Finance Minister Dr. Nigel Clarke says it’s by careful design that capital expenditure this year is tracking ahead of projections.
He says it’s evidence that the Government is executing its plan to increase productivity at a significant pace.
Dr. Clarke was speaking in the House of Representatives about a policy paper which he had tabled in the lower house for the fiscal year 2018/2019.
He says the capital expenditure shows that the Government’s economic programme is working.
Meanwhile, Opposition Spokesman on Finance, Mark Golding, is welcoming word that Jamaica’s Debt to Gross Domestic Product, GDP ratio, is now below 100.
A few years ago, Jamaica’s debt as a proportion of GDP was approximately 147 percent. But Finance Minister Dr. Nigel Clarke told the House of Representatives yesterday that the debt to GDP ratio has dipped to 98-percent.
Mr. Golding greeted the development. He says it’s an indication that successive administrations are mature enough to follow through on good economic policy initiatives in the interest of Jamaica.
Mr. Golding took some credit for the dip in Jamaica’s debt to GDP ratio to below 1-hundred percent.
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