Here comes the pain! - The Budget!

[Karl]

Huge debt
Creditors, police, teachers primary beneficiaries as $12b yanked from other sectors

BY CAMILO THAME Business co-ordinator thamec@jamaicaobserver.com
Wednesday, April 08, 2009

Most ministries and government offices will have to work with less or the same amount of funds that they spent last year, while a huge jump in debt servicing costs and key civil servants - police and teachers - pay have eaten away $12 billion from other areas of government.

The Government tabled the estimates of expenditure for the 2009/2010 fiscal year in Parliament yesterday and revealed a total expenditure package of $548 billion, up from the $508 billion that was estimated to have been spent during the previous fiscal year that ran to March 31, 2009.

...more

[Muadib]

When is time fi di beating, you haffi call the responsible parent and send di curry favor one outside....

[Lazie]

Analyst warns budget will lead to a weakened economy

Posted: 2009-04-08 08:27:39


Financial analyst Ralston Hyman is warning the Budget will result in a further weakening of the economy.

He has cited the continued trend in the reduction of capital expenses over the past few years.

Last year $45.7 billion was projected for new projects like roads, schools and bridges or otherwise called capital expenses.

This year the Government has projected to spend $41 billion.

However even with the reduction, Mr Hyman is predicting that the Government will not spend more than half of this year’s allocation similar to what happened last year.

Stay tuned to Power 106FM for more on the Budget with Ralston Hyman on Real Business starting at 8.30 a.m.

[Comment]

When is time fi di beating, you haffi call the responsible parent and send di curry favor one outside....

LOL!

[Lazie]

PNP to review Budget

A special meeting of the People's National Party (PNP) Council of Spokespersons is to be held on Wednesday morning to review the $547 billion Budget tabled Tuesday by Finance Minister Audley Shaw.

Our news centre understands that the meeting will begin at 10 at the Party's Old Hope Road Headquarters.

The PNP Spokespersons are expected to carry out a detailed assessment of the Budget.

This will facilitate the Party issuing a statement outlining its official position on the Government's spending plans for the 2009/2010 Financial Year.

The Government expects to spend $356 billion on recurrent or housekeeping expenses such as wages and salaries.

$191 billion will go towards the capital budget which is used for projects and the development of infrastructure.

This year's Budget represents a $40 billion increase over what was spent last year.

[Muadib]

Well.. I suppose since the PNP is used presenting flawed Budgets so they can bring their experience to bear...

LOL !

[Mosiah]

Let's see if they present a viable alternative and not just tear it apart just because.

[Muadib]

LOL !!!

PNP failed miserably in power.. budget after budget during the years of 'plenty'.. now they are going to present a viable alternative during an economic World Crisis ???

Surreal does not even begin to describe...