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"......amount of $88 billion available for next year to spend on capital projects like roads, water supply and schools....."
out of the budget of "..$641.5 billion budget..."
"....Finance Minister Dr. Peter Phillips has tabled a budget of J$641 billion budget for the upcoming fiscal year.The budget was tabled in Parliament on Tuesday, following which Phillips held a press briefing to outline his plans.The budget is a big jump from that of J$ 539 billion that is expected to be spent this year.
Of this amount J$310 billion will go to debt servicing – that’s roughly 48 cents out of every dollar.
The next biggest expenditure will be the public sector wage bill – J$165 billion has been set aside to pay public sector workers representing an increase of 3.4 percent.
But the Finance Minister was quick to point out that more money will reach the pockets of those workers.
“We have made provisions for an increase in the salary payments, 2015/2016 not included what we have provided in contingency pending the completion of our negotiations with the public sector,” he said.
The rest of the money goes to programmes and capital expenditure.
Phillips said the authorities will be going after compliance initiatives more aggressively this year but at the end he is still expecting a financing gap of J$8 billion, an indication that new taxes to that amount will be sought.
The Finance Minister said the details will be revealed on March 12 but the early indication is that companies will be targeted heavily for the money with the public bearing less of the cost."
".....Meanwhile, the government intends to pass significant pieces of legislation during 2015/2016.They include a Bill which will make it easier for the Administrator General to settle disputes over estates..."
AND DEN U HA DIS BIT OF NEWS
......The Government of Jamaica is expecting hotel investments of J$44 billion this year.
The expectation is outlined in regulatory filings made to the United States Securities and Exchange Commission.
The filings were made as the government seeks to entice investors to lend it US$1 billion.
In the filings, the Jamaican Government told potential investors that current investment prospects in the tourism sector should result in 2,300 new rooms and 4,700 jobs."
out of the budget of "..$641.5 billion budget..."
"....Finance Minister Dr. Peter Phillips has tabled a budget of J$641 billion budget for the upcoming fiscal year.The budget was tabled in Parliament on Tuesday, following which Phillips held a press briefing to outline his plans.The budget is a big jump from that of J$ 539 billion that is expected to be spent this year.
Of this amount J$310 billion will go to debt servicing – that’s roughly 48 cents out of every dollar.
The next biggest expenditure will be the public sector wage bill – J$165 billion has been set aside to pay public sector workers representing an increase of 3.4 percent.
But the Finance Minister was quick to point out that more money will reach the pockets of those workers.
“We have made provisions for an increase in the salary payments, 2015/2016 not included what we have provided in contingency pending the completion of our negotiations with the public sector,” he said.
The rest of the money goes to programmes and capital expenditure.
Phillips said the authorities will be going after compliance initiatives more aggressively this year but at the end he is still expecting a financing gap of J$8 billion, an indication that new taxes to that amount will be sought.
The Finance Minister said the details will be revealed on March 12 but the early indication is that companies will be targeted heavily for the money with the public bearing less of the cost."
".....Meanwhile, the government intends to pass significant pieces of legislation during 2015/2016.They include a Bill which will make it easier for the Administrator General to settle disputes over estates..."
AND DEN U HA DIS BIT OF NEWS
......The Government of Jamaica is expecting hotel investments of J$44 billion this year.
The expectation is outlined in regulatory filings made to the United States Securities and Exchange Commission.
The filings were made as the government seeks to entice investors to lend it US$1 billion.
In the filings, the Jamaican Government told potential investors that current investment prospects in the tourism sector should result in 2,300 new rooms and 4,700 jobs."
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