On March 9^th, 2021, the Government of Jamaica (GOJ) presented its plan to Parliament to fund the 2021/22 National Expenditure Budget of JMD 830.78 billion. In his Budget Speech, Dr the Honourable Nigel Clarke, Minister of Finance and the Public Service outlined how this expenditure would be financed. With 2020/21 Revenue Estimates projected at JMD 807.32 billion, the Minister proposed “NO NEW TAXES” to fund the shortfall, instead preferring to avail of the fiscal space provided by a one-off dividend coming from the Bank of Jamaica (BoJ) of JMD 33 billion.

Questions:

Give a summary of what was outlined in the budget presentation by Dr the Honourable Nigel Clarke.

Answer rating: 100% (QA)

Budget presented by Dr the honorable night Clarke will result into overall surplus of JMD 95... View the full answer