Exhibit C
INDEX TO REVENUE ESTIMATES AND FINANCIAL STATEMENTS FOR THE GOVERNMENT OF JAMAICA FOR THE YEAR ENDING MARCH 31, 2024
Page No. | ||||
I) ESTIMATES OF REVENUE 2024/2025 | ||||
A. STATEMENT OF REVENUE ESTIMATES | ||||
Statement I – Summary of Revenue and Loan Receipts | 1 | |||
Statement II – Details of Revenue and Loan Receipts | 2 | |||
B. STATEMENT OF FINANCING OF THE BUDGET | ||||
Statement III – Summary of Revenue Estimates and Estimates of Expenditure | 10 | |||
Statement IV – Statement of the Financing of the Estimates of Expenditure | 13 | |||
Statement V – Statement of Statutory Expenditure Charged to the Consolidated Fund | 14 | |||
II) FINANCIAL STATEMENTS 2023/2024 | ||||
Statement I – Receipts and Payments of the Consolidated Fund | 26 | |||
Statement II – Statement of Financing | 28 | |||
Statement III – Statement of Receipts of the Consolidated Fund Compared with Estimates | 29 | |||
Statement IV – Statement of Expenditure Compared with Issues from the Consolidated Fund | 31 | |||
Statement V – Statement of Consolidated Fund Balances | 33 | |||
Statement VI – Statement of Cash Flows | 34 | |||
Statement VII – Statement of Transfers from the Capital Development Fund | 35 | |||
Statement VIII – Contingencies Fund | 36 | |||
Statement IX – Local (Internal) Debt and Foreign (External) Debt | 37 | |||
Notes to the Financial Statements | 39 |
Exhibit C
JAMAICA
REVENUE ESTIMATES
2024/2025
For the Financial Year Ending
31st March 2025
Ministry of Finance and the Public Service | As Presented to the House of | |
Representatives on the | ||
15th day of February 2024 |
2024-2025 JAMAICA BUDGET
STATEMENT I
REVENUE AND LOAN RECEIPTS
SUMMARY
Head | Estimates 2022/2023 $ | Estimates 2023/2024 $ | Consolidated Fund Receipts 2023/2024 (December 2023) $ | Estimates 2024/2025 $ | ||||||||||||||
I | RECURRENT REVENUE | |||||||||||||||||
TAXATION | ||||||||||||||||||
Customs | 59,246,035,025 | 63,514,530,000 | 46,338,014,311 | 66,452,217,066 | ||||||||||||||
Income Tax | 189,590,797,067 | 251,829,621,669 | 173,760,232,288 | 321,713,616,773 | ||||||||||||||
Stamp Duties | 10,081,715,475 | 13,074,113,729 | 15,469,290,005 | 13,141,722,225 | ||||||||||||||
Motor Vehicle Licences (Motor Vehicle Act) | 5,132,047,500 | 5,891,877,908 | 3,792,901,440 | 5,496,329,853 | ||||||||||||||
Other Licences | 1,546,541,196 | 1,268,522,157 | 191,390,940 | 361,611,939 | ||||||||||||||
Travel Tax | 15,799,100,000 | 28,674,790,000 | 21,079,659,436 | 34,138,653,119 | ||||||||||||||
Betting, Gaming and Lotteries-Duties, Fees and Levies | 8,023,787,100 | 9,661,920,940 | 5,823,317,936 | 11,306,790,046 | ||||||||||||||
Education Tax | 36,700,287,000 | 48,119,125,402 | 34,261,946,889 | 53,620,847,724 | ||||||||||||||
Contractors Levy | 2,540,120,700 | 3,118,889,465 | 2,051,632,594 | 3,137,826,800 | ||||||||||||||
General Consumption Tax | 237,587,065,800 | 279,036,663,433 | 201,538,292,576 | 300,855,855,465 | ||||||||||||||
Special Consumption Tax | 92,072,800,000 | 104,002,808,052 | 70,758,514,314 | 99,050,067,009 | ||||||||||||||
Environmental Levy | 5,490,770,000 | 6,620,368,517 | 4,749,945,778 | 6,697,555,737 | ||||||||||||||
Telephone Call Tax | 3,219,695,000 | 3,607,997,396 | 2,173,710,692 | 3,199,376,117 | ||||||||||||||
Guest Accomodation Room Tax | 2,577,234,700 | 3,592,752,403 | 2,524,519,202 | 3,979,432,867 | ||||||||||||||
Minimum Business Tax | — | 72,783,271 | — | |||||||||||||||
Quarry Tax | 75,600,000 | 110,054,579 | 23,840,538 | 91,592,770 | ||||||||||||||
Import Licences-Trade Board | 323,848,704 | 327,036,504 | 258,130,334 | 551,338,417 | ||||||||||||||
Telecommunication Licences | 1,528,653,600 | 1,844,736,282 | 202,079,651 | 581,452,110 | ||||||||||||||
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TOTAL | 671,536,098,867 | 824,295,808,438 | 585,070,202,196 | 924,376,286,036 | ||||||||||||||
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II | NON-TAX REVENUE | 65,398,700,000 | 65,228,522,019 | 50,927,074,456 | 103,701,082,853 | |||||||||||||
MISCELLANEOUS RECEIPTS (UNCLASSIFIED) | — | — | — | |||||||||||||||
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TOTAL RECURRENT REVENUE | 736,934,798,867 | 889,524,330,457 | 635,997,276,652 | 1,028,077,368,888 | ||||||||||||||
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III | CAPITAL REVENUE | |||||||||||||||||
Land Sales | — | — | — | — | ||||||||||||||
Loan Repayments | 1,477,000,000 | 168,331,257 | — | — | ||||||||||||||
Extraordinary Receipts: Miscelleanous | 32,514,600,000 | 15,826,200,000 | 5,865,973,895 | 14,502,700,000 | ||||||||||||||
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TOTAL CAPITAL REVENUE | 33,991,600,000 | 15,994,531,257 | 5,865,973,895 | 14,502,700,000 | ||||||||||||||
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TOTAL RECURRENT AND CAPITAL REVENUE | 770,926,398,867 | 905,518,861,714 | 641,863,250,547 | 1,042,580,068,888 | ||||||||||||||
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IV | GRANTS | |||||||||||||||||
(I) | TRANSFER FROM CAPITAL DEVELOPMENT FUND | |||||||||||||||||
Transfers to Current Account | 4,908,300,000 | 1,283,400,000 | — | 887,500,000 | ||||||||||||||
Transfers to Capital Account | — | — | — | — | ||||||||||||||
Other | — | — | — | — | ||||||||||||||
(II) | EXTERNAL GRANTS | |||||||||||||||||
Grants from the European Union | — | — | — | — | ||||||||||||||
Miscellaneous Grants | 6,459,981,000 | — | 15,502,151,476 | — | ||||||||||||||
Other Grants | — | 6,591,107,000 | 88,180 | 4,629,700,000 | ||||||||||||||
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TOTAL GRANTS | 11,368,281,000 | 7,874,507,000 | 15,502,239,656 | 5,517,200,000 | ||||||||||||||
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V | LOAN RECEIPTS | |||||||||||||||||
Loan receipts | 124,130,100,000 | 139,472,470,766 | 99,543,688,810 | 191,440,400,000 | ||||||||||||||
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TOTAL LOAN RECEIPTS | 124,130,100,000 | 139,472,470,766 | 99,543,688,810 | 191,440,400,000 | ||||||||||||||
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TOTAL REVENUE AND LOAN RECEIPTS | 906,424,779,867 | 1,052,865,839,480 | 756,909,179,014 | 1,239,537,668,888 | ||||||||||||||
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The Consolidated Fund Receipts are subject to change
1
2024/2025 JAMAICA BUDGET
STATEMENT II
DETAILS OF REVENUE AND LOAN RECEIPTS
REVENUE ITEM DESCRIPTION | Estimates 2022/2023 (‘1) | Estimates 2023/2024 (‘2) | Fund Receipts 2023/2024 (as at Dec-23) (‘3) | Estimates 2024/2025 (‘4) | Budget Increase(+) / Decrease (-) [(4)-(2)] | |||||||||||||||
J$ | J$ | J$ | J$ | J$ | ||||||||||||||||
TAX REVENUE | ||||||||||||||||||||
Import Duties | 59,246,035,025 | 63,514,530,000 | 46,338,014,311 | 66,452,217,066 | 2,937,687,066 | |||||||||||||||
Income Tax-Companies | 77,522,678,567 | 97,019,483,421 | 47,245,860,413 | 121,411,278,260 | 24,391,794,839 | |||||||||||||||
Income Tax- Individuals | 88,989,286,500 | 124,213,346,504 | 99,063,024,203 | 159,292,838,434 | 35,079,491,930 | |||||||||||||||
Tax on Interest/Dividend | 23,078,832,000 | 30,596,791,743 | 27,451,347,672 | 41,009,500,079 | 10,412,708,336 | |||||||||||||||
Stamp Duties (local) | 6,490,290,800 | 8,655,713,729 | 10,350,379,624 | 8,690,229,871 | 34,516,142 | |||||||||||||||
Stamp Duties (import) | 3,591,424,675 | 4,418,400,000 | 5,118,910,381 | 4,451,492,355 | 33,092,355 | |||||||||||||||
Motor Vehicle Licences | 5,132,047,500 | 5,891,877,908 | 3,792,901,440 | 5,496,329,853 | -395,548,055 | |||||||||||||||
Customs Brokers | 2,866,369 | 2,350,928 | 785,000 | 3,780,766 | 1,429,837 | |||||||||||||||
Gaming Machines | 1,273,249,173 | 1,044,289,051 | 150,595,805 | 1,127,088,434 | 82,799,383 | |||||||||||||||
Tourist Shop Licence | 38,799,400 | 31,822,356 | 6,187,659 | 51,176,749 | 19,354,393 | |||||||||||||||
Tourist Shop Operators Licence | 63,608,233 | 52,169,978 | 10,757,740 | 83,899,818 | 31,729,840 | |||||||||||||||
Hotel Licence Duty | 23,774,187 | 19,499,029 | 4,726,240 | 31,358,361 | 11,859,332 | |||||||||||||||
Other Licences | 144,243,835 | 118,390,815 | 18,338,497 | 191,396,245 | 73,005,430 | |||||||||||||||
Travel Tax | 11,485,945,700 | 20,846,572,330 | 14,344,000,096 | 24,818,800,817 | 3,972,228,487 | |||||||||||||||
Passenger Levy | 4,313,154,300 | 7,828,217,670 | 6,735,659,340 | 9,319,852,301 | 1,491,634,631 | |||||||||||||||
Betting, Gaming and Lotteries | 8,023,787,100 | 9,661,920,940 | 5,823,317,936 | 10,179,701,612 | 517,780,671 | |||||||||||||||
Education Tax | 36,700,287,000 | 48,119,125,402 | 34,261,946,889 | 53,620,847,724 | 5,501,722,321 | |||||||||||||||
Contractors Levy | 2,540,120,700 | 3,118,889,465 | 2,051,632,594 | 3,137,826,800 | 18,937,335 | |||||||||||||||
General Consumption Tax | 119,622,219,900 | 156,438,503,433 | 88,038,204,834 | 172,902,646,791 | 16,464,143,358 | |||||||||||||||
General Consumption Tax | 117,964,845,900 | 122,598,160,000 | 113,500,087,742 | 127,953,208,674 | 5,355,048,674 | |||||||||||||||
Special Consumption Tax | 29,777,600,000 | 30,631,243,667 | 54,218,390,212 | 24,832,869,573 | -5,798,374,094 | |||||||||||||||
Special Consumption Tax | 62,295,200,000 | 73,371,564,386 | 16,540,124,102 | 74,217,197,437 | 845,633,051 | |||||||||||||||
Environmental Levy | 731,000,000 | 752,164,738 | 4,145,332,979 | 862,368,909 | 110,204,171 | |||||||||||||||
Environmental Levy | 4,759,770,000 | 5,868,203,779 | 604,612,799 | 5,835,186,828 | -33,016,951 | |||||||||||||||
Telephone Call Tax | 3,219,695,000 | 3,607,997,396 | 2,173,710,692 | 3,199,376,117 | -408,621,279 | |||||||||||||||
Guest Accomodation Room Tax | 2,577,234,700 | 3,592,752,403 | 2,524,519,202 | 3,979,432,867 | 386,680,463 | |||||||||||||||
Minimum Business Tax | — | 72,783,271 | — | — | ||||||||||||||||
Quarry Tax | 75,600,000 | 110,054,579 | 23,840,538 | 91,592,770 | -18,461,809 | |||||||||||||||
Import Licences-Trade Board | 323,848,704 | 327,036,504 | 258,130,334 | 551,338,417 | 224,301,913 | |||||||||||||||
Telecommunication Licences | 1,528,653,600 | 1,844,736,282 | 202,079,651 | 581,452,110 | -1,263,284,172 | |||||||||||||||
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TOTAL TAX REVENUE | 671,536,098,867 | 824,295,808,438 | 585,070,202,196 | 924,376,286,036 | 100,080,477,598 | |||||||||||||||
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HIS EXCELLENCY THE GOVERNOR GENERAL AND STAFF | — | — | ||||||||||||||||||
Processing Fees | — | |||||||||||||||||||
Miscelleanous Receipts | — | 4,371 | — | 4,371 | — | |||||||||||||||
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TOTAL- HIS EXCELLENCY THE GOVERNOR GENERAL AND STAFF | — | 4,371 | — | 4,371 | — | |||||||||||||||
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HOUSE OF PARLIAMENT | — | |||||||||||||||||||
Miscelleanous Fees (Food & Beverage) | 5,600,000 | 5,600,000 | 226,275 | 5,600,000 | — | |||||||||||||||
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TOTAL- HOUSE OF PARLIAMENT | 5,600,000 | 5,600,000 | 226,275 | 5,600,000 | — | |||||||||||||||
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INDECOM | 12,000 | |||||||||||||||||||
PUBLIC PROCUREMENT COMMISSION (PPC) | — | |||||||||||||||||||
Registration Fees | 6,000,000 | 7,350,000 | 2,765,000 | -7,350,000 | ||||||||||||||||
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TOTAL- PUBLIC PROCUREMENT COMMISSION | 6,000,000 | 7,350,000 | 2,765,000 | — | -7,350,000 | |||||||||||||||
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AUDITOR GENERAL’S DEPARTMENT | ||||||||||||||||||||
Audit Fees | 5,000,000 | — | ||||||||||||||||||
Miscelleanous Fees | 3,000 | 3,000 | 24,840 | 5,000 | -2,000 | |||||||||||||||
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TOTAL- AUDITOR GENERAL’S DEPARTMENT | 5,003,000 | 3,000 | 24,840 | 5,000 | -2,000 | |||||||||||||||
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OFFICE OF THE SERVICES COMMISSIONS | ||||||||||||||||||||
Processing Fees | 7,000 | 7,400 | — | 7,500 | 100 | |||||||||||||||
Miscelleanous Fees | 63,000 | 67,000 | 4,340 | 5,000 | -62,000 | |||||||||||||||
