House Approves Fourth Supplementary Estimates

The House of Representatives on Tuesday (January 30) approved the Fourth Supplementary Estimates for the fiscal year 2023/24, which reflects total government expenditure of $1.092 trillion.

The Estimates proposes a total expenditure of approximately $1.092 trillion, a reduction of $2.5 billion on the approved Budget, following the submission and approval of the Third Supplementary Estimates in September 2023.

In his address, Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, informed that the Supplementary Estimates seeks to redirect resources from activities that will not utilise the current allocations to activities that are able to absorb these resources during the rest of the fiscal year.

The fiscal year ends on March 31.

“The main area of reduction is on the capital side of the Budget with a net reduction of $7.4 billion; non-debt recurrent expenditure increases by $1.9 billion and debt service by $3 billion,” he said.

The Jamaica Public Bodies Third Supplementary Estimates of Expenditure and Revenue for financial year 2023/24 was also approved.

Both documents were referred to the Public Administration and Appropriations Committee of the House of Representatives for consideration.

The reports were adopted by the House. The Standing Finance Committee also reviewed the documents.