Fitch rating agency expects the Jamaican Government to spend more than it earns in the upcoming fiscal year but is maintaining a stable rating for the country despite the expected deficit.
The Jamaican flag was placed atop the New York Stock Exchange building in the United States yesterday in honour of the Jamaica Stock Exchange (JSE) and its successful performance over the past years.
Jamaica is well known for its beautiful beaches, Bob Marley and its reggae music. What is less known, however, is that the Caribbean island started a silent revolution after being one of the most indebted developing countries in the world. Jamaica has shown an extraordinary macroeconomic turnaround.
$14-b tax giveback
Finance Minister Dr Nigel Clarke yesterday created a stir in the country when he announced that the Government was â€œgiving backâ€ $14 billion to taxpayers…Clarke said that the Government has decided on a stimulus path on the basis that Jamaica is now in the â€œbest shapeâ€ it has been compared to any other period in the last 50 years.