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TOTAL-OFFICE OF THE SERVICES COMMISSIONS | 70,000 | 74,400 | 4,340 | 12,500 | -61,900 | |||||||||||||||
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OFFICE OF THE PRIME MINISTER | ||||||||||||||||||||
Rental Charges | 900,000 | 2,200,000 | 1,125,000 | 2,400,000 | 200,000 | |||||||||||||||
Irrevocable Order | 10,000 | 10,000 | — | 15,000 | ||||||||||||||||
Miscelleanous Receipts | 485,000 | 485,000 | 14,418,143 | 2,000,000 | 1,515,000 | |||||||||||||||
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TOTAL-OFFICE OF THE PRIME MINISTER | 1,395,000 | 2,695,000 | 15,543,143 | 4,415,000 | 1,515,000 | |||||||||||||||
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ELECTORAL COMMISSION | ||||||||||||||||||||
Registration and ID Card Service | — | — | — |
2
2024/2025 JAMAICA BUDGET
STATEMENT II
DETAILS OF REVENUE AND LOAN RECEIPTS
REVENUE ITEM DESCRIPTION | Estimates 2022/2023 (‘1) | Estimates 2023/2024 (‘2) | Fund Receipts 2023/2024 (as at Dec-23) (‘3) | Estimates 2024/2025 (‘4) | Budget Increase(+) / Decrease (-) [(4)-(2)] | |||||||||||||||
J$ | J$ | J$ | J$ | J$ | ||||||||||||||||
Miscelleanous Receipts | — | — | — | |||||||||||||||||
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TOTAL- ELECTORAL COMMISSION | — | — | — | — | — | |||||||||||||||
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OFFICE OF THE CABINET | ||||||||||||||||||||
Irrevocable Order | 5,000 | 8,000 | — | 3,000 | -5,000 | |||||||||||||||
Miscelleanous Receipts | 10,000 | 14,000 | 689,474 | 30,000 | 16,000 | |||||||||||||||
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TOTAL- OFFICE OF THE CABINET | 15,000 | 22,000 | 689,474 | 33,000 | 11,000 | |||||||||||||||
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MINISTRY OF TOURISM | ||||||||||||||||||||
Irrevocable Order | 3,000 | 5,000 | 500 | 4,000 | -1,000 | |||||||||||||||
Miscelleanous Receipts | 35,000 | 3,050,000 | 1,673,996 | 70,000 | -2,980,000 | |||||||||||||||
De- earmarked Funds - TEF/ CHASE | 5,150,363,484 | 8,548,357,191 | 7,613,167,388 | 8,978,850,050 | 430,492,859 | |||||||||||||||
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TOTAL- MINISTRY OF TOURISM | 5,150,401,484 | 8,551,412,191 | 7,614,841,883 | 8,978,924,050 | 427,511,859 | |||||||||||||||
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MINISTRY OF ECONOMIC GROWTH AND JOB CREATION | ||||||||||||||||||||
Miscelleanous Receipts | 1,501,811 | 970,415 | 205,910 | -970,415 | ||||||||||||||||
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TOTAL- MINISTRY OF ECONOMIC GROWTH AND JOB CREATION | 1,501,811 | 970,415 | 205,910 | — | -970,415 | |||||||||||||||
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NATIONAL LAND AGENCY | ||||||||||||||||||||
Miscellaneous Receipts (50% of Profit) | 289,750,890 | |||||||||||||||||||
Assurance Fund (100% of Gross Receipts) | 62,856,000 | 89,631,000 | — | 54,041,000 | ||||||||||||||||
Rents - Crown Lands and Other Government Properties | 125,924,000 | 178,000,000 | 42,272,356 | 167,621,000 | -10,379,000 | |||||||||||||||
Land Settlement Properties | 31,559,000 | 35,637,000 | 108,823 | 34,781,000 | -856,000 | |||||||||||||||
Rental of Land-Leased properties | — | — | 10,003,963 | — | ||||||||||||||||
Attorney’s Fee/ Photocopying | — | — | — | — | ||||||||||||||||
Miscellaneous Receipts | 274,716,000 | 24,849,000 | — | 306,000 | -24,543,000 | |||||||||||||||
Other Receipts (Including Crown Property Sales) | 216,607,000 | 280,318,000 | — | 123,560,000 | -156,758,000 | |||||||||||||||
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TOTAL NATIONAL LAND AGENCY | 711,662,000 | 608,435,000 | 342,136,031 | 380,309,000 | -192,536,000 | |||||||||||||||
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MINISTRY OF FINANCE AND THE PUBLIC SERVICE | ||||||||||||||||||||
Fees- Banking Licence Registration (1973) - Commercial Banks | 474,320,124 | 461,751,612 | 518,163,683 | 526,379,788 | 64,628,176 | |||||||||||||||
Profits in Government owned companies-Dividends and Financial Distribution | 14,759,380,000 | 16,649,170,000 | 12,001,256,288 | 25,999,402,410 | 9,350,232,410 | |||||||||||||||
Sale of Unserviceable Stores | 33,743,000 | 75,000,000 | — | 75,000,000 | — | |||||||||||||||
BOJ Profits | 1,100,000,000 | — | — | — | — | |||||||||||||||
Sale of Gazettes | 2,288,000 | 2,516,800 | 765,917 | 2,516,800 | — | |||||||||||||||
Fees-Scotia Bank Jamaica Economic Growth Fund | — | — | — | — | ||||||||||||||||
Provident Fund | — | — | — | — | ||||||||||||||||
Fees-FIA Licence Registration | 1,293,365 | 2,774,420 | — | 1,537,255 | -1,237,165 | |||||||||||||||
Fees-Building Societies | 39,903,593 | 47,602,060 | — | 42,032,824 | -5,569,236 | |||||||||||||||
Sale of Forfeited Goods-FID | 28,600,000 | 296,550,000 | 44,098,494 | 296,550,000 | — | |||||||||||||||
Cash Seized and Forfeited | 24,000,000 | 24,000,000 | 8,316,241 | 24,000,000 | — | |||||||||||||||
Miscelleanous Receipts | 28,600,000 | 31,460,000 | 26,584,813 | 20,031,460,000 | 20,000,000,000 | |||||||||||||||
Forfeiture of Loan Agreement (MDB) | 9,176,250 | 20,000,000 | 66,399 | 20,000,000 | — | |||||||||||||||
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TOTAL- MINISTRY OF FINANCE AND THE PUBLIC SERVICE | 16,501,304,332 | 17,610,824,892 | 12,599,251,834 | 47,018,879,077 | 29,408,054,185 | |||||||||||||||
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ACCOUNTANT GENERAL’S DEPARTMENT | ||||||||||||||||||||
Interest on On Lent Loans (PCDF) | 1,192,664,773 | 2,333,000,000 | 388,464,614 | 2,103,144,918 | -229,855,082 | |||||||||||||||
Interest Earned on Local Currency Bank Accounts | 2,781,461 | 2,500,190,754 | 1,697,889,356 | 2,785,479,804 | 285,289,050 | |||||||||||||||
Interest Earned on Foreign Currency Bank Accounts | 322,351,405 | 756,587,565 | 1,789,034,295 | 2,329,064,500 | 1,572,476,935 | |||||||||||||||
Interest Earned on Loans and Advances to Public Officers | 8,375,196 | 2,456,328 | 4,489,703 | 2,480,891 | 24,563 | |||||||||||||||
Interest on Government Deposits (MDA) | 9,874,710 | 658,765 | 342,490 | 665,353 | 6,588 | |||||||||||||||
PDCF Interest -Global Bonds Interest | 5,093,867,435 | 5,144,400,000 | 1,899,372,798 | 3,878,895,633 | -1,265,504,367 | |||||||||||||||
PDCF Interest - Local Investments JUTC Interest | — | — | 1,089,937,418 | — | — | |||||||||||||||
Pension Contributions: 5 % Contribution Scheme | 5,376,502,000 | 5,645,327,100 | 7,835,209,645 | 12,817,343,985 | 7,172,016,885 | |||||||||||||||
Pension Contribution: Members of the Legislature | — | — | — | — |
3
2024/2025 JAMAICA BUDGET
STATEMENT II
DETAILS OF REVENUE AND LOAN RECEIPTS
REVENUE ITEM DESCRIPTION | Estimates 2022/2023 (‘1) | Estimates 2023/2024 (‘2) | Fund Receipts 2023/2024 (as at Dec-23) (‘3) | Estimates 2024/2025 (‘4) | Budget Increase(+) / Decrease (-) [(4)-(2)] | |||||||||||||||
J$ | J$ | J$ | J$ | J$ | ||||||||||||||||
Pension Contributions: Other Government Authorities for Seconded Officers | — | — | — | — | ||||||||||||||||
Recovery of Pension and Salary | 15,862,046 | 43,521,221 | 49,872,876 | 21,760,611 | -21,760,611 | |||||||||||||||
Chancery Fund Commission | 394,992 | 717,932 | — | 725,112 | 7,179 | |||||||||||||||
Sale of Receipt Books | 493,884 | 1,458,392 | 429,750 | 750,000 | -708,392 | |||||||||||||||
Recovery of Prior Years’ Expenditure | 474,062 | 27,205,143 | 15,818,013 | 27,477,195 | 272,051 | |||||||||||||||
Processing Fees- Salary Deduction | 827,945 | 1,415,424 | 426,000 | 1,429,578 | 14,154 | |||||||||||||||
Miscelleanous Receipts | 13,890,378,189 | 8,776,911,840 | 6,485,479,874 | 9,968,986,498 | 1,192,074,658 | |||||||||||||||
Registration of Jamaica Investment Capital Growth Funds | — | — | . | |||||||||||||||||
Fees on Government Guaranteed Loans | — | — | — | |||||||||||||||||
Executive Agency Investment Fund | ||||||||||||||||||||
Management Fees | — | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
TOTAL- ACCOUNTANT GENERAL’S DEPARTMENT | 25,914,848,099 | 25,233,850,464 | 21,256,766,831 | 33,938,204,077 | 8,704,353,612 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
JAMAICA CUSTOMS AGENCY | ||||||||||||||||||||
Warehouse Fees | 6,964,291 | 10,613,070 | 4,352,957 | 11,674,377 | 1,061,307 | |||||||||||||||
Receipts from Sale of Seized Items | 121,097,455 | 177,391,280 | 209,720,446 | 83,373,901 | -94,017,379 | |||||||||||||||
Penalty Payments for Breaches of Customs Act and Regulations | 150,856,348 | 138,615,548 | 131,593,210 | 180,200,213 | 41,584,665 | |||||||||||||||
Net Service Charge for Shipping and Airline Carriers | 784,633,051 | 850,915,664 | -850,915,664 | |||||||||||||||||
Processing 5% PAJ | 140,231,050 | 150,603,465 | 24,385,496 | 155,121,568 | 4,518,103 | |||||||||||||||
Standard and Compliance Fees | 58,020,862 | 69,922,074 | 36,533,441 | 73,418,178 | 3,496,104 | |||||||||||||||
Customs User/ Administration Fee | 1,983,806,624 | 1,505,750,000 | — | -1,505,750,000 | ||||||||||||||||
Irrevocable Standing Orders | 28,500 | 35,000 | 19,500 | 35,000 | — | |||||||||||||||
Miscelleanous Receipts | 507,666 | 476,578 | 185,065,305 | 476,578 | — | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
TOTAL- JAMAICA CUSTOMS AGENCY | 3,246,145,848 | 2,904,322,679 | 591,670,355 | 504,299,815 | -2,400,022,865 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
TAX ADMINISTRATION OF JAMAICA | ||||||||||||||||||||
Penalty for late and non-payment of sundry taxes and licences | 4,150,310 | 3,600,000 | ||||||||||||||||||
Penalty for Breaches Spirit licences | 200,000 | 276,000 | — | 534,600 | 258,600 | |||||||||||||||
Property Tax (2.5%) | 241,700,000 | 263,000,000 | 211,789,695 | 258,127,700 | -4,872,300 | |||||||||||||||
National Health Fund(NHF 2.5%) | — | — | — | — | ||||||||||||||||
Passport Immigration & Citizenship Agency Fee 0.5% | 200,000 | 624,000 | 376,013 | 455,700 | -168,300 | |||||||||||||||
Road Maintenance Fund 2.5% | 56,000,000 | 73,000,000 | 325,242,936 | 67,070,000 | -5,930,000 | |||||||||||||||
Special Consumption Tax 2.5% | — | — | — | — | ||||||||||||||||
Island Traffic Authority 20% | 10,000,000 | 15,100,000 | 12,526,800 | 16,961,000 | 1,861,000 | |||||||||||||||
Police User Fees | 346,000,000 | 497,000,000 | 364,623,950 | 491,045,000 | -5,955,000 | |||||||||||||||
Trade Licence 2.5% | 11,000,000 | 11,000,000 | 12,373,698 | 11,001,000 | 1,000 | |||||||||||||||
Miscellaneous Receipts | 26,000,000 | 40,000,000 | 68,295,433 | 19,049,900 | -20,950,100 | |||||||||||||||
Firearm Licensing Authority User Fees | — | — | ||||||||||||||||||
Net Service Charge for services rendered by Excise Officers | — | — | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
TOTAL-TAX ADMINISTRATION OF JAMAICA | 691,100,000 | 900,000,000 | 999,378,835 | 867,844,900 | -35,755,100 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
MINISTRY OF HOUSING, URBAN RENEWAL, ENVIRONMENT AND CLIMATE CHANGE | ||||||||||||||||||||
Miscelleanous Receipts | 342,267 | — | — | |||||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
TOTAL- MINISTRY OF HOUSING, URBAN RENEWAL, ENVIRONMENT AND CLIMATE CHANGE | 342,267 | — | — | — | — | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
MINISTRY OF NATIONAL SECURITY | ||||||||||||||||||||
Sale of Services- CRDC | 15,000,000 | 15,000,000 | — | 15,012,000 | 12,000 | |||||||||||||||
Miscelleanous Receipts | 4,000,000 | 4,000,000 | 10,207,719 | 4,200,000 | 200,000 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
TOTAL- MINISTRY OF NATIONAL SECURITY | 19,000,000 | 19,000,000 | 10,207,719 | 19,212,000 | 212,000 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
JAMAICA DEFENCE FORCE | ||||||||||||||||||||
Rental of Lettings (Land and Buildings) | ||||||||||||||||||||
Soldier’s Contribution | 1,000,000 | — | 1,000,000 | 1,000,000 | ||||||||||||||||
Soldiers’ Contribution to various services | 3,500,000 | — | 28,000,000 | 28,000,000 | ||||||||||||||||
Miscellaneous Receipts JDF | 15,000,000 | 105,006,443 | 4,200,000 | |||||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
