Chief Economist at the Ministry of Finance and Planning, Everton McFarlane, says the 2015/16 budget is a growth supporting budget. Speaking on the Jamaica Information Service’s (JIS) Issues and Answers television programme on Sunday, February 22, Mr. McFarlane pointed to an increase in the capital expenditure as well as spending on social programmes in this year’s budget, as measures that...

A sum of $51 million has been allocated in the 2015/16 Estimates of Expenditure, now before Parliament, to continue development of the Electronic Government Procurement system. The project, which commenced in 2011, is intended to strengthen the efficiency and quality of Jamaica’s public procurement process. This, through development of an electronic  system for government procuring and tendering agencies and suppliers,...

The project, being implemented by Tax Administration Jamaica (TAJ), aims to improve the regulatory, institutional, and administrative framework for business taxation, by reforming the tax appeal process and legislative framework. Work commenced in February 2014, and it is envisaged that when completed in 2016, the project will facilitate simplification of the business tax process by customizing the tax design and...

Research is being undertaken by the Caribbean Development Bank (CDB) to address the issue of youth unemployment in the region. The announcement was made by Director of Economics at the CDB, Dr. Justin Ram, at a press briefing on the economic performance of CDB borrowing member countries, held on Wednesday, February 18, in Barbados. He said unemployment among young people...

Dr. the Hon. Omar Davies has been hailed for strengthening regulation of the financial sector and improving the Jamaica’s economic competitiveness. Former Prime Minister, the Most Hon. P.J. Patterson said Dr. Davies brought stability to the country’s financial system by strengthening and restructuring the banking and insurance industries. “The regulation of the financial sector, protecting customers, who needed financial services,...

Tax Administration Jamaica (TAJ) is currently conducting more than 100 free sessions across the island to assist taxpayers to file their income tax returns and other returns due in March. Communications Officer at the TAJ, Leighton Beckles, says the sessions are conducted by tax professionals in tax offices islandwide, as part of the TAJ’s taxpayer assistance programme during the tax...

The Statistical Institute of Jamaica (STATIN) is reporting a 0.5 per cent decline in inflation for the month of January 2015, which is the third consecutive monthly decline for the country. STATIN says the fall in inflation was due mainly to lower food, electricity and transportation prices. For the month of January, STATIN recorded a decline for ‘Food and Non-Alcoholic...