Revenue and grants for the government of Jamaica climbed 7 percent ahead of forecast with an increase of $11.6 billion over the budget of $163.8 billion to end at $175.4 billion for the three months to June this year. Expenditure, on the other hand, fell 4.6 percent or $7.6 billion to $165.7 billion.
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Tax revenues brought in $12 billion more than forecast and recurrent expenditure accounted for $7.6 billion of the underspending. Capital Spend was marginally more than the $18 billion budgeted.
Non-Tax revenues amount to $42.8 billion, with $34.5 billion collected in April and would have included the dividend from the Bank of Jamaica.
The government operation ended with a $5 million surplus in June and ended the three month period with a deficit of $1.7 billion, $22.4 billion better than forecast.
International Trade brought in 22 percent more revenues than the budgeted amount for the three months period, with a collection of $47.8 billion versus a forecast of $39 billion. Production and consumption taxes contributed $3.4 billion more to the revenue intake than planned, with an intake of $47.7 billion versus $44.3 budgeted.
