Government of Jamaica (GOJ) maintains Fiscal Discipline

    JN Fund Managers
    JN Fund Managers

    The Government of Jamaica (GOJ) recorded a primary surplus for the two-month period ending May 31, 2018. For the first two months of the 2018/19 fiscal year, the GOJ exceeded its primary balance target by J$1.5B, or 10.7%, to achieve a balance of J$15.75B. Year-over-year, this represented an increase of approximately 1.67% relative to the J$15.5B surplus recorded for the corresponding period in 2017. This was largely driven by an increase in loan receipts received for the period, exceeding the budget by 45.4%. Total revenue for the period was marginally higher than the budget, with only a J$472.7M or 0.6% difference to the budgeted J$84.59B. Meanwhile, expenditure for the period was also marginally in line with budget, underperforming by J$517.0M or 0.6%. Jamaica recorded a fiscal surplus of J$3.2B for the month of May after previously recording a deficit in April, bringing the year-to-date fiscal deficit down to J$2.46B.

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