TOTAL-JAMAICA DEFENCE FORCE | 19,500,000 | — | 105,006,443 | 33,200,000 | 29,000,000 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
POLICE DEPARTMENT | ||||||||||||||||||||
Police Certificates | 1,264,512,136 | 5,206,670 | ||||||||||||||||||
Finger Print Search | — | — |
4
2024/2025 JAMAICA BUDGET
STATEMENT II
DETAILS OF REVENUE AND LOAN RECEIPTS
REVENUE ITEM DESCRIPTION | Estimates 2022/2023 (‘1) | Estimates 2023/2024 (‘2) | Fund Receipts 2023/2024 (as at Dec-23) (‘3) | Estimates 2024/2025 (‘4) | Budget Increase(+) / Decrease (-) [(4)-(2)] | |||||||||||||||
J$ | J$ | J$ | J$ | J$ | ||||||||||||||||
Pension Contributions: Constabulary | — | — | — | |||||||||||||||||
Pension Contributions: Special Constables | — | — | ||||||||||||||||||
Accident Report | 34,871,500 | — | — | |||||||||||||||||
Miscellaneous Receipts | 38,805,481 | 41,038,557 | 1,127,010 | 22,400,398 | -18,638,159 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
TOTAL-POLICE DEPARTMENT | 1,338,189,118 | 41,038,557 | 6,333,680 | 22,400,398 | -18,638,159 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
DEPARTMENT OF CORRECTIONAL SERVICES | — | |||||||||||||||||||
Sundry Fines and Contribution | 495,000 | 4,900,000 | 5,206,218 | 1,666,400 | ||||||||||||||||
Miscellaneous Receipt (Confiscated Cash) | 3,233,600 | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
TOTAL - DEPARTMENT OF CORRECTIONAL SERVICES | 495,000 | 4,900,000 | 5,206,218 | 3,233,600 | 1,666,400 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
MINISTRY OF JUSTICE | ||||||||||||||||||||
Traffic Fines | 176,000,000 | 185,000,000 | — | — | -185,000,000 | |||||||||||||||
Other Court Fines | 210,738,327 | 221,500,000 | 233,196,765 | 324,898,000 | 103,398,000 | |||||||||||||||
Sale of Revised Laws of Jamaica to the Private Sector | 424,000 | 445,200 | -445,200 | |||||||||||||||||
Forfeited Recognizances (Funds) | — | — | — | — | ||||||||||||||||
Sale of Marriage Licences | 26,840,000 | 28,182,000 | 1,075,000 | — | -28,182,000 | |||||||||||||||
Miscellaneous Receipts | 441,000 | 463,050 | 15,938,097 | 889,500 | 426,450 | |||||||||||||||
Tender Documents | — | 2,300 | — | |||||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
TOTAL- MINISTRY OF JUSTICE | 414,443,327 | 435,590,250 | 250,212,162 | 325,787,500 | -109,802,750 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
MINISTRY OF FOREIGN AFFAIRS AND FOREIGN TRADE | ||||||||||||||||||||
Visa Fees from Overseas Missions | 9,440,269 | 11,195,612 | 3,711,923 | 11,847,840 | 652,228 | |||||||||||||||
|
| |||||||||||||||||||
Authentication fees | 6,293,512 | 7,463,724 | 15,015,140 | 7,898,540 | 434,816 | |||||||||||||||
|
| |||||||||||||||||||
Rush fees | 1,573,378 | 1,865,936 | — | 1,974,640 | 108,704 | |||||||||||||||
Consul fees | 8,810,917 | 10,449,237 | 4,376,337 | 11,058,020 | 608,783 | |||||||||||||||
Postage fees | 1,258,702 | 1,492,749 | 488,150 | 1,579,740 | 86,991 | |||||||||||||||
Miscellaneous Receipts | 4,090,783 | 4,851,442 | 1,915,828 | 5,134,080 | 282,638 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
TOTAL- MINISTRY OF FOREIGN AFFAIRS AND FOREIGN TRADE | 31,467,561 | 37,318,700 | 25,507,377 | 39,492,860 | 2,174,160 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
MINISTRY OF LABOUR AND SOCIAL SECURITY | ||||||||||||||||||||
Reimbursement - NIS | 837,825,000 | 890,074,000 | 947,353,741 | 1,214,000,000 | 323,926,000 | |||||||||||||||
Fees - Factories Registration Act | 1,000,000 | 2,500,000 | 1,693,530 | 2,640,000 | 140,000 | |||||||||||||||
Fees - Employment Agencies Registration Act | 310,000 | 740,000 | 435,070 | 780,000 | 40,000 | |||||||||||||||
Fees - Recruiting of Workers Act | — | — | — | — | — | |||||||||||||||
Work Permit | 800,000,000 | 1,100,000,000 | 660,317,481 | 1,100,000,000 | — | |||||||||||||||
Miscellaneous Receipts | 865,000 | 1,833,000 | 1,985,076 | 1,925,000 | 92,000 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
TOTAL-MINISTRY OF LABOUR AND SOCIAL SECURITY | 1,640,000,000 | 1,995,147,000 | 1,611,784,898 | 2,319,345,000 | 324,198,000 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
MINISTRY OF EDUCATION, YOUTH AND CULTURE | ||||||||||||||||||||
Fees from Jamaica School Certificate | ||||||||||||||||||||
Examinations | ||||||||||||||||||||
Rental of EDDC and other Buildings | 1,200,000 | 1,200,000 | 102,408 | 1,200,000 | — | |||||||||||||||
Repayment of Bonds by Teachers | 3,600,000 | 3,000,000 | — | 3,000,000 | — | |||||||||||||||
Transcripts | 7,200 | 1,200 | — | 1,200 | — | |||||||||||||||
Recovery of Previous years Expenditure | 23,000,000 | 12,000,000 | 52,147,832 | 10,000,000 | -2,000,000 | |||||||||||||||
Miscellaneous Receipts | 6,000,000 | 9,600,000 | 79,467,579 | 234,000,000 | 224,400,000 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
TOTAL- MINISTRY OF EDUCATION, YOUTH AND CULTURE | 33,807,200 | 25,801,200 | 131,717,818 | 248,201,200 | 222,400,000 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
MINISTRY OF HEALTH | ||||||||||||||||||||
Registration of Pharmacies and Pharmacists | — | |||||||||||||||||||
Registration of Drugs | 8,450,000 | 8,960,000 | 10,681,303 | 8,960,000 | — | |||||||||||||||
Parents Contribution toward Maintenance of Children in Children’s Home | — | — | — | — | ||||||||||||||||
Drug Permits | 4,800,000 | 5,200,000 | 1,532,366 | 5,200,000 | — | |||||||||||||||
Miscellaneous Receipts | 120,000 | 140,000 | 319,750 | 140,000 | — |
5
2024/2025 JAMAICA BUDGET
STATEMENT II
DETAILS OF REVENUE AND LOAN RECEIPTS
REVENUE ITEM DESCRIPTION | Estimates 2022/2023 (‘1) | Estimates 2023/2024 (‘2) | Fund Receipts 2023/2024 (as at Dec-23) (‘3) | Estimates 2024/2025 (‘4) | Budget Increase(+) / Decrease (-) [(4)-(2)] | |||||||||||||||
J$ | J$ | J$ | J$ | J$ | ||||||||||||||||
Advisory Panel on Ethics (Research Proposal) | 240,000 | 396,000 | — | 396,000 | — | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
TOTAL- MINISTRY OF HEALTH | 13,610,000 | 14,696,000 | 12,533,419 | 14,696,000 | — | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
GOVERNMENT CHEMIST | ||||||||||||||||||||
Fees from Laboratory analyses | 1,008,000 | — | 511,100 | 1,016,000 | 1,016,000 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
TOTAL-GOVERNMENT CHEMIST | 1,008,000 | — | 511,100 | 1,016,000 | 1,016,000 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
MINISTRY OF CULTURE, GENDER, ENTERTAINMENT AND SPORTS | ||||||||||||||||||||
Irrevocable Order | 8,000 | — | 46,750 | 4,000 | 4,000 | |||||||||||||||
Miscelleanous Receipts | 50,000 | 759,375 | 200,000 | 200,000 | ||||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
TOTAL-MINISTRY OF CULTURE, GENDER, ENTERTAINMENT AND SPORTS | 58,000 | — | 806,125 | 204,000 | 204,000 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
MINISTRY OF AGRICULTURE FISHERIES AND MINING | ||||||||||||||||||||
Receipts from sundry and other receipts | — | 365,000 | 365,000 | — | ||||||||||||||||
Agricultural Land Management Division | 365,000 | — | 42,400 | — | — | |||||||||||||||
Miscelleanous Receipts | 2,101,000 | 2,101,000 | 2,198,769 | 2,101,000 | — | |||||||||||||||
Application for Export Permits | — | |||||||||||||||||||
Library Publication | — | |||||||||||||||||||
Receipts from issue of Sundry Permits | 860,000 | 860,000 | — | 860,000 | — | |||||||||||||||
Laboratory Analysis - Metallic Minerals | 12,000,000 | 4,000,000 | — | 4,000,000 | — | |||||||||||||||
Miscellaneous Receipts | 9,360,000 | 3,350,000 | 2,448,670 | 3,350,000 | 350,000 | |||||||||||||||
Royalties-Bauxite | 880,208,000 | 450,000,000 | 219,942,527 | 622,000,000 | -100,000,000 | |||||||||||||||
Royalties-Limestone | 22,000,000 | 12,000,000 | 13,703,311 | 12,000,000 | 13,000,000 | |||||||||||||||
Royalties-Marble, Quarry | — | — | — | — | ||||||||||||||||
Blasting Inspections | 820,000 | 820,000 | 1,058,112 | 820,000 | 820,000 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
TOTAL- MINISTRY OF AGRICULTURE FISHERIES AND MINING | 927,714,000 | 473,131,000 | 239,393,788 | 645,496,000 | -85,830,000 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
MINISTRY OF INDUSTRY INVESTMENT AND COMMERCE | ||||||||||||||||||||
Miscelleanous Receipts | 60,000 | 20,000 | 282,660 | 60,000 | 40,000 | |||||||||||||||
Receipts from sundry and Other Receipt | 50,000 | 30,000 | 84,000 | 60,000 | 30,000 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
TOTAL- MINISTRY OF INDUSTRY INVESTMENT AND COMMERCE | 110,000 | 50,000 | 366,660 | 120,000 | 70,000 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
OFFICE OF THE GOVERNMENT TRUSTEE | ||||||||||||||||||||
Commission on Dividend Payment | 1,839,000 | 2,157,000 | 1,854,347 | 1,559,000 | -598,000 | |||||||||||||||
Legal fees and charges against the Bankruptcy | 4,378,500 | 3,443,000 | 1,486,311 | 3,716,000 | 273,000 | |||||||||||||||
Miscelleanous Receipts | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
TOTAL- OFFICE OF THE GOVERNMENT TRUSTEE | 6,217,500 | 5,600,000 | 3,340,658 | 5,275,000 | -325,000 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
OFFICE OF THE SUPERVISOR OF INSOLVENCY | ||||||||||||||||||||
Insolvency Status Verification | 3,801,000 | 3,951,000 | 4,135,000 | 4,377,000 | 426,000 | |||||||||||||||
Trustee Application Fee | 40,000 | 20,000 | 20,000 | 20,000 | — | |||||||||||||||
Trustee Licence Fee | 60,000 | 30,000 | — | 30,000 | — | |||||||||||||||
Trustee License Renewal | 19,000 | 13,000 | — | 13,000 | — | |||||||||||||||
Miscellaneous Receipts | 25,000 | 10,000 | 51,809 | 10,000 | — | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
TOTAL-OFFICE OF THE SUPERVISOR OF INSOLVENCY | 3,945,000 | 4,024,000 | 4,206,809 | 4,450,000 | 426,000 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
TRADE BOARD | ||||||||||||||||||||
Certification Fees | 323,848,704 | — | 5,259,202 | 5,489,800 | 5,489,800 | |||||||||||||||
Dealers Registration / Licensing Fees | — | 5,449,000 | 18,310,000 | — | -5,449,000 | |||||||||||||||
Scrap Metal | 2,266,210 | 2,282,123 | 1,860,338 | 1,877,300 | -404,823 | |||||||||||||||
Car Dealers Registration | 66,240,000 | 66,861,000 | 19,660,000 | 71,261,000 | 4,400,000 | |||||||||||||||
Collateral Letter | 2,898,000 | 2,898,000 | 4,040,000 | 4,453,725 | 1,555,725 | |||||||||||||||
Letter of Transfer | 910,800 | 910,800 | 417,000 | 176,000 | -734,800 | |||||||||||||||
Miscellaneous Receipts | 40,705,020 | 44,363,626 | 33,913,314 | 44,363,626 | — | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
TOTAL- TRADE BOARD | 436,868,734 | 122,764,549 | 83,459,854 | 127,621,451 | 4,856,902 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
6
2024/2025 JAMAICA BUDGET
STATEMENT II
DETAILS OF REVENUE AND LOAN RECEIPTS
REVENUE ITEM DESCRIPTION | Estimates 2022/2023 (‘1) | Estimates 2023/2024 (‘2) | Fund Receipts 2023/2024 (as at Dec-23) (‘3) | Estimates 2024/2025 (‘4) | Budget Increase(+) / Decrease (-) [(4)-(2)] | |||||||||||||||
J$ | J$ | J$ | J$ | J$ | ||||||||||||||||
DEPARTMENT OF COOPERATIVE AND FRIENDLY SOCIETIES | ||||||||||||||||||||
Amendment to Rules Fees | 12,000 | 20,000 | 20,000 | 12,000 | -8,000 | |||||||||||||||
Registration Fees - Cooperative & Friendly Society | 48,000 | 48,000 | 70,500 | 2,448,000 | 2,400,000 | |||||||||||||||
Registration of Special Resolution | 8,000 | — | ||||||||||||||||||
Arbitration | 90,000 | 8,000 | 10,000 | 3,000 | -5,000 | |||||||||||||||
Training | 90,000 | 70,000 | 90,000 | — | ||||||||||||||||
Registration of change in office to include registration of Branch Office with IP Societies | — | |||||||||||||||||||
Annual Fees for IP Societies | 600,000 | 500,000 | 570,000 | 600,000 | 100,000 | |||||||||||||||
Miscellaneous Receipts | 130,000 | 100,000 | 555,400 | 135,000 | 35,000 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
TOTAL- DEPARTMENT OF COOPERATIVE AND FRIENDLY SOCIETIES | 888,000 | 766,000 | 1,295,900 | 3,288,000 | 2,522,000 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
JAMAICA INTELLECTUAL PROPERTY OFFICE | ||||||||||||||||||||
Fees for Registration of Trademark | 82,703,300 | 97,225,300 | 61,512,300 | 127,242,100 | 30,016,800 | |||||||||||||||
