Another $412 million will be spent by the Government next fiscal year to carry out activities under a project aimed at enhancing the resilience of the agricultural sector and coastal areas. The money, which has been set aside in the 2018/19 Estimates of Expenditure, will go towards the supervision of coastal protection works, continuation of programme coordination and monitoring, and...

The Government has included six years of budget information in the 2018/19 Estimates of Expenditure, including projections for the next three fiscal years, representing the first time in the country’s history that this is being done. The Estimates usually provide details about Government expenditure for three fiscal years. The six years of budget information include Provisional (unaudited) Actual Expenditure for...

The Government intends to spend $773.6 billion for fiscal year 2018/19, with $560 billion allocated for recurrent (house-keeping) expenses and $213.6 billion for capital (development) projects. Details of the projections are outlined in the Estimates of Expenditure, which were tabled in the House of Representatives today (February 15) by Minister of Finance and the Public Service, Hon. Audley Shaw. The...

Minister of Finance and the Public Service, Hon. Audley Shaw, has welcomed the 1.1 per cent growth in the economy for the October to December quarter in 2017. “It’s still a modest growth figure, but at least we are going in the right direction, and I think that what we have to do now is drill down more critical areas,...

The Planning Institute of Jamaica (PIOJ) is reporting that the country recorded its strongest quarterly growth out-turn for the 2017 calendar year at an estimated 1.1 per cent, between October and December. This follows 0.8 per cent for the July to September quarter, Director General, Dr, Wayne Henry, has said. He was speaking at the PIOJ’s quarterly media briefing at...

The Government’s Special Early Retirement Plan (SERP) is an opportunity for public-sector employees to pursue their passion. This could include starting a business, travelling or spending more time with loved ones. Under SERP, public servants, ages 50 to 59 will be eligible for early retirement through application to the Public Service Commission. Deputy Financial Secretary, Strategic Human Resource Management, Ministry...

The Development Bank of Jamaica (DBJ) has provided over $8 billion in funding support for businesses islandwide since the start of the 2017/18 fiscal year in April. Managing Director, Milverton Reynolds, says the funds have been made available through equity funding under the Jamaica Venture Capital Programme (JVCP) as well as through capacity development and technical assistance initiatives. Mr. Reynolds...