August 2018 — Page 12

Jamaica’s Ministry of Finance newest office building

Government of Jamaica’s fiscal operations continue to perform above target with tax revenues to June rising $4 billion above forecast to $128 billion versus projection of $124.6 billion and expenditure falling $6 billion below forecast.
At the end of the quarter, the central government operations delivered a surplus of $6.5 billion with May and June enjoying surpluses of $4 billion and $8 billion respectively, but April suffered a deficit of $5.7 billion.
Expenditure fell $6 billion below the $128 billion projected. Interest cost ended at $25 billion or nearly $4 billion lower than planned and expenditure other than wages, came in at $3.6 billion lighter than the $48.6 budgeted. Grants received, fell $3 billion below forecast of $4 billion. The primary surplus set to end at $28.5 billion, ended instead at $31.34 billion.
Income tax collections bettered forecast by $3 billion, to reach $46 billion, while consumption taxes, rose nearly $2 billion above forecast.

AJI crosses 345,000 mark

The main market of the Jamaica Stock exchange jumped to a new record high in early morning trading on Thursday with All Jamaican Composite Index crossing the 345,000 points mark for the first time.
Having traded at a number of record intraday highs on Friday and closing at a new end of day record, with more than 3,000 points rally, the All Jamaican Composite Index advanced by 1,257.21 points to a record high of 345,208.15 and the JSE Index gained 1,145.46 points to close at 314,523.59, a new record high as well. The Junior Market was down by 7.16 points to 3,094.98.
On Friday, the All Jamaican Composite Index jumped 3,071.05 points to close at a record of 343,950.94 and the JSE Index climbed 2,798.07 points to close at 313,378.13.