Finance and Planning Minister, Dr. the Hon. Peter Phillips, has reaffirmed the Government’s commitment to the Jamaican people, noting that the increase in the 2015/16 Budget is to ensure that “all obligations we entered into will be fulfilled.” Dr. Phillips said the Government continues to acknowledge the sacrifices and commitments made by public and private sector stakeholders, at all levels,...

The country’s debt to gross domestic product (GDP) ratio is expected to continue its downward trajectory during the new fiscal year to reach 130.7 per cent by March 2016. This was disclosed by Minister of Finance and Planning, Dr. the Hon. Peter Phillips, as he opened the 2015/16 Budget Debate in the House of Representatives on Thursday, March 12. The debt to GDP...

The country’s Net International Reserves (NIR) remain strong, standing at US$1.91 billion at the end of February. Minister of Finance and Planning, Dr. the Hon. Peter Phillips, informed that the gross reserves, covering approximately 17.1 weeks of imports of goods and services, are “comfortably” above the international benchmark of 12 weeks of imports of goods and services. He was opening the 2015/16 Budget...

The inflation rate is expected to continue to fall, with an out-turn of five per cent or lower for the financial year 2014/2015. This is compared with the 8.3 per cent that was recorded in the previous fiscal year. Minister of Finance and Planning, Dr. the Hon. Peter Phillips, who revealed the inflation figures at the opening of the 2015/16...

Finance and Planning Minister, Dr. the Hon. Peter Phillips, says six firms have expressed interest in acquiring the Norman Manley International Airport (NMIA) in Kingston. Dr. Phillips, who was opening the 2015/16 Budget Debate in the House of Representatives on March 12, said it is expected that a preferred bidder will be chosen within the next six months. “This is...

Finance and Planning Minister, Dr. the Hon. Peter Phillips, on Thursday, March 12, outlined measures, which are projected to raise additional revenue to fill a $22.7 billion gap in the Government’s $641.56 billion budget for fiscal year 2015/16. Delivering the opening Budget Debate presentation in the House of Representatives, under the theme: ‘Strong Foundation for Growth and the Expansion of...

Minister of Finance and Planning, Hon. Peter Phillips, says the country has made tremendous strides under the Economic Reform Programme (ERP) resulting in a more investor-friendly business environment and continued economic growth. “The successful performance under the economic programme has led to a sharp increase in investor and consumer confidence, facilitated improvement in the ratings by the international rating agencies,...