Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, says that the Government is committed to ensuring that the nation’s poor and vulnerable are protected from the worst effects of the Russia-Ukraine crisis. “The Jamaican economy is resilient, and we will weather this storm,” he said, while opening the 2022/23 Budget Debate in the House of Representatives...

Micro, small and medium-sized enterprises (MSMEs) are being encouraged to take advantage of the Development Bank of Jamaica (DBJ) Social and Economic Recovery and Vaccine (SERVE) Programme to access loan and grant support. The initiative offers lines of credit and grants to MSMEs that have been impacted by the coronavirus (COVID-19) pandemic and those looking to digitise their operations. The...

The first 100,000 Jamaicans establishing Central Bank Digital Currency (CBDC) wallets (accounts) after April 1, will receive a $2,500 deposit from the Government. This was announced by Minister of Finance and the Public Service Dr. the Hon. Nigel Clarke, who says this is in a bid to encourage persons to utilise CBDC as an option to conduct transactions. He was...

The Government intends to grant two Integrated Resort Development licences in the upcoming fiscal year, which will represent a combined investment of approximately US$1 billion. An integrated resort development must have a minimum of 1,000 hotel rooms, of which 500 must be luxury rooms. The development must have a minimum capital investment of US$500 million. Minister of Finance and the...

Jamaica is introducing a new $2,000 banknote on which late former Prime Ministers, the Most Hon. Edward Seaga, and the Most Hon. Michael Manley, will appear together. It is among a series of new/upgraded notes, which will go into circulation later this year. The notes will honour seven national heroes and four former prime ministers. Minister of Finance and the...

Work is being done to update the tax architecture, with “clear and coherent laws” capable of easy administration, says Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke. Opening the 2022/23 Budget Debate in the House of Representatives on March 8, the Minister said this is integral to investment decisions and to provide a predictable business environment....

The Government delivered direct and indirect support across two fiscal years (2020/21 and 2021/22), as a response to the COVID-19 pandemic, costing $40.6 billion and representing two per cent of gross domestic product (GDP). This was announced by Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, as he opened the 2022/23 Budget Debate in the House...