Jamaican government’s tax revenues, were on target for the first 4 months of the 2014/15 fiscal year, coming in just $611 million short of the target of $112.23 billion.
Only $609 million was collected in grants, as this category fell nearly $3 billion short of target. Overall, total collections, amounted to $121.8 billion, short by $2.6 billion for the period. For the similar period in 2013 inflows amounted to $118.7 billion.
Expenditure fell by a much larger amount than inflows, at $7.7 billion to end at $139.7 billion. Lesser amounts than budgeted were paid out for wages, interest, general and capital expenditures. Government only paid $7.8 billion on the capital side, versus $12 billion budgeted. Reductions of payments were, $737 million for general expenses, wages $1.2 billion and interest $1.6 billion.
The fiscal deficit, improved by $5 billion over target, to reach $18 billion, while the primary surplus was $3.6 billion better than planned. At the same time last year, the deficit was only $5.7 billion and the primary surplus $25 billion or $4.7 billion ahead of target.
GOJ Tax revenues on target
September 4, 2014 by
[…] of Jamaica’s tax revenues for August, fell below target, resulting in a shortfall of $2.56 billion at the end of July, […]