Paralysed purse
Jamaica’s $10b underspend threatens growth, says fiscal commissioner
FISCAL Commissioner Courtney Williams has raised significant concerns regarding the Jamaican Government’s chronic failure to execute its capital expenditure budget, warning it directly undermines the country’s economic growth strategy.
Provisional data for the first quarter reveal a near $10 billion shortfall in capital spending, contributing to a total expenditure underspend of $18.7 billion. Williams emphasised that this is a persistent, public sector-wide issue, noting that both central government and public bodies have a documented history of spending only a fraction of their allocated capital budgets, which jeopardises crucial investments in infrastructure and development.
The commissioner confirmed that, while overall revenue collection was on target for the quarter, a serious risk looms for the full year due to a flawed budgetary foundation. More details and in-depth analysis in the
Business Observer.
