Tax revenues were $6.2 billion better than projected in the Government's budget for the fiscal year to November 2015, a new phenomenon that should position Jamaica to hurdle the 11th quarterly IMF test, said co-chairman of the Economic Programme...
The Court of Appeal has overturned a Public Services Commission (PSC) directive that a prison warder, who it was contended only did 20 years of work in his 37 years on the job at the Correctional Services Department, be paid only 50 per cent of his...
The government is moving to tighten control of its financial arrangements by further consolidating its funds into one account and closing those currently used by ministries, departments, and agencies to deposit funds earmarked as Appropriations in...
The Jamaican Government is considering reopening the domestic bond market in the context of the large National Debt Exchange payment due in February, according to documents submitted to the International Monetary Fund (IMF).The redemption of J$62...
The success of Jamaica's economic reform programme under the tutelage of the International Monetary Fund (IMF) is hinged on, among other things, the country's ability to enhance its competitiveness, according to the Bank of Jamaica (BOJ).At the same...
A modest recovery in per capita gross domestic product growth is expected to slightly reduce Jamaica's poverty rate from 19.9 per cent in 2012 to 18.7 per cent in 2016, according to the World Bank.The impact of...
The World Bank has suggested that a small programmed increase in capital investment should help to facilitate economic growth in Jamaica as falling debt-service payments expand the available fiscal space.It said Jamaica's current level of capital...
The Bank of Jamaica (BOJ) has attributed the sustained fiscal consolidation under Jamaica's economic support programme with the International Monetary Fund (IMF) to the faster-than-expected decline in inflation since April 2013.1The inflation rate...
The Bank of Jamaica (BOJ) is assessing comments provided by stakeholders on a consultation paper for the development of an agency banking model before moving to the next step of finalising instructions for the drafting of regulations by the Chief...
Kingston Wharves Limited has acquired a US$4 million ($480 million) mobile harbour crane, the largest in operation in Jamaica.The Liebherr LHM 550 brings the company's fleet of cranes to five. It is capable of lifting up to 140 tons of cargo,...
Caribbean Cement Company Limited (CCCL) has recornered most of the cement market, having struck a deal with Tank-Weld Metals that sees the construction materials company exiting imports and signing up instead as a distribution agent for the local...
Finance and Planning Minister Dr Peter Phillips said the 100,000 jobs expected to be created by the incumbent government over the next five years is not a promise, but rather a projection.Referring to the latest labour force survey undertaken by the...
The Planning Institute of Jamaica (PIOJ) said the economy expanded by 1.5 per cent during the July to September quarter, the strongest growth recorded since last year's June quarter.PIOJ Director General Colin Bullock said the increased growth was...
Kingston Wharves Limited (KWL) is buying new cranes and other equipment to handle increased business at the port. Delivery and commissioning of the equipment is expected before year end. Profits are up by 42 per cent so far this year, with the port...
THE PRIMARY surplus target of 7.5 per cent of gross domestic product (GDP) under the economic support programme with the International Monetary Fund (IMF) is to be revised to 7.25 per cent for the current fiscal year and 7.0 per cent for fiscal year...
Despite pronouncements about the positive fiscal and monetary indicators which have led to improvements in the economy over the past two years, the Government is not seen to be doing enough to relay the importance of Jamaica's economic support...
Companies which enter into master-concession or licence agreements to carry out business in Jamaica's special economic zones (SEZ) will be taxed at half the rate of regular corporations, assuming passage of legislation tabled in the house.The 12.5...
Provisions made by the Government for special economic zones (SEZs) will pose a challenge to Jamaica's still-developing revenue administration and will require strong safeguards to contain potential tax revenue leakage, according to the...
