Estimates of Expenditure for 2017/18
The Government of Jamaica (GOJ) tabled its Estimates of Expenditure for 2017/18 featuring a $710 billion budget which is a 19.8 per cent increase over last year’s budget of $587.08 billion. . However, the Real increase in the budget is approximately five per cent (5%), or approximately in line with the rate of projected inflation for the fiscal year.
The proposal for spending shows a 38 per cent increase in total debt servicing, against an 8.5 per cent increase in non-debt expenditure. Recurrent expenditure is covered by $347 billion.
Capital expenditure is up 17.3 per cent over last year to $53 billion, with $22.7 billion allocated to the Ministry of Economic Growth and Job Creation, and $18.7 billion of the amount for the Major Infrastructure Development Programme (MIDP).