Patent fees | 1,205,072 | 600,000 | 376,579 | -600,000 | ||||||||||||||||
Utility Models | 50,000 | — | ||||||||||||||||||
Design Fees | 725,000 | 435,000 | 313,000 | 435,000 | — | |||||||||||||||
Search Fees | 440,000 | 756,000 | 10,572,700 | 840,000 | 84,000 | |||||||||||||||
Trade Mark Journal | — | 15,400 | — | — | ||||||||||||||||
Trade Mark Publication | 5,005,000 | 8,192,000 | 4,879,600 | 8,192,000 | — | |||||||||||||||
Geographical Indication Registration | 30,000 | 30,000 | 10,450 | 30,000 | — | |||||||||||||||
Copyright-GDA Registration | 621,000 | 360,000 | 512,700 | -360,000 | ||||||||||||||||
Madrid Treaty Registration | — | 8,792,000 | 8,792,000 | |||||||||||||||||
Patent Corporation Treaty Registration | 60,000 | — | — | |||||||||||||||||
Miscellaneous receipts | — | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
TOTAL- JAMAICA INTELLECTUAL PROPERTY OFFICE | 90,789,372 | 107,648,300 | 78,192,729 | 145,531,100 | 37,932,800 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
MINISTRY OF SCIENCE ENERGY TELECOMMUNICATION AND TRANSPORT | ||||||||||||||||||||
Fees- Electric Lighting Act | 16,309,000 | 16,309,000 | 186,000 | 18,692,000 | 2,383,000 | |||||||||||||||
Fees -rental of property | 24,461,251 | — | 117,048,000 | |||||||||||||||||
Fees-Petroleum Licencing | 371,000 | 77,500 | 40,153,000 | |||||||||||||||||
Fee Maintenace of Property | 77,886,201 | — | 158,664,000 | |||||||||||||||||
Miscelleanous Receipts | 110,016,000 | 593,600 | 45,209 | 480,000 | -113,600 | |||||||||||||||
MINISTRY OF TRANSPORT (NOW 69000) | ||||||||||||||||||||
Tender Documents | — | — | ||||||||||||||||||
Other Receipts | — | — | ||||||||||||||||||
Miscelleanous Receipts | 188,740 | — | ||||||||||||||||||
Bluefield Guest House | — | — | ||||||||||||||||||
On and Off Trailer Plates | — | — | ||||||||||||||||||
De- earmarked - Civil Aviation Authority | 4,495,931,702 | 6,603,862,000 | 4,932,900,719 | 7,708,875,954 | 1,105,013,954 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
TOTAL-MINISTRY OF SCIENCE ENERGY TELECOMMUNICATION AND TRANSPORT | 4,622,256,702 | 6,723,483,052 | 4,933,398,168 | 8,043,912,954 | 1,107,283,354 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
MINISTRY OF LOCAL GOVERNMENT AND RURAL DEVELOPMENT (FORMERLY MINISTRY OF LOCAL GOVERNMENT AND COMMUNITY DEVELOPMENT) | — | |||||||||||||||||||
Fire Inspection Fees | — | |||||||||||||||||||
Tender Document Fees | — | — | ||||||||||||||||||
Repairs of Fire Hydrants | — | — | ||||||||||||||||||
Permission to Host events | — | — | ||||||||||||||||||
Fines | — | — | ||||||||||||||||||
6% Pension Contribution - Councillors | — | — | ||||||||||||||||||
Miscellaneous Receipts | 69,000 | 69,000 | 88,180 | 69,000 | — | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
TOTAL- MINISTRY OF LOCAL GOVERNMENT AND RURAL DEVELOPMENT | 69,000 | 69,000 | 88,180 | 69,000 | — | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
MISCELLEANOUS RECEIPTS (UNCLASSIFIED) | — | — | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
7
2024/2025 JAMAICA BUDGET
STATEMENT II
DETAILS OF REVENUE AND LOAN RECEIPTS
REVENUE ITEM DESCRIPTION | Estimates 2022/2023 (‘1) | Estimates 2023/2024 (‘2) | Fund Receipts 2023/2024 (as at Dec-23) (‘3) | Estimates 2024/2025 (‘4) | Budget Increase(+) / Decrease (-) [(4)-(2)] | |||||||||||||||
J$ | J$ | J$ | J$ | J$ | ||||||||||||||||
TOTAL NON TAX REVENUE | 65,398,700,000 | 65,228,522,019 | 50,927,074,456 | 103,701,082,853 | 37,424,113,084 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
TOTAL RECURRENT REVENUE | 736,934,798,867 | 889,524,330,457 | 635,997,276,652 | 1,028,077,368,888 | 137,504,590,682 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
CAPITAL REVENUE LAND SALES | ||||||||||||||||||||
Crown Property Sales | — | |||||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
TOTAL-LAND SALES | — | — | — | — | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
LOAN REPAYMENTS | ||||||||||||||||||||
Miscellaneous | 1,477,000,000 | 168,331,257 | 41,305,206,530 | — | -168,331,257 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
TOTAL LOAN REPAYMENTS | 1,477,000,000 | 168,331,257 | 41,305,206,530 | — | -168,331,257 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
EXTRAORDINARY RECEIPTS | — | |||||||||||||||||||
Miscelleanous | 17,800,000,000 | — | ||||||||||||||||||
PCDF Other Inflow | 600,000,000 | 15,826,200,000 | 5,865,973,895 | 14,502,700,000 | -1,323,500,000 | |||||||||||||||
Proceeds from Divestment | 14,114,600,000 | — | — | — | — | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
TOTAL-EXTRAORDINARY RECEIPTS | 32,514,600,000 | 15,826,200,000 | 5,865,973,895 | 14,502,700,000 | -1,323,500,000 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
TOTAL CAPITAL REVENUE | 33,991,600,000 | 15,994,531,257 | 47,171,180,425 | 14,502,700,000 | -1,491,831,257 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
GRANTS TRANSFER FROM CAPITAL DEVELOPMENT FUND | ||||||||||||||||||||
Transfer to Current Account | 4,908,300,000 | 1,283,400,000 | 887,500,000 | -395,900,000 | ||||||||||||||||
Transfers in lieu of Income Tax from Alumina Producers | — | |||||||||||||||||||
Others | — | |||||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
TOTAL- TRANSFER TO CAPITAL ACCOUNT | 4,908,300,000 | 1,283,400,000 | 887,500,000 | -395,900,000 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
EXTERNAL GRANTS | ||||||||||||||||||||
European Union | ||||||||||||||||||||
Miscelleanous Grants | 6,459,981,000 | — | — | — | — | |||||||||||||||
Other Grants | 6,591,107,000 | 15,502,151,476 | 4,629,700,000 | -1,961,407,000 | ||||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
TOTAL EXTERNAL GRANTS | 6,459,981,000 | 6,591,107,000 | 15,502,151,476 | 4,629,700,000 | -1,961,407,000 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
TOTAL GRANTS | 11,368,281,000 | 7,874,507,000 | 15,502,151,476 | 5,517,200,000 | -2,357,307,000 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
EXTERNAL LOANS | ||||||||||||||||||||
Multilateral | ||||||||||||||||||||
Loans to be raised under Act 39 of 1964 | ||||||||||||||||||||
World Bank Loans | — | 53,588,200,000 | 53,588,200,000 | |||||||||||||||||
Inter-American Development Bank | 4,715,400,000 | 652,661,000 | ||||||||||||||||||
USAID | — | — | ||||||||||||||||||
Caribbean Development Bank | — | |||||||||||||||||||
European Union | ||||||||||||||||||||
World Bank/IDB | 3,042,845,000 | — | ||||||||||||||||||
IFID | — | — | ||||||||||||||||||
OECF/USAID | ||||||||||||||||||||
OPEC | — | — | ||||||||||||||||||
OECF | — | — | ||||||||||||||||||
IMF | 60,330,794,766 | 48,472,933,804 | 40,675,900,000 | -19,654,894,766 | ||||||||||||||||
IBRD | 1,292,940,000 | — | ||||||||||||||||||
Other | 27,367,100,000 | 14,506,000 | — | |||||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Total Multilateral Loans | 32,082,500,000 | 60,330,794,766 | 53,475,885,804 | 94,264,100,000 | 33,933,305,234 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Bilateral | ||||||||||||||||||||
Government of China | ||||||||||||||||||||
Government of Germany | ||||||||||||||||||||
JBIC | ||||||||||||||||||||
Kuwait | ||||||||||||||||||||
Saudi | ||||||||||||||||||||
PL480 | ||||||||||||||||||||
Other | ||||||||||||||||||||
Other Loans | ||||||||||||||||||||
Capital Market | ||||||||||||||||||||
Other | 17,066,369,000 | 4,635,160,000 | 8,176,300,000 | -8,890,069,000 | ||||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Total Bilateral Loans | — | 17,066,369,000 | 4,635,160,000 | 8,176,300,000 | -8,890,069,000 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
8
2024/2025 JAMAICA BUDGET
STATEMENT II
DETAILS OF REVENUE AND LOAN RECEIPTS
REVENUE ITEM DESCRIPTION | Estimates 2022/2023 (‘1) | Estimates 2023/2024 (‘2) | Fund Receipts 2023/2024 (as at Dec-23) (‘3) | Estimates 2024/2025 (‘4) | Budget Increase(+) / Decrease (-) [(4)-(2)] | |||||||||||||||
J$ | J$ | J$ | J$ | J$ | ||||||||||||||||
TOTAL-EXTERNAL LOANS | 32,082,500,000 | 77,397,163,766 | 58,111,045,804 | 102,440,400,000 | 25,043,236,234 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
DOMESTIC LOANS | ||||||||||||||||||||
Local Commercial Banking Sector | ||||||||||||||||||||
Benchmark Notes & Treasury Bills | 92,047,600,000 | 62,075,307,000 | 27,124,826,962 | 89,000,000,000 | 26,924,693,000 | |||||||||||||||
Indexed Bonds & US$ Loans | — | — | ||||||||||||||||||
other (surrenderable) | 14,307,816,044 | — | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
TOTAL- DOMESTIC LOANS | 92,047,600,000 | 62,075,307,000 | 41,432,643,006 | 89,000,000,000 | 26,924,693,000 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
TOTAL LOANS | 124,130,100,000 | 139,472,470,766 | 99,543,688,810 | 191,440,400,000 | 51,967,929,234 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
RECURRENT REVENUE | ||||||||||||||||||||
Tax Revenue | 671,536,098,867 | 824,295,808,438 | 585,070,202,196 | 924,376,286,036 | 100,080,477,598 | |||||||||||||||
Non Tax Revenue | 65,398,700,000 | 65,228,522,019 | 50,927,074,456 | 103,701,082,853 | 38,472,560,833 | |||||||||||||||
CAPITAL REVENUE | 33,991,600,000 | 15,994,531,257 | 47,171,180,425 | 14,502,700,000 | -1,491,831,257 | |||||||||||||||
GRANTS | — | |||||||||||||||||||
Transfer from Capital Development | ||||||||||||||||||||
Fund | 4,908,300,000 | 1,283,400,000 | — | 887,500,000 | -395,900,000 | |||||||||||||||
External Grants | 6,459,981,000 | 6,591,107,000 | 15,502,151,476 | 4,629,700,000 | -1,961,407,000 | |||||||||||||||
LOANS | — | |||||||||||||||||||
External Loans | 32,082,500,000 | 77,397,163,766 | 58,111,045,804 | 102,440,400,000 | 25,043,236,234 | |||||||||||||||
Domestic Loans | 92,047,600,000 | 62,075,307,000 | 41,432,643,006 | 89,000,000,000 | 26,924,693,000 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
TOTAL | 906,424,779,867 | 1,052,865,839,480 | 798,214,297,364 | 1,239,537,668,888 | 186,671,829,408 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
9
2024-2025 JAMAICA BUDGET
STATEMENT III
Summary of Revenue Estimates and Estimates of Expenditure for the Year 2024-2025
$‘000
RECURRENT
REVENUE
Estimates, | ||||
2024/2025 | ||||
I RECURRENT REVENUE | ||||
Customs | 66,452,217,066 | |||
Income Tax | 321,713,616,773 | |||
Stamp Duties | 13,141,722,225 | |||
Motor Vehicle Licences(Motor Vehicle Act) | 5,496,329,853 | |||
Other Licences | 361,611,939 | |||
Travel Tax | 34,138,653,119 | |||
Betting, Gaming and Lotteries-Duties, Fees and Levies | 11,306,790,046 | |||
Education Tax | 53,620,847,724 | |||
Contractors Levy | 3,137,826,800 | |||
General Consumption Tax | 300,855,855,465 | |||
Special Consumption Tax | 99,050,067,009 | |||
Environmental Levy | 6,697,555,737 | |||
Telephone Call Tax | 3,199,376,117 | |||
Guest Accomodation Room Tax | 3,979,432,867 | |||
Minimum Business Tax | — | |||
Quarry Tax | 91,592,770 | |||
Import Licences-Trade Board | 551,338,417 | |||
Telecommunication Licences | 581,452,110 | |||
TOTAL TAX REVENUE | 924,376,286,036 | |||
NON-TAX REVENUE | 103,701,082,853 | |||
SUBTOTAL NON TAX REVENUE | 103,701,082,853 | |||
TRANSFERS FROM CAPITAL DEVELOPMENT FUND | 887,500,000 | |||
TOTAL RECURRENT REVENUE | 1,028,964,868,888 | |||
|
|
EXPENDITURE
Estimates, | ||||
2024/2025 | ||||
RECURRENT EXPENDITURE | ||||
His Excellency the Governor-General and Staff | 537,160,000 | |||
Houses of Parliament | 2,500,536,000 | |||
Office of the Public Defender | 394,357,000 | |||
Auditor General | 1,367,352,000 | |||
Office of the Services Commissions | 518,977,000 | |||
Office of the Children’s Advocate | 386,655,000 | |||
Independent Commission of Investigations | 913,299,000 | |||
Integrity Commission | 1,851,371,000 | |||
Independent Fiscal Commission | 273,482,000 | |||
Office of the Prime Minister | 19,273,727,000 | |||
Office of the Cabinet | 993,726,000 | |||
Ministry of Tourism | 13,928,060,000 | |||
Ministry of Economic Growth and Job Creation | 24,842,568,000 | |||
Ministry of Finance and Public Service | 673,589,169,000 | |||
Ministry of National Security | 139,068,917,000 | |||
