St. Vincent and the Grenadines confirms Chatham Bay land sale

Prime Minister Dr. Godwin Friday confirmed in Parliament that the government of St. Vincent and the Grenadines sold land at Chatham Bay, Union Island. The transaction generated EC$52.7 million in capital revenue during the first four months of the 2026 fiscal year (April 1 to July 31).

This capital injection contributed to a significant narrowing of the central government's overall deficit, which stood at EC$57.78 million for the period. This is a notable reduction from the EC$125.32 million deficit recorded during the same period in 2025. The Prime Minister also noted that lower capital expenditure helped, following the completion of a modern port project and reduced spending related to Hurricane Beryl recovery.

Despite the improved deficit, recurrent revenues saw a decline of 10.6%, totaling EC$290.11 million. This drop was attributed to a 13.6% decrease in international trade tax revenue, which officials linked to technical reporting delays during a Customs and Excise Department system upgrade, and an 8.2% decrease in taxes on goods and services due to lower import excise duties compared to the previous year.