Republic Economic Newsletter

Volume 32 No.1 December 2023
  • Non-Energy Energy
  • Caribbean Update: Continued Growth Accompanies Record Heat
  • Slower Growth amid Global Uncertainty
Volume 31 No.4 September 2023
  • Non-Energy Sector Props Up the Domestic Economy
  • Caribbean Update: The Fourth S
  • Recession/No Recession
Volume 31 No.3 June 2023
  • Positive Performance on the Basis of Non-energy Stimulus
  • Caribbean Update: Continued Growth with Tourism Approaching Pre-Pandemic Levels
  • Of Primary Importance

Annual Reports

National Budget

Key Macroeconomic Indicators
  • Real GDP grew by 1.5 percent in 2022
  • A fiscal deficit of less than 1.8 percent of GDP is expected for 2023
  • Real GDP is expected to increase by 2.7 percent in 2023
  • Expenditure is based on an oil price of US$85.00 per barrel and a gas price of $5.00 per mmbtu
  • Total Revenue for the fiscal year 2024 is expected to be $54.012 billion. Expenditure for 2024 is expected to measure $59.209 billion
  • A fiscal deficit of $5.197 billion (2.7 percent GDP) is expected for 2024
  • Expected Revenue of $54.012 billion comprises oil revenue of $16,709 billion, non-oil revenue of $35,547 billion and capital revenue of $1.756 billion.
  • The net asset value of the Heritage and Stabilisation Fund as of September 2023 is US$5.5 billion


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