August 9, 2020

Government’s revenue for May falls by 20 percent

This country’s government has seen a twenty percent fall in its revenue due to the COVID-19 pandemic.

Minister of Finance Hon. Camillo Gonsalves addressed the fall in revenue at the launch of PRYME’s online portal last week.

“When we lose 20 per cent of our money, that’s a big problem. But compared to other countries in the OECS, we’re doing better than most because their revenues have dropped by 50 per cent,” the finance minister said.

Gonsalves said the World Bank estimates that the world’s economy will shrink by at least five per cent, with two major economies; China and the United States already showing significant amounts of unemployment.

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