Last week, the prime minister gave his contribution to the Budget Debate for the 2018-2019 fiscal year. Mr. Holness declared that he had brought his family to Parliament, which
The budget Debate continues and Dr. Peter Phillips, leader of the Opposition People's National Party, delivered his budget rebuttal, titled Empowering the People restoring Hope.
Where Was Phillips' Main Focus?
NO NEW TAXES
For the first time ever, to the best of my knowledge, the Government has tabled a Budget without implementing new tax revenue measures. Traditionally, we take it as a norm for the government to add a new tax category or increase the tax on an existing source to help generate revenue, given the country's limited fiscal space.
WHAT IS THE MEDIUM TERM DEBT STRATEGY?
Jamaica's pursuits to increase its per annum economic growth rate is somewhat dependent on the country's ability to maintain macroeconomic stability and measures in place to effectively monitor and manage its public debt.
An estimated $773 billion is expected to be spent by the Government during the next fiscal year (FY) as the items of expenditure for the 2018-2019 Budget has been tabled by the Ministry of Finance and the Public Service. The projected expenditure for the 2018-2019 FY is $31 billion less than the $805.5 million spent last year.
As we prepare to hear this year's Budget Debate, it is important to remember how the process unfolded last fiscal year. This, in an attempt to get an understanding of the priority areas of spending as well as the country's main sources of revenues to offset these expenditures.
Over the last four months, the Jamaican-to-US dollar exchange rate has appreciated by approximately 4 percent, and is now at approximately j$125 to US$1, indicating that a new exchange rate landscape might be on the horizon.
The World Economic Forum has outlined that the top five risks that are most likely to occur in 2018 are extreme weather conditions, natural disasters, cyber attack, data fraud or theft, and failure of climate change mitigation and action.
Crime and violence have had minimal impact on tourism in the Second City, although the violent habits of some of the residents of Montego Bay are becoming overwhelming. The crime as well as a state of emergency can sometimes be very costly to everyone and can also result in loss of earnings. There are several direct and indirect costs associated with crime.
The Jamaican stock market continues to improve on a yearly basis and can help to improve your earnings if you learn how to invest wisely. It has brought lucrative returns to many investors and is expected to continue to do so over the foreseeable future given its trajectory in 2015, 2016, and 2017.
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