Dr. The Hon. Peter Phillips, Minister of Finance & Planning presented to Parliament the
Government’s plan to fund the 2013-14 Expenditure Budget of J$520.9 billion which had
been previously tabled on 4 April 2013.
The budget for 2013/2014 is cast against the background of the economic reform programme which aims to provide the conditions under which Jamaica can achieve sustained economic growth and development and job creation which is so essential.
In his presentation he indicated that the main focus of the budget of both central government and the self-financing public bodies is fiscal consolidation as a means for reducing the public debt to sustainable levels. The overall budget for central government is $520.8B which is 14 per cent less than the revised estimate for the past
fiscal year. The bulk of the savings arise from the reduction in public debt expenditures of $100.7B. This represents savings in interest costs of approximately $10B and reduction in the repayment of principal of $90.7B.
Debt Expenditure
The budget provides for debt servicing expenditure of $225.2B of which $119.5B
represents interest charges and $105.7B represents repayment of loans – both internal
and external.Get your copy of Jamaica Budget and Taxation Bulletin 2013
Government’s plan to fund the 2013-14 Expenditure Budget of J$520.9 billion which had
been previously tabled on 4 April 2013.
The budget for 2013/2014 is cast against the background of the economic reform programme which aims to provide the conditions under which Jamaica can achieve sustained economic growth and development and job creation which is so essential.
In his presentation he indicated that the main focus of the budget of both central government and the self-financing public bodies is fiscal consolidation as a means for reducing the public debt to sustainable levels. The overall budget for central government is $520.8B which is 14 per cent less than the revised estimate for the past
fiscal year. The bulk of the savings arise from the reduction in public debt expenditures of $100.7B. This represents savings in interest costs of approximately $10B and reduction in the repayment of principal of $90.7B.
Debt Expenditure
The budget provides for debt servicing expenditure of $225.2B of which $119.5B
represents interest charges and $105.7B represents repayment of loans – both internal
and external.Get your copy of Jamaica Budget and Taxation Bulletin 2013
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