The Government of Jamaica has proposed to spend a total of $830.8 billion for the 2021/22 fiscal year.
This is comprised of recurrent programme expenditure of $247.8 billion; compensation of employees, $239.2 billion; capital expenditure of $54.2 billion; debt servicing of $272.2 billion; and loans to public bodies of $17.3 billion.
Minister of Finance and the Public Service, Dr Nigel Clarke, made the disclosure as he tabled the Estimates of Expenditure in the House of Representatives on Thursday (February 18).
The minister told the House that the budget follows a year of economic contraction due to the measures undertaken to slow the spread of the coronavirus (COVID-19).
He noted that by the end of March, Jamaica would have experienced five consecutive quarters of economic decline.
He said that the task for the upcoming fiscal year is to begin the economic recovery.
Dr Clarke told the House that the Government’s priorities for recovery include ensuring that there is adequate provisions for vaccines.