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An aerial view of New Kingston, Jamaica. (Photo: wikicommons)

Jamaican Gov’t presents $852.7 billion budget for next financial year

An aerial view of New Kingston, Jamaica. (Photo: wikicommons)

The Government of Jamaica yesterday presented an $852.67 million budget for the fiscal year beginning April 1.

Minister of Finance and the Public Service, Dr Nigel Clarke, during his presentation in the House of Representatives yesterday, February 11.

The projected budget is $6.4 billion less than what was presented in the previous year with the greatest total being set aside for recurrent expenses.

The budget was presented by Minister of Finance and the Public Service, Dr Nigel Clarke, in the House of Representatives. According to Clarke, $509 billion total will be allocated to his ministry with $403 billion going towards recurrent expenses. The remaining $7.9 billion has been apportioned to capital expenditure, much of which will go towards servicing the country’s debt.

Teh Government presented an $852.7 billion budget for the next financial year.

Other budgetary allocations, recurrent expenditure and capital projects totaled, are as follows:

  • Ministry of Health – $77.9 billion
  • Ministry of National Security – $93.9 billion
  • Ministry of Economic Growth and Job Creation – $33.4 billion
  • Ministry of Justice – $9.841 billion
  • Office of the Prime Minister – $17.3 billion
  • Ministry of Labour and Social Security -$13.5 billion
  • Ministry of Industry Commerce, Agriculture and Fisheries – $14.1 billion

An additional $859 billion will need to be spent by the Government for the current fiscal year based on the Second Supplementary Estimates it presented on February 4.