The Government of Jamaica yesterday presented an $852.67 million budget for the fiscal year beginning April 1.
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.
Other budgetary allocations, recurrent expenditure and capital projects totaled, are as follows:
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.