The country’s financial health is good as the fiscal benchmarks are either on track or exceeding their targets.

In some instances, the fiscal out-turns are now surpassing pre-pandemic levels.

That’s according to the latest information from the Economic Programme Oversight Committee, EPOC.

However, EPOC’s warning that the drag on the Jamaican economy caused by inflation remains a significant challenge.

Chevon Campbell reports.

EPOC Chairman, Keith Duncan, says the oversight body remains bullish about the Jamaican economy.

He says all indicators remain positive though inflation remains a threat.

For the fiscal year 2021/2022 the government outperformed its fiscal and primary balance targets.

The same obtained for the April to May quarter of the current fiscal year.

A deeper dive found that revenues and grants outperformed for the fiscal year and nominally came in ahead of pre-Covid-19 numbers.

Jamaica’s fiscal surplus targets are also well ahead.

For financial year 21/22 Jamaica’s surplus stood at just over 82 billion dollars, which is 135 per cent ahead of the 60 billion dollar deficit recorded for the previous fiscal year.

It also outperformed the pre-covid surplus total by over two billion dollars.

Similarly, Jamaica’s debt to GDP targets also did well with the country on track to reach the 2028 target of 60 per cent.