Govt seeks $17b increase in 2018/19 budget

Tuesday, September 25, 2018

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KINGSTON, Jamaica — The Government this afternoon tabled the First Supplementary Estimates for 2018/19, showing a planned increase in its budgetary spending for the fiscal year of $17.4 billion.

The additional spending will increase the 2018/19 budget to $791.1 billion, from the original $773.6 billion.

Non-debt expenditure increased, which received the bulk of the increase would move from $484.6 billion to $501.2 billion, while debt servicing expenditure would increase $289 billion to $289.8 billion.

The increase comprised $12.4 billion more for the recurrent or housekeeping expenditures and $5 billion for capital expenditure.

The increases included $1.2 billion in public debt charges or interest charges, but there was $333 million cut in public debt amortization (principal).

The estimates are to be reviewed by the House of Representatives next week prior to a vote of confirmation.

Balford Henry

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