Thread by @DrNigelClarkeJa

Join me on PBCJamaica Live for my 2019/20 Budget Presentation #Budget20192020

Link: facebook.com/pbcjamaica/vid…

Jamaica’s Debt-to-GDP will fall to approximately 96% at the start of this Fiscal Year. This is the first it will fall below 100% in years. #Budget20192020

#GrowthWithEquity #Budget20192020

A necessary and fundamental principle to abide by if we are to achieve this is to manage our financial affairs so as to maintain a sustainable economic path that guarantees stability for future generations. #GrowthWithEquity #Budget20192020

MOFPS is commencing the policy process for a Public Financial Management Policy for Disaster Risk which will be submitted to the Cabinet and laid in Parliament
#GrowthWithEquity #Budget20192020

Overview of 2018/19 Achievements #GrowthWithEquity #Budget20192020

The growth rate for the first half of 2018/19 FY is:

#Double the average rate of the last 40 years.

#Quadruple the average rate of the last 20 years.

#TenTimes the average rate over the last 10 years.

Here are some of the GoJ Policy Priorities for 2019/20: #GrowthWithEquity #Budget20192020

The New Public Procurement Regime will increase efficiency, while enhancing the potential for MSMEs to compete for larger shares of Government Procurement Contracts. #GrowthWithEquity #Budget20192020

Pension Funds play a critical role in securing a stable future for retirees and providing a pool of domestic assets that can be productively used. #GrowthWithEquity #Budget20192020

#PublicSectorTransformation #TaxAdministration #TaxOffice #Budget20192020 #GrowthWithEquity

Regulations to be tabled in the 2019/20 FY to improve governance of public bodies. These regulations will prescribe a transparent process for the nomination, selection, and appointment of persons to the Board of public bodies. #Budget20192020 #GrowthWithEquity

Other Legislative Priorities for the 2019/20 FY include: #MicroCreditAct #CreditUnionLegislation #CustomsAct #GrowthWithEquity

National Security has a capital expenditure allocation of $20.2 billion which represents a 61% increase over prior year.
#SeriousAboutSecurity #GrowthWithEquity #Budget20192020

The GoJ will acquire 1000 new police vehicles, renovate 60 police stations and upgrade barracks and training camps in Western & Central Jamaica. #SeriousAboutSecurity #GrowthWithEquity #Budget20192020

$18.4 billion has been allocated for major infrastructural works being implemented by Ministry of Economic Growth & Job Creation (MEGJC) #Budget20192020 #GrowthWithEquity #Infrastructure

#RuralWater #GrowthWithEquity #RuralJamaica #Budget20192020

Allocations for MSME financing through the DBJ and other intermediaries has been increased to $1.5 billion from $350 million in 2018/19 – a four-fold increase. #GrowthWithEquity #Budget20192020 #MSMEs

#SideCarFund Technical and US$1.5Mn in financial support from the IDB, to help support early stage, scalable and investment-ready start-ups. This will help to address issues that hinder women’s participation in tech-scalable start-ups. #StartUps

Funding for Tertiary Education #GrowthWithEquity #Budget20192020

#SLBReform #GrowthWithEquity
Incentives for borrowers engaged in charitable activities – 10% of loan balance will be forgiven for each full year that borrowers are employed full-time to a registered charity, effective April 1, 2019.

$192 million to MICAF to fund new Global Services Skills Project to be implemented by JAMPRO. #GrowthWithEquity #Budget20192020

#MinimumBusinessTax: Abolished #AssetTaxForNonFinancialBusinesses: Abolished #TimeToGiveBack