GOJ rakes in $4 billion more taxes

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.