KINGSTON, Jamaica — Minister of Finance and the Public Service, Dr Nigel Clarke, is expected to table the third supplementary estimates for 2020/21 tomorrow, when the House of Representatives resumes sitting.
The 2020/21 Budget (estimates of expenditure) was approved in February 2020, with expenditures set at $853.5 billion. However, by May, the Government was forced to table its first supplementary budget, which slashed spending to $838.1 billion.
The capital budget was slashed by 38 per cent, from $76.2 billion to $46.1 billion, amid a projected 5.1 per cent decline in GDP, and an 18 per cent decline in revenues. The primary surplus target was revised down to 3.5 per cent and the debt ratio projected to increase to 98 of GDP.
A secondary supplementary budget was passed in October, proposing an overall additional expenditure of $15.7 billion to generate total expenditure of $853.7 billion.
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