$580 Million Budget To Be Financed Through Mix Of Revenue, Grants And Loans

Published

9 years ago

May 13, 2016

The 2016/17 budget of $579.9 billion is to be financed through a mix of revenue, grants, loans and inflows from the PetroCaribe Development Fund.

Opening the Budget Debate yesterday afternoon, Minister of Finance and Public Service, Audley Shaw indicated that revenue and grant inflows for the year are estimated at $486.6 billion and consist of tax revenue of $447.4 billion, non-tax revenue of $30.5 billion, bauxite levy of $2.8 billion, capital revenue of $0.7 billion and grants of $5.2 billion.

He says loan inflows expected from both domestic and external sources are programmed at $89.4 billion, $41.9 billion of which is to be raised in the domestic market and $47.5 billion from external sources.

The Minister says the Government plans to issue Treasury Bills valued at $14 billion and other market instruments valued at $27.9 billion in the domestic market.

Externally, the Finance Minister indicated that flows are expected from the multilateral institutions in the form of investment loans.

He says budget support loans and investment loan flows are also anticipated from the People’s Republic of China.

Total investment loans are programmed at $17.6 billion, while budget support loans of $29.9 billion are expected.

Minister Shaw says the PetroCaribe Development Fund is also expected contribute to financing the 2016/17 fiscal year budget, as it is to pay over $14.5 billion to the Central Government.

He says the total inflows add up to $590.6 billion, representing an additional $10.6 billion required to fund debt due early in the 2017/18 fiscal year.

John Mahfood “I Listed on the JSE to Raise Capital for My Business”

Published

8 years ago

November 24, 2016

Managing Editor

JSE Online Trading Platform

Published

8 years ago

November 24, 2016

Managing Editor

Grace Stockholders To Vote On 3-for-1 Stock Split Today

Published

9 years ago

July 11, 2016

BusinesSuiteOnline

Shareholders of GraceKennedy Limited will this morning meet to consider and, if thought fit, approve a recommendation for a three-for-one stock split.

If approved, shareholders will receive three stocks for each one that is currently held.

According to group CEO Don Wehby, the stock units with a market price of J$115.00 per stock unit prior to the split will now increase threefold with an initial price of J$38.33 per stock unit

He says the stock split would allow GK’s stock to be made available to more investors while further enhancing the market for the shares.

Ahead of this morning’s Extraordinary General Meeting, GK last week issued 59,360 additional GK shares.

UK Loses S&P Triple A Rating

Published

9 years ago

June 27, 2016

BusinesSuiteOnline

The UK has lost its top AAA credit rating from ratings agency S&P following the country’s vote to leave the EU.

S&P says the referendum result could lead to “a deterioration of the UK’s economic performance, including its large financial services sector”.

Earlier the pound plunged to a 31-year low against the dollar, and UK markets closed lower for a second day. On Friday,

Moody’s cut the UK’s credit rating outlook to negative.

Caribbean Hotels Named In Jetsetters’ 2016 Best Of The Best

Published

9 years ago

June 27, 2016

BusinesSuiteOnline

Three Caribbean hotels have been named in US-based travel and lifestyle magazine Jetsetter’s 2016 Best of the Best awards.

The list which was published recently, highlighted the world’s 20 best hotels in categories ranging from Best Over-The-Top Luxury to Best Safari Lodge.

Included in the list were Antigua and Barbuda’s Barbuda Belle Luxury Beach Hotel, Anguilla’s Zemi Beach House Resort & Spa, and St Lucia’s BodyHoliday.