Advertisement

Economic Conditions Have Never Been Better

Regarding the additional US$226 million now available to the country with the passing of the fourth PSBA Review, the Minister said that “this puts us in a very strong position”, in the event Jamaica needs additional funding support to counter domestic or exogenous shocks.

Finance and the Public Service Minister, Dr. the Hon. Nigel Clarke, says the Government is pleased with Jamaica’s successful completion of the fourth International Monetary Fund (IMF) Precautionary Stand-By Arrangement (PSBA) Review. This, following the IMF Executive Board’s consideration and approval of the Review at its meeting on November 5.…

Read More

News

National Disaster Risk Financing Policy Should be in Place Next Year

Finance and the Public Service Minister, Dr. the Hon. Nigel Clarke, says the Administration is looking to institute the proposed National Disaster Risk Financing Policy ahead of the expiration of the Precautionary Stand-By Arrangement (PSBA) with the International Monetary Fund (IMF) in October 2019. The policy, development of which was…

Read More

News

Over 600 Jamaicans Benefit from Training in Japan

Over 600 Jamaican officers and engineers, mainly from public-sector entities have benefited from technical training programmes in Japan. The sectors for training are wide and varied to support the socio-economic development of Jamaica. These sectors vary from year to year based on the priority areas of cooperation between Japan and…

Read More

News

Jamaica Customs – Makes Strides in Key Areas of Governance: Surpasses Revenue Targets in first two quarters of 2018/19 FY

The Jamaica Customs Agency (JCA) stands firmly on its motto: “Country Above Self” and its core values of Customer-centricity, Accountability, Professionalism, Integrity and Transparency (CAPIT), and remains committed to its mandates of facilitating trade, protecting Jamaica’s borders and collecting revenue on behalf of the Government of Jamaica. The JCA has…

Read More

News

Collective Efforts Needed To Fight Corruption – Minister Williams

Minister without Portfolio in the Ministry of Finance and the Public Service, Hon. Fayval Williams, says ongoing collective efforts are needed to achieve further reduction in corruption. Mrs. Williams acknowledged that significant work has been undertaken and progress made in this regard, resulting in Jamaica’s improved ranking to 68th out…

Read More

News

90 Per Cent of Loans from China to be Repaid in 10 Years

Finance and the Public Service Minister, Dr. the Hon. Nigel Clarke, says 90 per cent of outstanding debt to the Export-Import (EXIM) Bank of China will be repaid in 10 years. Dr. Clarke informed that 99 per cent of the loans secured from China on behalf of Jamaica are at…

Read More

News

Unemployment Falls to Record Low of 8.4 Per Cent

The country’s unemployment rate has fallen to a new record low of 8.4 per cent, according to the Statistical Institute of Jamaica (STATIN) Labour Force Survey for July 2018. This out-turn is 1.3 per cent lower than the 9.7 per cent recorded for the April 2018 Survey. It is also…

Read More

News

Businesses Encouraged to Cooperate with STATIN Field Officers

The Statistical Institute of Jamaica (STATIN) is urging businesses to cooperate with field officers conducting the Jamaica Survey of Establishments (JSE). Since July, STATIN field officers have been visiting businesses across the island to collect basic information on the number and types of entities in operation. The data-collection phase of…

Read More

News

STATIN to Host Statistics Stakeholder Workshop

Ministries, departments and agencies (MDAs) of Government involved in the production and dissemination of statistics will participate in a workshop from October 30 to November 1 at The Jamaica Pegasus hotel in New Kingston. Spearheaded by the Statistical Institute of Jamaica (STATIN), the three-day event will also include persons from…

Read More

News

Increased Productivity Helps Keep Inflation Low – Minister Williams

Minister without Portfolio in the Finance and the Public Service Ministry, Hon. Fayval Williams, is emphasising the importance of increased productivity in staving off potential inflationary pressures. She said that low productivity results in “cost increases that flow through to product prices and thereby raised inflation”. “For a country, productivity…

Read More

News

Joint Select Committee to Consider and Reporton BOJ Act

A Joint Select Committee of Parliament has been established to consider and report on the Bank of Jamaica (Amendment) Act 2018. The Committee will be chaired by Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke. Other members include Minister of Justice, Hon. Delroy Chuck; Minister without…

Read More

News

IDB to Provide More Than US$50 Million Per Year for Investment Projects in Jamaica

The Inter-American Development Bank (IDB) is making more than US$50 million a year available for investment in a number of projects in Jamaica, through its investment arm, IDB Invest. IDB Invest General Manager, James P. Scriven, who made the disclosure on Friday (October 19), said that tourism, infrastructure, transportation, ports,…

Read More

News

More Youth to be Trained Under National Service Corps

The Government is increasing the number of young people to benefit under the Jamaica National Service Corps (JNSC) programme. Finance and the Public Service Minister, Dr. the Hon. Nigel Clarke, says that 1,500 more persons will be trained in three batches by October 2019. “We have 500 to come on…

Read More

News

EPOC Expects Growth Momentum to Continue

Economic Programme Oversight Committee (EPOC) Co-Chairman, Keith Duncan, said members are optimistic that the economic growth momentum will be sustained. Statistical Institute of Jamaica (STATIN) data indicate that the economy grew by 2.2 per cent during the April to June quarter. “As growth levels continue to rise quarter over quarter,…

Read More

News

Revenue Growth Accounts for More Capital Expenditure and Social Spending

Economic Programme Oversight Committee (EPOC) Co-Chairman, Keith Duncan, says robust tax revenue growth over the last two years is creating the welcome fiscal space that allows for notable increases in Government capital expenditure and social spending. These increases, he said, are reflected in the first 2018/19 Supplementary Estimates, tabled in…

Read More

News

Jamaica Expected to Pass Fourth Review Under IMF Standby Agreement

Economic Programme Oversight Committee (EPOC) Co-Chairman, Keith Duncan, anticipates that the International Monetary Fund’s (IMF) Executive Board will ratify Jamaica’s fourth review under the IMF’s Precautionary Standby Arrangement (PSBA), when its members meet for deliberations on November 5. Mr. Duncan said this optimism is based on the economic programme’s out-turns…

Read More

News

Microlenders Encouraged to Lower Interest Rates on Loans

Minister of Industry, Commerce, Agriculture and Fisheries, Hon. Audley Shaw, is appealing for microfinance institutions to lower interest rates on loans for small business owners. “I encourage microlenders to ensure that your (loan) products are not exploitative with high interest rates that, instead of lifting our entrepreneurs, push them into…

Read More

News

HR Shared Services by End of Financial Year

Human resources shared services in the public sector is expected to be operational by the end of the current financial year. This was stated in a message from Minister without Portfolio in the Ministry of Finance and the Public Service, Hon. Fayval Williams, at a human resources transformation seminar held…

Read More

News