Contrary to what happens in the region, and for that matter in most of the world, inflation in the Falkland Islands is on target and the budget performance remains under spent with strong Capital projects carryover from previous budgets.
The Falkland Islands Government operating surplus now stands at over £38 million, Standing Finance Committee members were informed this week. The large surplus is due to favorable corporation tax receipts, and was arrived at by deducting operating costs of £68 million from the year’s income, which is £106 million.
The Falkland Islands oil industry has contributed with an unexpected addition of £9.2M to the Falkland Islands Government (FIG) budget in the first nine months of the financial year 2011/12, reported the Islands government Standing Finance Committee.