Co-Chairman of the Economic Planning Oversight Committee, EPOC, Keith Duncan, is expressing concern that the government is not fully meeting its budgeted target for capital expenditure.
Mr. Duncan was speaking at an EPOC media briefing last week, at the JMMB headquarters in New Kingston. He notes that government expenditure for the first four months of the fiscal year April to July were below budget.
However, of particular note, the government under spent on capital projects by approximately 800-million dollars.
Capital Expenditure is money spent to upgrade a country’s infrastructure.
Mr. Duncan says it is important the government meet this target as a means to drive further growth in the economy.
He says proper capital spending will have a major multiplier effect on growth.
Mr. Duncan says he expects the country to pass the next scheduled assessment by the IMF under the precautionary stand by arrangement.