Taxation Bulletin:Jamaica Budget Review 2014/2015

Posted onApril 19, 2014

Numbers And Finance (Photo credit: kenteegardin)

JAMAICA BUDGET HIGHLIGHTS 2014/2015

The Hon. Peter Phillips, Minister of Finance & Planning presented to Parliament the Government’s plan to fund the 2014-15 Expenditure Budget of J$539.3 billion.

He noted that the budget for FY 2014/2015 is consistent with the targets set under the extended fund facility (EFF) negotiated with the IMF and that Expenditure has to be controlled and kept in line with the country’s ability to fund government’s operations.

In his presentation he identified the following as essential for growth:

easy access to affordable credit,‘

efficient ,facilitative government institutions supportive of investments;

a legal system that resolves disputes impartially and speedily; and,

a society which will view positively and reward those who achieve successful business investments.

The Ministry of Finance top the 2014/2015 Budget Allocation accounting for J$267.6 Billion of the Total Budget of J$539.3 Billion. Debt Servicing represents J$233 Billion of the J$267.6 Billion granted to the Ministry of Finance.

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