[GOJ] $16Bn budget hike

• Despite the misfortune of the COVID-19 pandemic, the Government of Jamaica is scaling up its expenditure budget for 2020/21 by $15.7 billion.
• Minister of Finance and the Public Service Dr. Nigel Clarke yesterday made the announcement while opening debate on the second supplementary estimates in the House of Representatives, which is being held temporarily at the Jamaica Conference Centre.
• The budget, which was trimmed from the original $853.5 billion to $838.7 billion following the first supplementary estimate, now stands at $853.7 billion.
• He explained that it is for this reason the Government is also increasing the capital expenditure component of the budget by $6 billion, of which $4.6 billion will go towards the South Coast Highway Improvement Project.

(Source: Bloomberg)