Parliament asked to approve $60b increase in budget
The Lower House has been asked to approve a $60 billion increase in the government’s budget for this fiscal year.
The supplementary estimates were brought to parliament by Finance Minister Dr. Nigel Clarke.
The minister outlined that the Russia-Ukraine war impacted the budget, which led to several support systems being implemented, such as monetary grants to members of vulnerable groups and public transport operators.
Dr. Clarke further explained that the increased budget is due to, among other things, allocations for the de-bushing programme, the Jamaica Urban Transit Company (JUTC), and payment of arrears.
Also factored into the increased budget, is the public sector compensation review programme.
Meantime, the Finance Minister indicated that the $60 billion increase in the budget will be covered by an expected increase in revenue flow.