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.
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The UWI, Mona ranks first in Jamaica among accredited tertiary-level programmes. In 2012, the University was again one of Jamaica’s Top 100 Employers.