Ministry of Legal and Constitutional Affairs | 1,367,378,000 | |||
Ministry of Justice | 16,814,125,000 | |||
Ministry of Foreign Affairs and Foreign Trade | 6,751,435,000 | |||
Ministry of Labour and Social Security | 20,015,027,000 | |||
Ministry of Education and Youth | 165,081,129,000 | |||
Ministry of Health and Wellness | 137,021,878,000 | |||
Ministry of Culture, Gender, Entertainment and Sport | 6,205,640,000 | |||
Ministry of Agriculture, Fisheries and Mining | 15,681,289,000 | |||
Ministry of Industry, Investment and Commerce | 7,861,192,000 | |||
Ministry Science, Energy, Telecommunications and Transport | 24,525,711,000 | |||
Ministry of Local Government and Community Development | 24,293,384,000 | |||
GROSS TOTAL | 1,306,057,544,000 | |||
Less Appropriations-In-Aid | 44,992,720,000 | |||
TOTAL RECURRENT EXPENDITURE | 1,261,064,824,000 | |||
|
|
10
2024-2025 JAMAICA BUDGET
STATEMENT III
Summary of Revenue Estimates and Estimates of Expenditure for the Year 2024-2025
$‘000
CAPITAL
REVENUE
Estimates, | ||||
2024/2025 | ||||
CAPITAL REVENUE | ||||
Land Sales | — | |||
Loan Repayments | — | |||
Extraordinary Receipts: Miscelleanous | 14,502,700,000 | |||
Subt Total Capital Revenue | 14,502,700,000 | |||
External Loans | ||||
(A) Multilateral | ||||
World Bank Loans | 53,588,200,000 | |||
Inter-American Development Bank | — | |||
USAID | — | |||
Caribbean Development Bank | — | |||
European Union | — | |||
World Bank/IDB | — | |||
IFID | — | |||
OECF/USAID | — | |||
OPEC | — | |||
OECF | — | |||
IMF | 40,675,900,000 | |||
IBRD | — | |||
Other | — | |||
Total Multilateral | 94,264,100,000 | |||
(B) Bilateral | ||||
Government of China | — | |||
Government of Germany | — | |||
JBIC | — | |||
Kuwait | — | |||
Saudi | — | |||
PL480 | — | |||
Other | 8,176,300,000 | |||
Total Bilateral | 8,176,300,000 | |||
(C) Capital Market | ||||
Total External Loans | 102,440,400,000 | |||
Domestic Loans | ||||
(D) Benchmark Notes & Treasury Bills | 89,000,000,000 | |||
(E) Other | ||||
Total Domestic Loan | 89,000,000,000 | |||
Total External and Domestic Loans | 191,440,400,000 | |||
|
|
EXPENDITURE
Estimates, | ||||
2024/2025 | ||||
CAPITAL EXPENDITURE | ||||
Office of the Prime Minister | 5,481,262,000 | |||
Ministry of Economic Growth and Job Creation | 20,868,547,000 | |||
Ministry of Finance and Public Service | 26,360,452,000 | |||
Ministry of National Security | 3,616,422,000 | |||
Ministry of Justice | 234,365,000 | |||
Ministry of Labour and Social Security | 62,239,000 | |||
Ministry of Education and Youth | 1,947,645,000 | |||
Ministry of Health and Wellness | 11,532,491,000 | |||
Ministry of Agriculture, Fisheries and Mining | 3,927,059,000 | |||
Ministry of Industry, Investment and Commerce | 359,269,000 | |||
Ministry Science, Energy, Telecommunications and Transport | 3,347,950,000 | |||
Ministry of Local Government and Community Development | 2,262,299,000 | |||
GROSS TOTAL | 80,000,000,000 | |||
Less Appropriations-In-Aid | ||||
TOTAL CAPITAL EXPENDITURE | 80,000,000,000 | |||
|
|
11
2024-2025 JAMAICA BUDGET
STATEMENT III
Summary of Revenue Estimates and Estimates of Expenditure for the Year 2024-2025
$‘000
SUMMARY
REVENUE
Tax and Non Tax Revenue | 1,028,077,368,888 | |||
Capital Revenue | 14,502,700,000 | |||
Transfer from Capital Development Fund | 887,500,000 | |||
Loan Funds ( Raised and to be Raised) | 191,440,400,000 | |||
Grants | 4,629,700,000 | |||
TOTAL RECEIPTS | 1,239,537,668,888 |
EXPENDITURE
Recurrent Estimates | 1,261,064,824,000 | |||
Capital Estimates | 80,000,000,000 | |||
TOTAL EXPENDITURE | 1,341,064,824,000 |
12
2024-2025 JAMAICA BUDGET
STATEMENT IV
Statement of the Financing of the Estimates of Expenditure for the Year 2024-2025
Recurrent Revenue
Taxation Revenue | 924,376,286,035.88 | |||
Non-Tax Revenue | 103,701,082,852.52 | |||
Transfer from the Capital Development Fund | 887,500,000.00 | |||
TOTAL | 1,028,964,868,888.40 | |||
|
| |||
Current Account Surplus | ||||
Capital Revenue | 14,502,700,000.00 | |||
Grants | 4,629,700,000.00 | |||
Loan Funds | ||||
(A) External Loans | ||||
(i) Multilateral | 94,264,100,000.00 | |||
(ii) Bilateral | 8,176,300,000.00 | |||
(iii) Other | ||||
Total External Loans | 102,440,400,000.00 | |||
(B) Domestic Loans | 89,000,000,000.00 | |||
TOTAL LOAN FUNDS | 191,440,400,000.00 | |||
(C) Utilization of (Prior Year ) Cash Balances | 101,527,155,111.60 | |||
TOTAL | 1,341,064,824,000.00 | |||
|
|
Recurrent Expenditure
Consolidated Fund Charges | 523,799,582,000 | |||
Voted Expenditure | 737,265,242,000 | |||
Current Account Surplus | ||||
TOTAL | 1,261,064,824,000 | |||
|
| |||
CAPITAL EXPENDITURE |
| |||
Consolidated Fund Charges | ||||
Voted Expenditure | 80,000,000,000 | |||
Deficit / Surplus | ||||
TOTAL | 1,341,064,824,000 | |||
|
|
13
2024-2025 JAMAICA BUDGET
STATEMENT V
STATEMENT OF STATUTORY EXPENDITURE CHARGED
TO THE CONSOLIDATED FUND
Head No. | Head of Estimates | Particulars of Service | Amount | Statutory Authority | ||||||
01000 | His Excellency the Governor-General and Staff | Emoluments of the Governor-General and his personal staff as well as general expenditure affiliated to the office of the Governor-General | 383,188,000.0 | Section 12 of the Governor-General (Expenditure, Personal Staff, Tax Exemptions and Pensions) Act. | ||||||
02000 | Houses of Parliament | Salaries and Allowances of the Clerk and Deputy Clerk of the Senate and the House of Representatives. | 26,673,000.0 | Section 47 (8) of the Constitution of Jamaica. | ||||||
03000 | Office of the Public Defender | Salary and Allowances of the Public Defender. | 27,251,000.0 | Section 9 of the Public Defender Interim Act 33/1999 | ||||||
05000 | Auditor General | Salary of the Auditor General | 23,513,000.0 | Section 120–122 of the Constitution of Jamaica; Section 25–36 of the Financial Administration and Audit Act. | ||||||
06000 | Office of the Services Commissions | Salaries and Allowances of the Chairman and members of the Public Service Commissions. | 18,623,000.0 | Section 124 (8) of the Constitution of Jamaica. | ||||||
07000 | Office of the Children’s Advocate | Salary of the Children’s Advocate | 27,483,000.0 | The Child Care and Protection Act, First Schedule | ||||||
08000 | Independent Commission of Investigations | Salary of the Commissioner | 28,165,000.0 | The Independent Commission of Investigations Act, First Schedule | ||||||
09000 | Integrity Commission | Salaries and Allowances for the Commissioners of the Integrity Commission | 38,600,000.0 | Section 22 of the Integrity Commission Act | ||||||
10000 | Independent Fiscal Commission | Salary of the Commissioner | 15,792,000.0 | Section 8 of the Independent Fiscal Commission Act | ||||||
20017 | Public Debt Servicing (Amortisation) | Payment for the amortisation of loans raised by the Government of Jamaica. | 317,339,634,000.0 | Section 119 of the Constitution of Jamaica | ||||||
20018 | Public Debt Servicing (Interest Payments) | Payment of interest, service charges and commitment fees in respect of the public debt of Jamaica. | 173,828,719,000.0 | Section 119 of the Constitution of Jamaica. | ||||||
20019 | Pensions | Public Officers Pensions, Gratuities and Monthly Allowances granted in pursuance of the provisions of the Pensions Act. | 9,706,958,000.0 | Section 4 of the Pensions Act. | ||||||
Jamaica Defence Force Pension | 3,191,440,000.0 | Defence (Retired, Pay Pensions and other Grants) Regulation, 1962 | ||||||||
Payment of Pensions and Gratuities to Teachers in accordance with the Pensions Act | 10,806,730,000.0 | The Pensions (Teachers) Act. | ||||||||
Payment of Pensions, Gratuities or other allowances to Sub-Officers and Constables of the Police Force in accordance with the Constabulary Force Act | 4,688,482,000.0 | Constabulary Force Act. | ||||||||
Payment of retiring allowances, Widows’ allowances or gratuity to legislators in accordance with the provisions of the Retiring Allowance (Legislative Service) Act, and/or The Pensions (Prime Minister) Act. | 285,000,000.0 | Section 12 of the Retiring Allowances (Legislative Service) Act and Section 7 of the Pensions (Prime Minister) Act. |
14
2024-2025 JAMAICA BUDGET
STATEMENT V
STATEMENT OF STATUTORY EXPENDITURE CHARGED
TO THE CONSOLIDATED FUND
Head No. | Head of Estimates | Particulars of Service | Amount | Statutory Authority | ||||||
Refund of Family Benefits Contributions in accordance with the Provisions of the Pensions (Civil Service Family Benefits) Act. | 761,447,000.0 | Section 10 of the Pensions (Civil Service Family Benefits) Act. | ||||||||
Payment of Pensions in accordance with the Provisions of the Pensions (Civil Service Family Benefits) Act. | 27,132,000.0 | Pensions (Civil Service Family Benefits) Act. | ||||||||
Payment of Pensions to retired Parish Councillors and/or their widows in accordance with the provisions of the Retiring Allowances (Parish Councillors) Act | 289,569,000.0 | Parish Councillors Act 2005 | ||||||||
Payment of Pensions to the retired members of the Electoral Commission and their widows | 65,180,000.0 | The Pensions Act | ||||||||
Payment of Pensions to the retired Ombudsmen and their widows. | 11,000,000.0 | The Ombudsman Act | ||||||||
Governor-General’s Pension | 40,749,000.0 | Governor General Act | ||||||||
Payment of Pensions to the retired Contractor General and his widow in accordance with the Contractor General Act. | 15,500,000.0 | The Contractor General Act | ||||||||
Jamaica Agricultural Society Pensions | 4,046,000.0 | Provident Fund Act | ||||||||
Payment of Pensions to the former employees, Jamaica Railway Corporation. | 250,391,000.0 | Jamaica Railway Corporation (Pensions) Regulations | ||||||||
Total Pensions | 30,143,624,000.0 | |||||||||
|
| |||||||||
28025 | Director of Public Prosecutions | Payment of Salary to the Director of Public Prosecutions | 21,070,000.0 | Section 95 (2) of the Constitution of Jamaica | ||||||
28058 | Judiciary | Payment of Salaries to the Judges of the Court of Appeal and the Supreme Court | 1,877,247,000.0 | Section 107 (1) of the Constitution of Jamaica | ||||||
Total | 523,799,582,000.0 | |||||||||
|
|
15
Government of Jamaica
Financial Statements of the Consolidated Fund
Year ended March 31, 2024
For Presentation to the Houses of Parliament
16
GOVERNMENT OF JAMAICA
FINANCIAL STATEMENTS OF THE CONSOLIDATED FUND
Year Ended March 31, 2024
Table of Contents
FOREWORD | 18 | |||
STATEMENT OF RESPONSIBILITY | 18 | |||
BASIS OF PREPARATION | 18 | |||
STATEMENT OF COMPLIANCE | 18 | |||
ACCOUNTING CONVENTION | 19 | |||
REPORTING AND BUDGET PERIOD | 19 | |||
REPORTING CURRENCY | 19 | |||
SIGNIFICANT ACCOUNTING POLICIES | 19 | |||
FOREIGN CURRENCY | 19 | |||
PERFORMANCE ANALYSIS | 20 | |||
Figure 1 – GOJ Consolidated Fund Receipts by Tax Types as at March 31, 2024 | 22 | |||
Figure 2 – GOJ Consolidated Fund Receipts Year on Year Comparative Report | 23 | |||
Figure 3 – Capital Issues from the Consolidated Fund Year Ended March 31, 2024 | 24 | |||
Figure 4 – Recurrent Issues from the Consolidated Fund Year Ended March 31, 2024 | 25 | |||
Statement I - Receipts and Payments of the Consolidated Fund | 26 | |||
Statement II - Statement of Financing | 28 | |||
Statement III – Statement of Receipts of the Consolidated Fund Compared with Estimates | 29 | |||
Statement IV - Statement of Expenditure of the Consolidated Fund Compared with Estimates | 31 | |||
Statement V - Statement of Consolidated Fund Balances | 33 | |||
Statement VI - Statement of Cash Flows | 34 | |||
Statement VII - Statement of Transfers from the Capital Development Fund | 35 | |||
Statement VIII - Contingencies Fund | 36 | |||
Statement IX –Local (Internal) and Foreign (External) Debt | 37 | |||
Notes to the Financial Statements | 39 |
17
FOREWORD
Section 114 of the Jamaica Constitution gives the authority for the establishment of a Consolidated Fund into which shall be paid all revenues of Jamaica. Section 15 (2) of the Financial Administration and Audit (FAA) Act indicates that the Accountant General shall be the custodian of the Consolidated Fund.
