Government Operations Results for July 2017
Government Operations Results for July 2017 For the period of April 2017 to July 2017, the GOJ reported Total Revenues & Grants of $166.21 billion, $5.9 billion more than the government’s projection. Furthermore, year over year, this represents an increase of approximately 8.1% relative to the $153.8 billion recorded for the corresponding period in 2016. ‘Tax Revenue,’ ‘Non-Tax Revenue’ and ‘Grants’ outperformed projections while ‘Bauxite Levy’ and ‘Capital Revenue’ underperformed projections during the review period. ‘Tax Revenues’ amounted to $153.63 billion, $5.45 billion more than budgeted, ‘Non-Tax Revenue’ of $10.36 billion was reported; $54.4 million more than budgeted. ‘Grants’ totalled
PULSE reported a 26.7% decline in net profit for 2017FY
Revenue increased 11.5% year on year, closing the year at $391.00 million, up from $350.58 million in 2016, while for the quarter revenue amounted to $127.34 million down 5.1% compared to the $134.23 million booked in 2016. Administrative and Other Expenses increased 7.15%, closing the year at $217.12 million relative to 2016’s $202.63 million. As such, Operating Profit increased 17.5%, closing the year at $173.88 million compared to the $147.95 million posted in 2016. Other income amounted to $97.62 million, a 2.9% increase on the $94.88 million recorded for the 2016 financial year. This resulted in Profit before finance costs
Consumer Price Index- August 2017
The inflation rate for the month August 2017 was 0.3%, following an upward movement of 0.6% in July 2017. The division which recorded the highest movement for the month was ‘Recreation and Culture’ with a 1.3% growth, while the index for ‘Food and Non-Alcoholic Beverages’ advanced by 0.6%. STATIN reported that the increase in ‘Recreation and was influenced mainly by increased prices for books and other school equipment, while increases within the ‘Food and Non-Alcoholic Beverages’ division was due mainly to a 0.6% upward movement for the group ‘Food. The only division to record a negative movement in its index