Per capita savings fall into the red

Jamaica Observer: “Per capita savings fall into the red”

Per capita savings have fallen below zero for the first time since 1985, according to data published by the Statistical Institute of Jamaica.

Jamaica Observer: “Golding unfazed by $175-b interest burden”

Prime Minister Bruce Golding noted following tabling of the supplementary budget this week that a local businessman had contacted him to express “surprise that the government budget had gone up and not down.”

Plugging the hole – $6b gap in Budget to be filled with more borrowing

Jamaica Gleaner: “Plugging the hole – $6b gap in Budget to be filled with more borrowing”

The Government yesterday signalled that it would be going to the market to plug the $6-billion gap in the Budget. “There is going to have be some increase in borrowing,” Finance Minister Audley Shaw told journalists at yesterday’s post-Cabinet press briefing.

Jamaica Observer: “Supplementary Estimates tell the grim story”

If anyone still harboured any doubt – unlikely as that would be – that this Government, and this country too, are firmly hemmed in between a rock and a hard place, the First Supplementary Estimates tabled Tuesday in Parliament would have soundly dispelled any such notion.

Budget shocker – Gov’t plans to spend $6b more than initially projected

Jamaica Gleaner: “Budget shocker – Gov’t plans to spend $6b more than initially projected”

The Government has tacked on just over $6 billion to its spending plans for the fiscal year despite repeated pronouncements from Prime Minister Bruce Golding that a major shortfall in revenue would lead to a sharp cut in the Budget.

Jamaica Gleaner: “Money worries – Analysts wonder how Government will finance increased Budget”

Several questions are now being asked about how the Government will finance the $561-billion revised Budget tabled in Parliament yesterday.

Jamaica Gleaner: “Government sides with Opposition over bank rates”

Finance Minister Audley Shaw and Opposition Leader Portia Simpson Miller are certainly at odds over the state of Jamaica’s negotiations with the International Monetary Fund (IMF) but, in a rare moment of convergence of views, they have found common ground on the need for commercial banks to cut lending rates.