Minister of Finance and the Public Service, Hon. Audley  Shaw, says the budget for fiscal year 2018/2019 is designed to achieve the targets entrenched in the fiscal rules and is within the context of the Precautionary Stand-by Arrangement (SBA) with the International Monetary Fund (IMF). “Importantly, this new budget will be the last full year under the Standby Agreement with...

Minister of Finance and the Public Service, Hon. Audley Shaw, has announced seven upcoming projects that will result in the creation of hundreds of jobs for Jamaicans during the fiscal year 2018/2019. They are Jiuquan Iron and Steel (JISCO), North-South Highway Development Projects, South Coast Highway Improvement Project, Montego Bay Perimeter Road Project, Naggo Head Technology Park, Morant Bay Town...

Minister of Finance and the Public Service, Hon. Audley Shaw, says the Government remains committed to protecting the poor and vulnerable in the society. Opening the 2018/19 Budget Debate in the House of Representatives on March 8, the Minister said social programmes for protected groups will continue to receive priority with respect to the allocation of resources, to ensure that...

Minister of Finance and the Public Service, Hon. Audley Shaw, says $16.7 billion or 81 per cent of the $20.6 billion allocated to the Ministry of Economic Growth and Job Creation is earmarked for works-related projects aimed at developing and improving the country’s physical infrastructure. Mr. Shaw made the disclosure while opening the 2018/19 Budget Debate in the House of...

Minister of Finance and the Public Service, Hon. Audley Shaw, is reporting that the country has successfully passed the targets set under the International Monetary Fund’s (IMF) Precautionary Stand-By Arrangement. “As at the end of December 2017, the Government of Jamaica has successfully met all the quantitative performance criteria and indicative targets agreed with the IMF,” he said. He was...

Finance and the Public Service Minister, Hon. Audley Shaw, on Thursday (March 8) formally announced that the Government will not be introducing new taxes to fund the 2018/19 Budget, amounting to approximately $773.6 billion. Instead, he said the Administration intends to do so from revenue and grants, which are “passively” forecast at $590.6 billion or 29.3 per cent of gross...

Minister of Finance and the Public Service, Hon. Audley Shaw, says debt service has been reduced by $89 billion for fiscal year 2018/19. This, he said, is due to proactive liability management activities, including smarter borrowing. “In addition, non-debt spending has been increased in this year’s budget by $54 billion, including $15 billion more in capital expenditure, $13 billion more...