The Second Supplementary Estimates for the 2021/22 fiscal year, was approved in the House of Representatives on Thursday (Jan. 13).
This followed the deliberations and adoption of the reports of the Public Administration and Appropriation Committee (PAAC) and the Standing Finance Committee on the Second Supplementary Estimates, and a brief debate by members of the House.
The PAAC examined the document on Wednesday (January 12); while the Standing Finance Committee had discussions during Thursday’s special sitting.
The motions to adopt the reports were moved by Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, who thanked all members of the House “for facilitating a procedurally smooth consideration of the Second Supplementary Estimates and [efficiency] in respect to time.”
Dr. Clarke had tabled the Second Supplementary Estimates in the House of Representatives on Tuesday (Jan. 11).
The revised budget, which amounts to $893 billion, represents an increase of $25.8 billion or three per cent above the $867.3 billion that was approved in the First Supplementary Estimates in October 2021.
The additional expenditure comprises $8.2 billion for Non-Debt Recurrent Expenditure, and $17.6 billion for Debt Service, of which $12.6 billion represents principal repayment.
The additional expenditure will be financed through $11.2 billion in additional revenue flows, $5.3 billion in additional loan receipts and utilisation of an additional $9.2 billion from prior year cash resources.
The Second Supplementary Estimates, Jamaica Public Bodies Estimates of Revenue and Expenditure, 2021/22 was also approved by the House.