Minister of Finance and the Public Service, Hon. Fayval Williams, tabled the Second Supplementary Estimates for fiscal year 2024/25 in the House of Representatives on Tuesday (November 26). The estimates reflect the changes resulting from the recent assignment of subjects and departments, agencies and other public bodies, which took effect on October 30, 2024. The impacted entities are the Office...

The adverse impact of Hurricane Beryl and other hydrological events caused a contraction in the economy during the July to September quarter, the Planning Institute of Jamaica (PIOJ) reports. Economic activity declined by an estimated 2.8 per cent compared with the corresponding period in 2023. Speaking during the agency’s recent quarterly briefing, Director General, Dr. Wayne Henry, said the downturn...

A total of 1,756 new government positions have been created, according to Minister of Finance and the Public Service, Hon. Fayval Williams. Speaking during Wednesday’s (November 27) post-Cabinet press briefing at Jamaica House, Mrs. Williams said these include 1,105 posts that have been added to the Jamaica Constabulary Force (JCF). This, she pointed out, is to formalise excess staffing capacity...

Deputy Governor of the Bank of Jamaica (BOJ), Jide Lewis, says that all banks are expected to be prepared for the increased demand for cash during the upcoming holiday season. “I think during Christmas time, the seasonal increase in demand for currency, would suggest that the banks will need to stock up additional funds,” he said. Mr. Lewis, who has...

The Bank of Jamaica (BOJ) is reassuring the public that there is an ample supply of all coins and denominations within the financial system. Speaking at the Central Bank’s Quarterly Monetary Policy Report Press Conference on Monday (November 25), Deputy Governor with responsibility for Financial Markets and Payment Systems, Natalie Haynes, stated that, "there's no shortage of coins. We supply...

Prime Minister, Dr. the Most Hon. Andrew Holness, says the Government is pursuing an inclusive growth strategy, which will ensure that every Jamaican can partake in the nation's economic prosperity. He said that no one will be left behind. "Growth must benefit all Jamaicans – big business and small, urban and rural, the young and the not so young," he...

The Bank of Jamaica (BOJ) has announced a reduction in its policy interest rate to 6.25 per cent, effective November 22, 2024. This decision was made during the Monetary Policy Committee (MPC) meetings, held on November 19 and 20, reflecting the current economic environment and a positive outlook for inflation. The policy interest rate determines the levels of the rest...