The 2016/17 budget of $579.9 billion is to be financed through a mix of revenue, grants, loans and inflows from the PetroCaribe Development Fund. This was revealed by Minister of Finance and Public Service, Hon. Audley Shaw, when he opened the Budget Debate in the House, yesterday (May 12), under the theme: ‘Partnership for Economic Growth’. Revenue and grant inflows for...

The Caribbean Country Manager of the Inter-American Development Bank (IDB), Therese Turner-Jones, says the institution remains committed to supporting the implementation of programmes designed to improve the lives of residents across Latin America and the Caribbean. Speaking at the IDB’s public lecture at the Jamaica Pegasus Hotel, in New Kingston on May 2, Mrs. Turner-Jones said this forms the basis...

The Ministry of Finance and Planning will carry on with the implementation of the Caribbean Criminal Asset Recovery Programme (CCARP), for which a sum of $10.2 million has been allocated in the 2016/17 Estimates of Expenditure, now before the House of Representatives. The programme, which commenced in January 2013, is designed to support the strengthening of the Financial Investigations Division...

The Statistical Institute of Jamaica (STATIN) is celebrating its 70th anniversary this year and has planned a slew of activities to mark the milestone. The yearlong celebrations commenced on Sunday (April 24), with a church service at the Boulevard Baptist Church in St. Andrew. Director General at STATIN, Carol Coy, said the entity will be relaunching its website in May,...

The Government is to procure contraband detection machinery and equipment this fiscal year, as it moves to strengthen the island’s customs control and security. A sum of $2.58 billion has been allocated under the Fiscal Administration Modernisation Programme for the project, as outlined in the 2016/17 Estimates of Expenditure, now before the House. The overall objective of the programme is...

The Government has allocated $35.5 million in the 2016/17 Estimates of Expenditure to continue activities under the Public Sector Transformation Programme. The Estimates were tabled in the House of Representatives on April 14 by Minister of Finance and the Public Service, Hon. Audley Shaw. One of the main objectives of the programme entitled, ‘Public Sector Transformation - Support the Ministry...

A sum of $651 million has been allocated to the Strategic Public Sector Transformation Project in the 2016/17 Estimates of Expenditure, now before the House of Representatives. The project, which is being funded by the United Kingdom’s Department for International Development, the Government of Jamaica and the International Bank for Reconstruction and Development, is aimed at strengthening public resource management...

The Jamaica Business Taxation Reform (JAMTAX) has been given $15.7 million in the 2016/17 Estimates of Expenditure, now before the House of Representatives. The project seeks to improve the regulatory, institutional and administrative framework for business taxation by reforming the tax appeal process and legislative framework. Allocation for this fiscal year will be used to: complete the Tax Compliance Cost...