Minister of Finance and Planning, Dr. the Hon. Peter Phillips, says the Government continues to take all the necessary steps to ensure that the country is set firmly on a path of sustained economic growth. Dr. Phillips was opening the debate on the First Supplementary Estimates for fiscal Year 2014/15, now before the House of Representatives, on December 9. The...

The Government will be spending $739.6 million less than what was approved for the 2014/15 financial year. This is outlined in the first Supplementary Estimates of Expenditure for the 2014/15 financial year, tabled in the House of Representatives on November 25 by Minister of Finance and Planning, Dr. the Hon. Peter Phillips. The Government intends to spend $936.3 million more...

The short term prospects for the economy are positive, with projected growth within the range of 0.5 per cent to 1.5 per cent for the October to December 2014 quarter. Director General of the Planning Institute of Jamaica (PIOJ), Collin Bullock, said the economy is expected to recover from the drought conditions, which resulted in a 0.8 per cent contraction...

Bank of Jamaica (BoJ) Governor, Brian Wynter, said annual inflation is expected to remain within the seven to nine per cent target range for the 2014/15 fiscal year. This, he noted, is despite rising to nine per cent at the end of the July to September quarter, a one per cent increase over the corresponding period last year. Speaking at...

The European Union (EU) has contributed a total of €31 million or J$4.7 billion in development assistance to Jamaica, up to the end of September. Head of the Delegation in Jamaica, Her Excellency Paola Amadei, says this is more than the EU disbursed in 2012, and is close to 70 per cent of the allocation for the similar period in...

Several sectors within the services industry recorded growth for the July to September quarter, led by a 3.9 per cent increase in the hotels and restaurants sector. The sector grew by 0.6 per, with increased real value added in six of eight segments of the industry. The services industry was the top performer for the review period, which saw economic...

The first Supplementary Estimates for the 2014/15 financial year will be tabled in the House of Representatives on Tuesday, November 25. This was disclosed by Minister of Finance and Planning, Dr. the Hon. Peter Phillips, during the sitting of the House of Representatives on November 18. The Estimates are to be discussed by the Public Administration and Appropriations Committee (PAAC)...