International credit rating agency, Standard and Poor’s (S&P), has improved its outlook on Jamaica from stable to positive. In a release on September 19, Standard and Poor’s says it has affirmed its 'B-' long-term foreign and local currency and 'B' short-term foreign and local currency sovereign credit ratings on Jamaica. A ‘B’ rating means the country is more vulnerable to...

A Bill to amend the General Consumption Tax (GCT) Act was tabled in the Senate on Friday, September 19, paving the way for an improved tax collection system. Justice Minister, Senator the Hon. Mark Golding, tabled the Bill, which was passed in the House of Representatives on September 17. It introduces a series of adjustments, which aim to facilitate the operation of...

Jamaicans are being encouraged to effectively plan for retirement to ensure that they can adequately take care of their financial needs after they have stopped working. The advice came from Director General in the Ministry of Water, Land, Environment and Climate Change, Dr. Sharon Crooks, at a retirement exposition today (Sept. 19), at the Half-Way-Tree Road offices of the Land...

The Jamaica Mortgage Bank (JMB) is the lead financier for the first phase of a major housing project on the Mona campus of the University of the West Indies, which will provide accommodation for 1, 584 students over the next three years. Ground was broken on Thursday (September 18) for the development, which is being undertaken at a cost of...

Finance and Planning Minister, Dr. the Hon. Peter Phillips, says the economic growth momentum is expected to continue through to the end of the September quarter, despite the effects of the drought. He was addressing a post-Cabinet Retreat press briefing on September 17 at Jamaica House. Real economic activity expanded within the range of one to two per cent during...

The Government has mandated a Cabinet sub-committee to identify and remove impediments to growth projects, as well as pinpoint general economic measures to be undertaken, in order to enhance Gross Domestic Product (GDP) levels. Minister of Finance and Planning, Hon. Dr. Peter Phillips, made the announcement at a post-Cabinet Retreat press briefing on Wednesday, September 17, at Jamaica House. The...

The Planning Institute of Jamaica (PIOJ) has indicated that over the next fiscal year, there is significant potential for growth beyond what is projected under the Government’s Extended Fund Facility with the International Monetary Fund (IMF). According to the PIOJ, while the Gross Domestic Product (GDP) growth target is 1.5 to 2 per cent, there is prospect for up to...