The Government is projected to spend $30.5 billion in 2015/16 to undertake work on roads and bridges, provide buses and housing solutions, upgrade schools, among other initiatives to benefit Jamaicans. Of the total, $3.3 billion will be spent for work on roadways and bridges, and to commence and complete phases five and six of the Jamaica Emergency Employment Programme (JEEP)....

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...

A sum of $450 million has been allocated in the 2015/16 Estimates of Expenditure, now before Parliament, to continue implementation of the Jamaica Foundations for Competitiveness and Growth project. The allocation represents a $410 million increase for the project, which started in September 2014, and aims to strengthen the enabling environment for private sector competitiveness to help boost productivity and...

The Major Infrastructure Development Programme (MIDP) has received an allocation of $3.34 billion in the 2015/16 Estimates of Expenditure, now before Parliament. The project seeks to continue improvement of the island’s road network in order to stimulate economic development and enhance the welfare of Jamaica’s citizens. Achievements to date, include: completion of an engineering feasibility study; signing of a conditional...

A sum of $24.9 million is to be spent this year on the continued development of a National Identification System (NIDS) for Jamaica. The funds have been made available in the 2015/16 Estimates of Expenditure, now before the House of Representatives. The project aims to establish a reliable identification system of Jamaican citizens and ordinarily resident individuals in Jamaica, with...

A sum of $35 million has been provided in the 2015/16 Budget for the continued installation of flood lights and other related works at Sabina Park. The project seeks to improve Jamaica’s attraction as a destination for sports tourism and towards the continued development of cricket in Jamaica, in particular at the youth and professional levels. It is being implemented...