Chairman of the Economic Programme Oversight Committee, EPOC, Keith Duncan says the country needs to accelerate economic recovery in order for GOJ to meet revenue targets for this fiscal year.

Mr. Duncan says the country is behind on its tax revenues to complete the remaining six months of financial year.

According to Mr. Duncan, the country’s now running a fiscal deficit, meaning, its spending more than it receives in taxes and other revenues.

He says if taxes don’t rebound, the government will have to cut spending at a time when the economy needs a stimulus.

Yesterday, Finance Minister, Dr. Nigel Clarke, tabled the second supplementary estimates in the House of Representatives.

In it, the the government has further revising downward Jamaica’s primary surplus target to 3-point-1 per cent to, among other measures, cover almost 17 billion dollars in additional expenditure for the current fiscal year.

Mr. Duncan says tourism will be key to this recovery.

He says the pursuit of rapid antigen testing in the tourism sector will be important to bring tourism back online.

Keith Duncan, Chairman of the Economic Programme Oversight Committee.