WITH less than three moths left before the end of the current fiscal year, the Department of Finance says there is still no trend in the CNMI’s economic performance.
The administration expects to collect $193.369 million in total revenue by the end of FY 2002 on Sept. 30, but according to Finance Secretary Frankie B. Villanueva, “We’re still looking if there is a trend.”
Finance is still waiting for the May and June numbers before it can make a further determination on the revenue projections, he said.
The collections for May and June will show if the projections are being met, he added.
He said the bulk of the collection will come from the business gross revenue tax, but “it is still too early to post the BGR report.”
The March collection was $2 million less than expected but the April figures posted an increase of about $2 million from the $10.3 million collected in April 2001.
