year.

It said that the most sig­nif­i­cant re­duc­tion was rev­enue from the Cit­i­zen­ship by In­vest­ment (CBI) pro­gramme un­der which Grena­da pro­vides cit­i­zen­ship to for­eign in­vestors in re­turn for mak­ing a sig­nif­i­cant in­vest­ment in the so­cio-eco­nom­ic de­vel­op­ment of the coun­try.

Ac­cord­ing to the fig­ures, in the first quar­ter of last year, the coun­try earned EC$160.9 mil­lion in rev­enue from the CBI as com­pared with EC$69.4 mil­lion for this year, a short­fall of EC$91.5 mil­lion.

The Min­istry of Fi­nance had ear­li­er pro­ject­ed that the gov­ern­ment would earn EC$61.7 mil­lion for the same pe­ri­od this year, but the ac­tu­al col­lec­tion was EC$69.4 mil­lion.

Ac­cord­ing to the da­ta, the Cus­toms and Ex­cise col­lect­ed EC$156.7 in rev­enue dur­ing the first four months, which more than the EC$151.9 that had pro­ject­ed for the pe­ri­od, as well as sur­pass­ing the EC$149.2 mil­lion col­lect­ed in 2024.

The In­land Rev­enue De­part­ment (IRD) col­lect­ed EC$169.3 mil­lion, a slight de­cline for the same pe­ri­od in 2024, when the rev­enue earned was EC$171.7 mil­lion.

The min­istry said the re­duc­tion was due to a de­cline in non tax mis­cel­la­neous rev­enue. As of Jan­u­ary 2023, the Min­istry of Fi­nance be­gan re­port­ing all CBI rev­enues as non-tax rev­enues. Pre­vi­ous­ly it was de­scribed as grants to the gov­ern­ment.

“Cur­rent rev­enue col­lec­tions fell short of pro­jec­tions, main­ly due to a de­cline in non-tax mis­cel­la­neous rev­enues,” said the April 2025 Fis­cal re­port which ex­plained that for April 2025, the pri­ma­ry and over­all deficits were record­ed at -$21.8 mil­lion and -$25.6 mil­lion, re­spec­tive­ly, ex­ceed­ing the month­ly tar­gets.

“How­ev­er, for the Jan­u­ary to April 2025 pe­ri­od, both the pri­ma­ry and over­all deficits re­mained well with­in the es­tab­lished tar­gets,” said the fis­cal re­port which is pub­licly avail­able on the web­site of the Min­istry of Fi­nance.