The Consolidated Fund Principal Bank Account
This is the primary account to which government revenue is deposited and from which expenditure is withdrawn. Withdrawals from this account are made on the authority of a Warrant against the approved budget and all withdrawals must be authenticated by the Auditor General. The Consolidated Fund Principal Bank Account is domiciled at the Bank of Jamaica (BOJ) and is denominated in both Jamaican and United States Dollars.
The Accountant General’s Department has the responsibility for the management of Government’s cash resources through the Central Treasury Management System (CTMS). The CTMS is a set of processes and procedures, supported by automation which enables the efficient management of the cash functions and resources of Government.
STATEMENT OF RESPONSIBILITY
Under Section 15 (4) of the Financial Administration and Audit (FAA) Act, the Accountant General is responsible for submitting to the Minister, the statements of account on the financial position of the Consolidated Fund as prescribed in Section 24G of the Act.
The Financial Statements of the Consolidated Fund of Jamaica for the year ended March 31, 2024, have been prepared by the Accountant General and have been submitted to the Minister for tabling.
BASIS OF PREPARATION
The Financial Statements have been prepared by consolidating the records of all receipts and payments through the Consolidated Fund in accordance with the approved budget for the year ended March 31, 2024.
STATEMENT OF COMPLIANCE
The Financial Statements have been prepared in accordance with the Financial Administration and Audit (FAA) Act and relevant Regulations.
18
ACCOUNTING CONVENTION
These Financial Statements have been prepared in accordance with the Government of Jamaica’s (GOJ’s) cash basis of accounting which recognizes transactions and events only when cash is received or paid by the Accountant General’s Department. The Department continues to take active steps for the adoption of Cash Basis International Public Sector Accounting Standards (IPSAS) for the Financial Statements of the Consolidated Fund.
REPORTING AND BUDGET PERIOD
The reporting and budget period of these Financial Statements is the financial year ended March 31, 2024, with comparative data for the year ended March 31, 2023.
REPORTING CURRENCY
The functional and reporting currency of these Financial Statements is Jamaican dollar (J$).
SIGNIFICANT ACCOUNTING POLICIES
Revenue Recognition
Revenue, which includes Government to Government transfers, is recognized at the time the money is received in the Consolidated Fund. Revenue is recognized on a gross basis and any transaction costs are separately recorded. All receipts are recorded when received, regardless of the period to which the transaction relates.
Expenditure Recognition
Expenditure is recognized as Warrant issues, these represent monies transferred from the Consolidated Fund.
FOREIGN CURRENCY
Foreign currency transactions are recorded at the prevailing rates of exchange at the date of the transaction, as advised by the BOJ. Cash balances of the Consolidated Fund Accounts held in foreign currency are reported using the BOJ weighted average rate at the reporting date.
19
PERFORMANCE ANALYSIS
Actual Issues of Revenue and Expenditure of the Consolidated Fund compared with Revenue and Expenditure Estimates
Revised Estimates 2024 J$’000 | Actual 2024 J$’000 | Actual vs. Budget 2024 % | Revised Estimates 2023 J$’000 | Actual 2023 J$’000 | Actual vs. Budget 2023 % | |||||||||||||||||||
Receipts | 1,176,242,291 | 1,157,068,972 | -2 | % | 974,675,515 | 959,195,948 | -2 | % | ||||||||||||||||
Taxation | 856,372,354 | 827,304,708 | -4 | % | 771,481,782 | 746,357,850 | 3 | % | ||||||||||||||||
Non-Taxation | 82,395,097 | 83,780,778 | 2 | % | 67,172,025 | 67,252,863 | 0.12 | % | ||||||||||||||||
Capital Transfer | 1,342,431 | 0 | -100 | % | 1,211,851 | 0 | -100 | % | ||||||||||||||||
Domestic Loans | 62,075,307 | 57,985,894 | -7.1 | % | 99,185,000 | 96,516,391 | -2.8 | % | ||||||||||||||||
Capital | 29,680,243 | 32,166,303 | 7.7 | % | 11,121,157 | 11,110,171 | -0.10 | % | ||||||||||||||||
External Loans | 144,376,859 | 140,202,370 | -3 | % | 24,503,700 | 26,706,674 | 8 | % | ||||||||||||||||
Other | 0 | 15,628,919 | 100 | % | 0 | 11,251,999 | 100 | % | ||||||||||||||||
Payments | 1,091,838,076 | 1,082,993,404 | -0.81 | % | 1,002,555,425 | 991,636,838 | -1.09 | % | ||||||||||||||||
Statutory Recurrent | 343,084,242 | 342,268,706 | -0.24 | % | 342,761,519 | 342,088,156 | -0.20 | % | ||||||||||||||||
Recurrent | 689,726,521 | 684,500,774 | -0.76 | % | 601,762,698 | 595,454,117 | -1.06 | % | ||||||||||||||||
Capital | 59,027,313 | 56,223,924 | -5 | % | 58,031,208 | 54,094,565 | -7.30 | % |
Receipts
Actual receipts underperformed Estimates by -2%. Taxation remains the largest contributor to total revenue and accounted for 72% of total receipts, followed by non-tax receipts and external loans which accounted for 7% and 12%, respectively.
Payments
The largest category of payment was recurrent expenditure which accounted for 63% of actual Warrant issued from the Consolidated Fund followed by statutory recurrent expenditure with 32%.
Actual payment issued was $1.083 billion compared with the Estimates of $1.092 billion.
20
Comparative Performance
Receipts
Receipts lodged to the Consolidated Fund increased by $197 billion (21%) when compared with the 2022/23 financial year. This was mainly due to increased cash inflows during the reporting period.
Payments
There was an increase in the issues made from the Consolidated Fund by $91 million (9%) in comparison with the 2022/23 financial year.
21
Graphical Presentations of Receipts and Payments of the Consolidated Fund
Figure 1 – GOJ Consolidated Fund Receipts by Tax Types as at March 31, 2024
22
Figure 2 – GOJ Consolidated Fund Receipts Year on Year Comparative Report
23
Figure 3 – Capital Issues from the Consolidated Fund year ended March 31, 2024
24
Figure 4 – Recurrent Issues from the Consolidated Fund year ended March 31, 2024
25
GOVERNMENT OF JAMAICA
FINANCIAL STATEMENTS OF THE CONSOLIDATED FUND
Statement I - Receipts and Payments of the Consolidated Fund
Year Ended March 31, 2024
(Expressed in Jamaican dollars unless otherwise specified)
Notes | 2024 J$’000 | 2023 J$’000 | ||||||||||
RECEIPTS | ||||||||||||
RECURRENT REVENUE | ||||||||||||
Taxation Revenue | 827,304,708 | 746,357,850 | ||||||||||
Non-Tax Revenue | 83,780,778 | 67,252,863 | ||||||||||
|
|
|
| |||||||||
911,085,486 | 813,610,713 | |||||||||||
CAPITAL REVENUE | ||||||||||||
Loans | 2,452,250 | 2,199,461 | ||||||||||
Extraordinary Receipts (incl. Grants) | 8,137,501 | 5,570,287 | ||||||||||
Other Grants: Petrocaribe Development Fund | 21,576,552 | 3,186,077 | ||||||||||
Other Grants | 0 | 154,346 | ||||||||||
|
|
|
| |||||||||
32,166,303 | 11,110,171 | |||||||||||
DOMESTIC LOANS | ||||||||||||
Benchmark Notes | 36,276,333 | 75,761,411 | ||||||||||
EXTERNAL LOANS | ||||||||||||
Multilateral | 135,567,210 | 8,036,551 | ||||||||||
Bilateral | 4,635,160 | 18,670,123 | ||||||||||
|
|
|
| |||||||||
140,202,370 | 26,706,674 | |||||||||||
OTHER RECEIPTS | ||||||||||||
Unrealized Foreign Exchange Gains | 967,411 | (398,856 | ) | |||||||||
Treasury Bill Issued | 21,709,561 | 20,754,980 | ||||||||||
Surrender Balance | 15,628,919 | 11,251,999 | ||||||||||
Other | 12,918 | 48,417 | ||||||||||
Cash Balance as at April 1 | 1.1 | 50,567,421 | 83,408,924 | |||||||||
|
|
|
| |||||||||
88,886,230 | 115,065,464 | |||||||||||
|
|
|
| |||||||||
Total | 1,208,616,722 | 1,042,254,433 | ||||||||||
|
|
|
|
26
Statement I – Receipts and Payments of the Consolidated Fund (Cont’d)
Notes | 2024 J$’000 | 2023 J$’000 | ||||||||||
RECURRENT EXPENDITURE | ||||||||||||
Statutory Expenditure | 342,268,706 | 342,088,156 | ||||||||||
Voted Expenditure | 684,500,774 | 595,454,117 | ||||||||||
|
|
|
| |||||||||
1,026,769,480 | 937,542,273 | |||||||||||
CAPITAL EXPENDITURE | ||||||||||||
Voted Expenditure | 56,223,924 | 54,094,565 | ||||||||||
|
|
|
| |||||||||
56,223,924 | 54,094,565 | |||||||||||
OTHER PAYMENTS | ||||||||||||
Other Payments | 13,050 | 48,306 | ||||||||||
Refund from Consolidated Fund/Central Payment Account | 1.3 | 13 | 1,868 | |||||||||
Cash Balance as at March 31 | 1.2 | 125,610,255 | 50,567,421 | |||||||||
|
|
|
| |||||||||
125,623,318 | 50,617,595 | |||||||||||
|
|
|
| |||||||||
Total | 1,208,616,722 | 1,042,254,433 | ||||||||||
|
|
|
|
Anya Jones, FCCA
Accountant General
27
GOVERNMENT OF JAMAICA
FINANCIAL STATEMENTS OF THE CONSOLIDATED FUND
Statement II - Statement of Financing
Year Ended March 31, 2024
(Expressed in Jamaican dollars unless otherwise specified)
Notes | 2024 $’000 | 2023 $’000 | ||||||||||
RECURRENT ACCOUNT | ||||||||||||
Recurrent Revenue | 911,085,486 | 813,610,713 | ||||||||||
Recurrent Expenditure | (1,026,769,480 | ) | (937,542,273 | ) | ||||||||
|
|
|
| |||||||||
(115,683,994 | ) | (123,931,560 | ) | |||||||||
Miscellaneous Charges | (13,050 | ) | (8,071 | ) | ||||||||
Balances Surrendered | 15,628,919 | 11,251,999 | ||||||||||
|
|
|
| |||||||||
(Deficit)/Surplus | (100,068,125 | ) | (112,687,632 | ) | ||||||||
|
|
|
| |||||||||
CAPITAL ACCOUNT | ||||||||||||
Capital Revenue | 32,166,303 | 11,110,171 | ||||||||||
Capital Expenditure | (56,223,924 | ) | (54,094,565 | ) | ||||||||
|
|
|
| |||||||||
Deficit | (24,057,621 | ) | (42,984,394 | ) | ||||||||
|
|
|
| |||||||||
Net (Deficit) | (124,125,746 | ) | (155,672,026 | ) | ||||||||
Net Treasury Bills Issued | 21,709,561 | 20,754,980 | ||||||||||
|
|
|
| |||||||||
Financing Requirement | (102,416,185 | ) | (134,917,046 | ) | ||||||||
Financing | ||||||||||||
Domestic Notes | 36,276,333 | 75,761,411 | ||||||||||
External Borrowing | 140,202,370 | 26,706,674 | ||||||||||
|
|
|
| |||||||||
176,478,703 | 102,468,085 | |||||||||||
|
|
|
| |||||||||
Net Surplus/(Deficit) | 2.1 | 74,062,518 | (32,448,961 | ) | ||||||||
Financed From: | ||||||||||||
Opening Cash Balance at April 1 | 1.1 | 50,567,421 | 83,408,924 | |||||||||
Refund from Consolidated Fund/Central | ||||||||||||
Payment Account | 1.3 | (13 | ) | (42,103 | ) | |||||||
Other | 12,918 | 48,417 | ||||||||||
Unrealized Foreign Exchange Gains | 967,411 | (398,856 | ) | |||||||||
|
|
|
| |||||||||
Closing Cash Balance at March 31 | 1.2 | 125,610,255 | 50,567,421 | |||||||||
|
|
|
|
28
GOVERNMENT OF JAMAICA
FINANCIAL STATEMENTS OF THE CONSOLIDATED FUND
Statement III – Statement of Receipts of the Consolidated Fund Compared with Estimates
Year Ended March 31, 2024
(Expressed in Jamaican dollars unless otherwise specified)
Notes | Revised $’000 | Receipt 2024 $’000 | Revised $’000 | Receipt 2023 $’000 | ||||||||||||||||
Tax Revenue: | ||||||||||||||||||||
Customs | 63,811,079 | 62,686,237 | 62,866,353 | 60,650,103 | ||||||||||||||||
