Pacific Games drives July revenue boost
The Ministry of Customs and Revenue achieved its $40 million target for July thanks to a surprise $5 million surplus from the Pacific Games.
This was confirmed by the Minister, Tialavea Tionisio Hunt.
“We were planning to collect $40 million during the Games in July and we exceeded that," the Minister said.
The $5 million surplus would be confirmed at a meeting next week, the Minister said.
“The Pacific Games gave us a lot of revenue," Tialavea said.
"Hotels were full with officials and supporters of the different teams flying into Samoa to cheer on their athletes."
The Minister said the country was off to a good start for the 2019/20 Financial Year.
“It was a good two weeks for our economy to grow," he said.
Tialavea said a lot of business people were happy with the Pacific Games, which contributed to consumer spending.
“I talked to a lot of business people, car rentals, restaurants, flea market they all enjoyed the two weeks and wished the Games continued for another two weeks," he said.
“[The] budget for the Pacific Games was more than $30 million. It was the budget from last year 18/19 from the supplementary budget and then the national budget.
“You can’t compare what the Government spent with what people gained because they gained more. Government gets money from the taxes, but we have to spend that for the country.
Tialavea said economic growth is typically strong during the first six months of the financial year and slows down in the beginning of the year because of school.
Revenue picks up again from April to June, the Minister said.
“Our budget for the 2019/2020 for the Ministry Revenue is $539 million.
"We exceeded last year. We were supposed to collect $530 million and we collected $551 million – a surplus of $21 million
August's revenue target is also $40 million, the Minister said.