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Consumption taxes, duties derailed - Spending cut to offset revenue decline
published: Friday | October 3, 2008
Jamaica's fiscal team is ahead on key performance targets, but also three billion dollars off the mark on tax collections, the Finance Ministry's most recent financial show.
At the end of August, the fiscal deficit stood at $19 billion, a narrower gap between revenues and spending than the $25 billion the Finance Ministry had projected; the spending bill was cut by $9 billion to $128.3 billion, largely at the expense of capital programmes which were cut 17 per cent; while the primary balance was a healthy $30.7 billion of surplus when the cost of servicing the debt and new borrowings were stripped from the budget.
Consumption taxes, duties derailed - Spending cut to offset revenue decline
published: Friday | October 3, 2008
Jamaica's fiscal team is ahead on key performance targets, but also three billion dollars off the mark on tax collections, the Finance Ministry's most recent financial show.
At the end of August, the fiscal deficit stood at $19 billion, a narrower gap between revenues and spending than the $25 billion the Finance Ministry had projected; the spending bill was cut by $9 billion to $128.3 billion, largely at the expense of capital programmes which were cut 17 per cent; while the primary balance was a healthy $30.7 billion of surplus when the cost of servicing the debt and new borrowings were stripped from the budget.
Consumption taxes, duties derailed - Spending cut to offset revenue decline