GOJ revenues beating estimates

Revenues for Government of Jamaica continue to outpace forecast, with the latest figures showing a 5.2 percent amounting to $17.4 billion increase over budget to December last year.
Revenues ended at $352 billion inclusive of capital inflows of $14.6 billion, compared with forecast of $334 billion. The main contributors company profit taxes and PAYE $2.4 billion each, and tax on interest, amounting to $2.8 billion. Special consumption taxes accounted for an increase of $2.3 billion, Education tax added $822 million, Stamp duties $1.3 billion and Custom Duties $1 billion. Travel and special consumption taxes and GCT on imports, cut $3.5 billion from forecast.
Capital spending is still running $5.4 billion below the target of $35 billion while other expenditure is under-spent by $3.7 billion, with wages down $5.2 billion and interest cost $3.9 billion, while other operating cost is up $4.3 billion over forecast.
The fiscal out turn, is a cut in the fiscal deficit by $26.6 billion, down to $23.7 billion.