National Budget

Key Macroeconomic indicators
  • Real GDP contracted by 7.4 percent in 2020 as a result of a 12.2 percent fall in energy sector activity and 5.6 percent decline in non-energy sector activity
  • Real GDP is estimated to fall by 1.0 percent in 2021
  • Real GDP is expected to increase by 2.2 percent in 2022, as the energy sector and nonenergy sector are expected to increase by 13.0 percent and 2.2 percent, respectively
  • Expenditure is based on an oil price of US$65.00 per barrel and a gas price of $3.75 per mmbtu
  • Total Revenue for the fiscal year 2022 is expected to be $43.333 billion. Expenditure for 2022 is expected to measure $52.429 billion
  • A fiscal deficit of $9.096 billion (5.8 percent GDP) is expected for 2022


Republic Economic Newsletter

Volume 29 No.3 June 2021
  • Gain and Pain
  • Making the best of a tough situation
  • The impact of the Divergent Global Economic Recovery on Key Industries
Volume 29 No.2 March 2021
  • The absence of the festive boost
  • Caribbean Update: Pegged Back
  • How do businesses move forward?
Volume 29 No.1 December 2020
  • Uncertainty Reigns
  • Caribbean Update: Recovery on the Horizon?
  • 2021 Vision


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