Income Tax | 289,841,031 | 274,126,158 | 229,908,837 | 244,884,739 | ||||||||||||||||
Stamp Duties | 12,189,167 | 10,937,186 | 12,002,796 | 11,810,043 | ||||||||||||||||
Motor Vehicle Licences | 5,399,145 | 5,220,807 | 5,708,570 | 5,364,076 | ||||||||||||||||
Other Licences | 2,575,138 | 233,174 | 3,268,800 | 708,799 | ||||||||||||||||
Travel Tax | 30,755,544 | 28,838,773 | 25,872,237 | 25,134,914 | ||||||||||||||||
Betting, Gaming and Lotteries | 9,271,131 | 8,424,550 | 8,556,256 | 11,391,577 | ||||||||||||||||
Education Tax | 48,662,392 | 47,878,060 | 43,467,683 | 40,338,126 | ||||||||||||||||
Contractors Levy | 2,876,556 | 2,784,169 | 2,773,320 | 14,176,756 | ||||||||||||||||
General Consumption Tax | 280,607,560 | 281,015,164 | 264,005,201 | 220,191,936 | ||||||||||||||||
Special Consumption Tax | 97,076,509 | 91,329,503 | 100,019,036 | 94,793,535 | ||||||||||||||||
Environmental Levy | 6,388,667 | 6,288,238 | 6,425,036 | 6,692,610 | ||||||||||||||||
Telephone Call Tax | 3,142,806 | 2,891,806 | 3,197,756 | 3,200,484 | ||||||||||||||||
Guest Accommodation Room Tax | 3,630,055 | 3,448,586 | 3,206,608 | 3,057,723 | ||||||||||||||||
Minimum Business Tax | 55,601 | 98,537 | 97,346 | 130,382 | ||||||||||||||||
Quarry Tax | 89,973 | 37,145 | 105,947 | 110,066 | ||||||||||||||||
Import Licences-Trade Board | 0 | 347,268 | 0 | 341,463 | ||||||||||||||||
Telecommunication Licences | 0 | 711,220 | 0 | 3,370,816 | ||||||||||||||||
Hotel Licence Duty | 0 | 8,127 | 0 | 9,702 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
Total Tax Revenue | 3.1 | 856,372,354 | 827,304,708 | 771,481,782 | 746,357,850 | |||||||||||||||
Non-Tax Revenue | 3.2 | 82,395,097 | 83,780,778 | 67,172,025 | 67,252,863 | |||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
TOTAL RECURRENT REVENUE | 938,767,451 | 911,085,486 | 838,653,807 | 813,610,713 | ||||||||||||||||
|
|
|
|
|
|
|
|
29
Statement III – Statement of Receipts of the Consolidated Fund Compared with Estimates (Cont’d)
Notes | Revised 2024 $’000 | Receipt 2024 $’000 | Revised $’000 | Receipt 2023 $’000 | ||||||||||||||||
Capital Revenue | ||||||||||||||||||||
Loan Repayments | 0 | 2,452,250 | 190,258 | 2,199,461 | ||||||||||||||||
Grants | 7,556,431 | 8,137,501 | 6,796,599 | 5,570,287 | ||||||||||||||||
Other Grants-Petrocaribe Development Fund | 22,123,812 | 21,576,552 | 4,134,300 | 3,340,423 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
Total Capital Revenue | 3.3 | 29,680,243 | 32,166,303 | 11,121,157 | 11,110,171 | |||||||||||||||
Capital Transfers | 1,342,431 | 0 | 1,211,851 | 0 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
Total Capital and Recurrent Revenue | 969,790,125 | 943,251,789 | 850,986,815 | 824,720,884 | ||||||||||||||||
LOAN RECEIPTS | ||||||||||||||||||||
External Loans: | ||||||||||||||||||||
Multilateral | 144,376,859 | 135,567,210 | 24,503,700 | 8,036,551 | ||||||||||||||||
Bilateral | 0 | 4,635,160 | 0 | 18,670,123 | ||||||||||||||||
Total External Loan Receipts | 3.4 | 144,376,859 | 140,202,370 | 24,503,700 | 26,706,674 | |||||||||||||||
Domestic Loans: | ||||||||||||||||||||
Local Commercial Banking Sector: | ||||||||||||||||||||
Benchmark Notes | 62,075,307 | 36,276,333 | 99,185,000 | 75,761,411 | ||||||||||||||||
Treasury Bills | 0 | 21,709,561 | 0 | 20,754,980 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
Total Domestic Loans | 3.5 | 62,075,307 | 57,985,894 | 99,185,000 | 96,516,391 | |||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
Total Loan Receipts | 206,452,166 | 198,188,264 | 123,688,700 | 123,223,065 | ||||||||||||||||
Surrendered Balances | 3.6 | 0 | 15,628,919 | 0 | 11,251,999 | |||||||||||||||
TOTAL REVENUE | 1,176,242,291 | 1,157,068,972 | 974,675,515 | 959,195,948 | ||||||||||||||||
|
|
|
|
|
|
|
|
30
GOVERNMENT OF JAMAICA
FINANCIAL STATEMENTS OF THE CONSOLIDATED FUND
Statement IV - Statement of Expenditure Compared with Issues from the Consolidated Fund
Year Ended March 31, 2024
(Expressed in Jamaican dollars unless otherwise specified)
Notes | Revised $’000 | Issues* 2024 $’000 | Revised $’000 | Issues* 2023 $’000 | ||||||||||||||||
RECURRENT EXPENDITURE | ||||||||||||||||||||
Statutory Recurrent Expenditure | ||||||||||||||||||||
Public Debt Charges | 172,727,667 | 172,727,667 | 151,194,816 | 151,194,816 | ||||||||||||||||
Public Debt Servicing (Amortization) | 138,627,099 | 138,627,099 | 162,622,556 | 161,973,315 | ||||||||||||||||
Other Statutory Expenditure | 31,729,476 | 30,913,940 | 28,944,147 | 28,920,025 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
Total Statutory Recurrent | 4.1 | 343,084,242 | 342,268,706 | 342,761,519 | 342,088,156 | |||||||||||||||
Voted Expenditure | ||||||||||||||||||||
His Excellency the Governor-General & Staff | 126,150 | 122,848 | 124,788 | 121,180 | ||||||||||||||||
Houses of Parliament | 2,855,768 | 2,782,817 | 1,428,632 | 1,339,379 | ||||||||||||||||
Office of the Public Defender | 338,266 | 292,607 | 278,688 | 266,726 | ||||||||||||||||
Auditor General | 1,341,772 | 1,336,105 | 1,179,492 | 1,164,111 | ||||||||||||||||
Office of the Services Commissions | 472,597 | 461,782 | 497,406 | 420,152 | ||||||||||||||||
Office of the Children’s Advocate | 331,094 | 320,965 | 308,203 | 267,411 | ||||||||||||||||
Independent Commission of Investigations | 794,390 | 768,615 | 846,464 | 720,195 | ||||||||||||||||
Integrity Commission | 1,491,968 | 1,404,819 | 1,475,946 | 1,260,314 | ||||||||||||||||
Independent Fiscal Commission | 3,087 | 3,087 | 0 | 0 | ||||||||||||||||
Office of the Prime Minister | 14,547,616 | 14,411,558 | 10,851,399 | 10,770,585 | ||||||||||||||||
Office of the Cabinet | 918,738 | 912,043 | 1,013,293 | 1,008,975 | ||||||||||||||||
Ministry of Tourism | 12,707,080 | 12,707,080 | 12,247,680 | 12,247,680 | ||||||||||||||||
Ministry of Economic Growth and Job Creation | 18,995,678 | 18,958,908 | 19,795,952 | 19,177,122 | ||||||||||||||||
Ministry of Finance and the Public Service | 85,305,363 | 82,054,903 | 61,054,442 | 58,800,687 | ||||||||||||||||
Ministry of National Security | 134,022,567 | 133,857,646 | 115,564,349 | 114,973,707 | ||||||||||||||||
Ministry of Legal and Constitutional Affairs | 1,035,340 | 916,481 | 728,558 | 636,277 | ||||||||||||||||
Ministry of Justice | 11,984,202 | 11,700,589 | 11,246,546 | 10,789,819 | ||||||||||||||||
Ministry of Foreign Affairs and Foreign Trade | 8,449,793 | 8,449,793 | 5,607,550 | 5,607,550 |
31
Statement IV - Statement of Expenditure Compared with Issues from the Consolidated Fund (Cont’d)
Notes | Revised 2024 $’000 | Issues* 2024 $’000 | Revised 2023 $’000 | Issues* 2023 $’000 | ||||||||||||||||
Ministry of Labour and Social Security | 16,836,591 | 16,643,238 | 19,024,278 | 18,614,146 | ||||||||||||||||
Ministry of Education and Youth | 168,096,453 | 168,096,453 | 144,642,669 | 144,436,295 | ||||||||||||||||
Ministry of Health & Wellness | 130,857,701 | 130,855,961 | 121,111,869 | 120,989,724 | ||||||||||||||||
Ministry of Culture, Gender, Entertainment and Sport | 5,865,887 | 5,830,361 | 5,447,125 | 5,169,665 | ||||||||||||||||
Ministry of Agriculture, Fisheries & Mining | 13,647,076 | 13,647,076 | 12,066,885 | 12,066,885 | ||||||||||||||||
Ministry of Industry, Investment & Commerce | 6,048,868 | 6,048,868 | 5,501,932 | 5,484,312 | ||||||||||||||||
Ministry of Science, Energy & Technology | 714,014 | 714,014 | 9,393,925 | 9,026,517 | ||||||||||||||||
Post and Telecommunication Dept. | 3,437,887 | 3,437,887 | 3,118,626 | 3,093,712 | ||||||||||||||||
Ministry of Transport and Mining | 2,861,523 | 2,861,523 | 15,823,286 | 15,940,128 | ||||||||||||||||
Ministry of Science, Energy, Telecommunications and Transport | 19,613,524 | 19,178,175 | 0 | 0 | ||||||||||||||||
Ministry of Local Govt. and Community Development | 26,025,528 | 25,724,572 | 21,382,715 | 21,060,863 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
Total Voted Recurrent | 4.2 | 689,726,521 | 684,500,774 | 601,762,698 | 595,454,117 | |||||||||||||||
Total Recurrent | 1,032,810,763 | 1,026,769,480 | 944,524,217 | 937,542,273 | ||||||||||||||||
Voted Capital Expenditure | ||||||||||||||||||||
Office of the Prime Minister | 2,969,993 | 2,311,928 | 3,629,806 | 3,138,305 | ||||||||||||||||
Ministry of Economic Growth and Job Creation | 31,686,453 | 31,106,580 | 34,268,494 | 33,467,665 | ||||||||||||||||
Ministry of Finance and the Public Service | 4,051,336 | 3,731,746 | 3,481,527 | 3,305,581 | ||||||||||||||||
Ministry of National Security | 5,110,400 | 4,975,304 | 3,841,153 | 3,504,257 | ||||||||||||||||
Ministry of Justice | 35,000 | 35,000 | 146,500 | 146,500 | ||||||||||||||||
Ministry of Education and Youth | 768,646 | 724,874 | 414,765 | 365,490 | ||||||||||||||||
Ministry of Health & Wellness | 6,050,331 | 5,828,978 | 3,866,579 | 3,335,098 | ||||||||||||||||
Ministry of Agriculture, Fisheries & Mining | 5,449,275 | 4,849,050 | 4,332,122 | 3,477,202 | ||||||||||||||||
Ministry of Industry, Investment and Commerce | 801,384 | 769,752 | 710,230 | 596,576 | ||||||||||||||||
Ministry of Science, Energy and Technology | 10,437 | 10,437 | 378,282 | 238,390 | ||||||||||||||||
Ministry of Transport & Mining | 417,894 | 417,894 | 1,178,912 | 807,000 | ||||||||||||||||
Ministry of Science, Energy, Telecommunications & Transport | 1,089,799 | 879,728 | 0 | 0 | ||||||||||||||||
Ministry of Local Government and Community Development | 586,365 | 582,653 | 1,782,838 | 1,712,501 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
Total Voted Capital | 4.3 | 59,027,313 | 56,223,924 | 58,031,208 | 54,094,565 | |||||||||||||||
Total Capital | 59,027,313 | 56,223,924 | 58,031,208 | 54,094,565 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
Total Issues from the Consolidated Fund | 1,091,838,076 | 1,082,993,404 | 1,002,555,425 | 991,636,838 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
* Issues represents “Warrant” amounts transferred from the Consolidated Fund |
|
32
GOVERNMENT OF JAMAICA
FINANCIAL STATEMENTS OF THE CONSOLIDATED FUND
Statement V - Statement of Consolidated Fund Balances
Year Ended March 31, 2024
(Expressed in Jamaican dollars unless otherwise specified)
Notes | 2024 $’000 | 2024 $’000 | 2023 $’000 | 2023 $’000 | ||||||||||||||||
GENERAL REVENUE BALANCES | ||||||||||||||||||||
A. RECURRENT REVENUE | ||||||||||||||||||||
Recurrent Revenue | 911,085,486 | 813,610,713 | ||||||||||||||||||
Recurrent Expenditure | (1,026,769,480 | ) | (937,542,273 | ) | ||||||||||||||||
|
|
|
| |||||||||||||||||
Net Recurrent Revenue | (115,636,894 | ) | (123,931,560 | ) | ||||||||||||||||
B. CAPITAL REVENUE | ||||||||||||||||||||
Capital Revenue | 32,166,303 | 11,110,171 | ||||||||||||||||||
|
|
|
| |||||||||||||||||
C. LOAN FUND BALANCES | ||||||||||||||||||||
(i) Long Term Loans: | ||||||||||||||||||||
