JIS News

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  • Jamaica’s capital expenditure budget has increased significantly over the past few years, moving from approximately $30 billion in 2015/16 to $74 billion in financial year 2020/21.
  • This was noted by Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, while opening the 2020/21 Budget Debate in the House of Representatives on March 10.
  • Dr. Clarke said Jamaica is moving in the right direction.

Jamaica’s capital expenditure budget has increased significantly over the past few years, moving from approximately $30 billion in 2015/16 to $74 billion in financial year 2020/21.

This was noted by Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, while opening the 2020/21 Budget Debate in the House of Representatives on March 10.

Dr. Clarke said Jamaica is moving in the right direction.

“Even as our capital budget in 2019/20 is 240 per cent of what it was only four years ago in 2015/16, we have at the same time improved our budget execution – that is the percentage of our capital expenditure budget that we actually execute – from below 70 per cent in 2014/15 to a forecast of close to 100 per cent for the 2019/20 financial year,” Dr. Clarke said.

For the 2020/21 fiscal year, the Government has presented a Budget of $853.5 billion.

The sum, which was initially $852.7 billion, has been adjusted to reflect an additional $792 million to fund the operations of the Petroleum Corporation of Jamaica (PCJ), which will be integrated into the Ministry of Science, Energy and Technology.

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