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Public Bodies Gross Assets Projected to Grow by More Than $100m in 2025/26

By: , March 12, 2025
Public Bodies Gross Assets Projected to Grow by More Than $100m in 2025/26
Photo: Adrian Walker
Minister of Finance and the Public Service, Hon. Fayval Williams, opens the 2025/26 Budget Debate in the House of Representatives on Tuesday (March 11).

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The gross assets of Jamaica’s 150 active public bodies are projected to grow by more than $100 million in fiscal year 2025/26.

This was disclosed by Minister of Finance and the Public Service, Hon. Fayval Williams, while opening the 2025/26 Budget Debate in the House of Representatives on Tuesday (March 11).

“Public bodies are expected to end the new fiscal year with $1.6 trillion of gross assets. This is 6.6 per cent greater than the gross assets in the fiscal year that is drawing to a close. They are projected to employ 14,203 persons or 5.5 per cent more than they did in the 2024/25 fiscal year,” she shared.

Additionally, public bodies are projected to generate revenues of $644.2 billion, an 8.7 per cent increase over 2024/25, when inflows were reported at $592.8 billion.

Mrs. Williams underscored the importance of public bodies, highlighting that they perform regulatory, advisory, supervisory, research, administrative, quasi-judicial and technical functions.

“Many of them are funded by the Consolidated Fund. But there are 52 that provide, through their various services, major contributions to the economy,” she said.

Mrs. Williams also advised that the Government will transfer less funds from public bodies in the upcoming fiscal year.

Some $76.5 billion was transferred to the central government during 2024/25, compared to a projected $62.9 billion or 17.8 per cent less for the upcoming fiscal year.

“Their capital spending will be 4.2 per cent more than the $97.2 billion they spent in fiscal year 2024/25,” Minister Williams added.

 

Last Updated: April 27, 2025