- The House is reminded that late in December 2013 the Government of Jamaica laid in this Honourable House the Fiscal Policy Paper -Interim Report and an adjusted Letter of Intent and Memorandum of Economic and Financial Polices (MEFP).
- I wish to make some comments on both documents, and I will also use this opportunity to provide an update on the economy and the challenges confronting us in the New Year.
2.0 UPDATE ON THE ECONOMY FISCAL PERFORMANCE -APRIL 2013-NOVEMBER 2013
2.1 CENTRAL GOVERNMENT PRIMARY SURPLUS AND FISCAL DEFICIT
- Fiscal performance has remained resilient throughout FY 2013/14, with Central Government primary surplus and budget deficit targets, all being met.
- Provisional information indicates that the Central Government primary surplus to November 2013 amounted to $42.5 billion.
- This continuing fiscal consolidation effort bodes well for the attainment of the key primary surplus target of 7.5% of GDP for FY 2013/14 and over the medium term.
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