Finance minister to speak on economy Tuesday
Williams expected to also table 3rd supplementary estimates
Published:Thursday | November 27, 2025 | 12:07 AMEdmond Campbell/Senior Parliamentary Reporter
Finance Minister Fayval Williams will next Tuesday table the third Supplementary Estimates of Expenditure and update the nation on the various sources of financing to help Jamaica recover from the devastation caused by Hurricane Melissa.
The third supplementary estimates is expected to set out significant changes to capital expenditure for the current fiscal year, owing to the huge impact the Category 5 storm had on government infrastructure such as hospitals and schools.
Speaking in Parliament on Tuesday, Prime Minister Dr Andrew Holness said Williams will provide information on the process to amend legislation to adjust the fiscal rules in relation to the debt-to-GDP target.
The prime minister was responding to questions being posed by Opposition Spokesman on Finance Julian Robinson in Gordon House.
Robinson had earlier observed that several ministers have made statements in Parliament on the administration’s recovery efforts and plans going forward for the country, with the exception of the finance minister.
The opposition spokesman charged that four weeks had passed since the passage of Hurricane Melissa and Williams is yet to make a statement in Parliament on “how much money we have and how the funds are going to be used”.
“Every other minister can speak, can say many things, but if the minister of finance cannot speak ... ,” Robinson said, without completing his thought.
In quizzing the prime minister, Robinson wanted to know when the finance minister would update the country on all the money received from insurance payments, and funding from the multilateral agencies, such as the International Monetary Fund, the World Bank and the Inter-American Development Bank.
The opposition spokesman also wants his government counterpart to outline the administration’s short-term projection for the debt-to-GDP ratio.
Jamaica was on target to reduce its debt-to-GDP ratio to 60 per cent by March 2026.
The Planning Institute of Jamaica (PIOJ) says the Jamaican economy is expected to contract by between 11 and 13 per cent in the December 2025 quarter.
Speaking on Tuesday at the PIOJ’s quarterly press briefing, Director General Dr Wayne Henry said the estimated contraction in the economy for the December quarter was “unprecedented and far-reaching”, and would result in increased unemployment and weakening demand.
The prime minister told Robinson that the finance minister will speak next week on fiscal issues. However, he indicated that the legislative process to change the fiscal rules had already started.