(a) External Loans Raised | 140,202,370 | 26,706,674 | ||||||||||||||||||
(b) Internal Loans Raised | 36,276,333 | 75,761,411 | ||||||||||||||||||
|
|
|
| |||||||||||||||||
176,478,703 | 102,468,085 | |||||||||||||||||||
|
|
|
| |||||||||||||||||
Capital Revenue & Loan Fund Balances (B+C) | 208,645,006 | 113,578,256 | ||||||||||||||||||
Capital Expenditure | (56,223,924 | ) | (54,094,565 | ) | ||||||||||||||||
|
|
|
| |||||||||||||||||
Deficit on Capital Transactions & Loan Receipt | 152,373,982 | 59,483,691 | ||||||||||||||||||
|
|
|
| |||||||||||||||||
Total Deficit Capital + Recurrent | 36,737,088 | (64,447,869 | ) | |||||||||||||||||
Add: | ||||||||||||||||||||
(i) Net Treasury Bills Issued | 21,709,561 | 20,754,980 | ||||||||||||||||||
(ii) Opening Cash Balance | 50,567,421 | 83,408,924 | ||||||||||||||||||
(iii) Other Payments | (13,050 | ) | (42,103 | ) | ||||||||||||||||
(iv) Other Receipts | 12,918 | 48,417 | ||||||||||||||||||
(v) Unrealized Foreign Exchange Gains | 967,411 | (398,856 | ) | |||||||||||||||||
(vi) Refund from the Central Payment Account | (13 | ) | (8,071 | ) | ||||||||||||||||
(vii) Surrendered Balances | 15,628,919 | 11,251,999 | ||||||||||||||||||
|
|
|
| |||||||||||||||||
88,873,167 | 115,015,290 | |||||||||||||||||||
|
|
|
| |||||||||||||||||
Cash Balance in Consolidated Fund | 125,610,255 | 50,567,421 | ||||||||||||||||||
|
|
|
| |||||||||||||||||
Adjusted Cash Balance March 31, 2024 | 5 | 125,610,255 | 50,567,421 | |||||||||||||||||
|
|
|
|
33
GOVERNMENT OF JAMAICA
FINANCIAL STATEMENTS OF THE CONSOLIDATED FUND
Statement VI - Statement of Cash Flows
Year Ended March 31, 2024
(Expressed in Jamaican dollars unless otherwise specified)
Notes | 2024 J$’ 000 | 2023 J$’000 | ||||||||||
Cash Flows from Operating Activities: | ||||||||||||
Receipts: | ||||||||||||
Taxation Revenue | 827,304,708 | 746,357,850 | ||||||||||
Non-Tax Revenue | 83,780,778 | 67,252,863 | ||||||||||
Grants | 8,137,501 | 5,570,287 | ||||||||||
Surrendered Balances | 15,628,919 | 11,251,999 | ||||||||||
Other | 12,918 | 48,417 | ||||||||||
|
|
|
| |||||||||
Total Receipts from Operating Activities | 934,864,824 | 830,481,416 | ||||||||||
Payments: | ||||||||||||
Employee Costs Salaries | 401,271,464 | 343,050,523 | ||||||||||
Employee Costs Travelling | 10,457,553 | 9,497,449 | ||||||||||
Superannuation | 42,356,663 | 41,281,415 | ||||||||||
Suppliers | 86,045,250 | 88,053,036 | ||||||||||
Interest Paid | 172,727,667 | 151,550,811 | ||||||||||
Grants, Contributions and Subsidies | 104,666,366 | 99,099,551 | ||||||||||
Capital Goods Purchases | 59,039,862 | 46,029,149 | ||||||||||
Other Payments | 67,801,480 | 49,916,129 | ||||||||||
|
|
|
| |||||||||
Total Payments | 944,366,305 | 828,478,063 | ||||||||||
Net Cash from Operating Activities | (9,501,481 | ) | 2,003,353 | |||||||||
Cash Flows from Financing Activities | ||||||||||||
Proceeds from Borrowings | 140,202,370 | 26,706,674 | ||||||||||
Repayment of Borrowings | (138,627,099 | ) | (161,973,315 | ) | ||||||||
Repayment of Other Loans | (0 | ) | (1,185,460 | ) | ||||||||
Repayment of GOJ Guaranteed Loan | 24,028,802 | 5,539,884 | ||||||||||
Domestic Benchmark Notes | 36,276,333 | 75,761,411 | ||||||||||
Treasury Bills Issued | 21,709,561 | 20,754,980 | ||||||||||
Other | (13,063 | ) | (50,174 | ) | ||||||||
|
|
|
| |||||||||
Net Cash from Financing Activities | 83,576,904 | (34,446,000 | ) | |||||||||
Net increase/(decrease) in Cash | 74,075,423 | (32,442,647 | ) | |||||||||
Cash at Beginning of Period | 50,567,421 | 83,408,924 | ||||||||||
Add adjustment to opening Balance April 1 | 967,411 | (398,856 | ) | |||||||||
|
|
|
| |||||||||
Net Ending Cash Balance March 31, 2024 | 6 | 125,610,255 | 50,567,421 | |||||||||
|
|
|
|
34
GOVERNMENT OF JAMAICA
FINANCIAL STATEMENTS OF THE CONSOLIDATED FUND
Statement VII - Statement of Transfers from the Capital Development Fund
Year Ended March 31, 2024
(Expressed in Jamaican dollars unless otherwise specified)
Notes | $’000 | $’000 | ||||||||||
Bauxite Production Levy Received | 69,585,304 | |||||||||||
Less: Refund/Remissions | (630,614 | ) | ||||||||||
|
| |||||||||||
Net Receipts | 68,954,690 | |||||||||||
Add: Retained Earnings | 3,291,177 | |||||||||||
|
| |||||||||||
72,245,867 | ||||||||||||
Less: | ||||||||||||
(a) Transfers to Consolidated Fund to date | 53,606,653 | |||||||||||
(b) Grants | 11,807,371 | |||||||||||
(c) Net Levy Written off | 153,315 | |||||||||||
|
| |||||||||||
65,567,339 | ||||||||||||
|
| |||||||||||
Value of Fund at 31st March, 2024 | 7 | 6,678,528 | ||||||||||
|
| |||||||||||
Value of Fund at 31st March, 2023 | 4,923,166 | |||||||||||
|
|
Source: Development Bank of Jamaica
35
GOVERNMENT OF JAMAICA
FINANCIAL STATEMENTS OF THE CONSOLIDATED FUND
Statement VIII - Contingencies Fund
Year Ended March 31, 2024
(Expressed in Jamaican dollars unless otherwise specified)
2024 | 2023 | |||||||||||
Notes | $’000 | $’000 | ||||||||||
Opening Balance | 5,131,717 | 4,917,659 | ||||||||||
Increase in Contingencies Fund | 200,000 | 200,000 | ||||||||||
Interest Earned | 325,352 | 194,689 | ||||||||||
Transfer to Miscellaneous Revenue | (325,004 | ) | (180,631 | ) | ||||||||
Disbursement of Advances from the Contingencies Fund | (0 | ) | (2,809,947 | ) | ||||||||
Recoveries of Advances to Contingencies Fund | 0 | 2,809,947 | ||||||||||
|
|
|
| |||||||||
Balance at Year End | 8 | 5,332,065 | 5,131,717 | |||||||||
|
|
|
|
36
GOVERNMENT OF JAMAICA
FINANCIAL STATEMENTS OF THE CONSOLIDATED FUND
Statement IX – Local (Internal) and Foreign (External) Debt
As at March 31, 2024
(Expressed in Jamaican dollars unless otherwise specified)
Notes | 2024 J$ Equivalent | 2023 J$ Equivalent | ||||||||||
LOCAL DEBT | ||||||||||||
I Perpetual Annuities | 155 | 155 | ||||||||||
|
|
|
| |||||||||
II Market Loans | ||||||||||||
Treasury Bills | 10,300,000 | 10,300,000 | ||||||||||
J$ Benchmark Investment Notes | 753,436,730 | 725,614,458 | ||||||||||
CPI-Indexed Investment Notes | 67,759,249 | 63,398,650 | ||||||||||
|
|
|
| |||||||||
Total Market Loans | 831,495,979 | 799,313,108 | ||||||||||
Total Local Debt | 9.1 | 831,496,134 | 799,313,263 | |||||||||
|
|
|
| |||||||||
EXTERNAL DEBT | ||||||||||||
I Currency Obligations to Commercial Enterprises: | ||||||||||||
Bond Holders | 757,808,853 | 745,640,232 | ||||||||||
|
|
|
| |||||||||
Total Currency Obligations to Commercial Enterprises | 757,808,853 | 745,640,232 | ||||||||||
II Foreign Government & Government Agencies | ||||||||||||
USAID | 20,370 | 23,235 | ||||||||||
US Department of Agriculture | 0 | 99,712 | ||||||||||
China | 87,793,192 | 91,881,708 | ||||||||||
Federal Republic of Germany | 860,200 | 992,500 | ||||||||||
Japan | 464,954 | 455,287 | ||||||||||
Netherlands Investment Bank | 50,054 | 58,604 | ||||||||||
Kingdom of Belgium | 218,144 | 269,760 | ||||||||||
Venezuela | 13,605,972 | 14,449,661 | ||||||||||
|
|
|
| |||||||||
Total Foreign Government & Government Agencies | 103,012,886 | 108,230,467 | ||||||||||
III International & Multilateral Institutions: | ||||||||||||
Inter -American Development Bank | 230,788,183 | 239,555,527 | ||||||||||
Caribbean Development Bank | 20,117,813 | 22,493,689 | ||||||||||
Int’l Bank for Reconstruction & Development | 152,536,467 | 155,352,479 |
37
Statement IX –Local (Internal) and Foreign (External) Debt (Cont’d)
Notes | 2024 J$ Equivalent | 2023 J$ Equivalent | ||||||||||
OPEC Fund for Int’l Development | 1,020,896 | 1,263,755 | ||||||||||
European Economic Community Commission | 2,540,496 | 2,796,005 | ||||||||||
NORDIC Development Fund | 527,034 | 572,208 | ||||||||||
International Monetary Fund | 129,025,938 | 29,592,663 | ||||||||||
|
|
|
| |||||||||
Total International & Multilateral Institutions | 536,556,827 | 451,626,326 | ||||||||||
Total Foreign Debt | 9.2 | 1,397,378,566 | 1,305,497,025 | |||||||||
Total Local Debt | 831,496,134 | 799,313,263 | ||||||||||
|
|
|
| |||||||||
TOTAL LOCAL & FOREIGN DEBT | 2,228,874,700 | 2,104,810,288 | ||||||||||
|
|
|
|
Source: Debt Management Branch, Ministry of Finance and the Public Service
38
Notes to the Financial Statements
1 Statement of Receipts and Payments of the Consolidated Fund
This Statement is a summary of receipts and payments of the Consolidated Fund Accounts.
1.1 The Consolidated Fund - Opening
The Consolidated Fund accounts are comprised of: Jamaican Dollar Consolidated Fund Bank Account $33.074 billion; United States Dollar Consolidated Fund Bank Account (US$115.418 million @ J$151.5654) $17.493 billion, aggregate of $50.567 billion as of April 1, 2023.
1.2 The Consolidated Fund - Closing
The Consolidated Fund accounts are comprised of: Jamaican Dollar Consolidated Fund Bank Account $58.760 billion; US$ Consolidated Fund Bank Account (US$431.898 million @ J$154.7836) $66.850 billion, aggregate of $125.610 billion as of March 31, 2024.
1.3 Refunds from the Consolidated Fund Account/Central Payments Account
Refunds recovered from erroneous transfers made to the Consolidated Fund Accounts upon the requisite approvals. Negative Warrant amounts refunded from the Central Payment Account.
2. Statement of Financing
This Statement shows receipts and payments from the Consolidated Fund for the year ended March 31, 2024 and how the surplus was used or how the deficit was financed.
2.1 Net Surplus/ (Deficit)
There was a surplus of $74.063 million for the year in comparison to a deficit of $32.449 million for 2023.
3. Statement of Receipts of the Consolidated Fund Compared with Estimates
This Statement includes Revenue Estimates and Actual Receipts, as well as, comparative data from the previous year.
3.1 Tax Revenue Recurrent
These are receipts generated from taxes. Included in this statement are the amounts that were transferred to the Consolidated Fund by the Principal Receivers of Revenue (PRRs). All revenues generated by the PRRs are required to be transferred to the Consolidated Fund.
3.2 Non-Tax Revenue Recurrent
Total receipts recorded for the year in the Consolidated Fund for this revenue category is $83.781 billion. The main revenue components include Miscellaneous Revenue, De-earmarked Receipts, Financial Distributions and Loan Interest. Dividends and Other Miscellaneous Revenue from public bodies are also included.
39
Notes to the Financial Statements (Cont’d)
3.3 Capital Revenue
This includes revenue raised through grants and loan repayments.
3.4 External Loans
These are receipts recorded in the Consolidated Fund Principal Bank Accounts for funds raised from multilateral and bilateral loans.
3.5 Domestic Loans
These receipts include benchmark notes and treasury bills received in the Consolidated Fund Principal Bank Account. Benchmark notes amounts to $36.276 billion for the financial year (2023: $75.761 billion).
3.6 Surrendered Balances
These receipts represent unexpended Warrant cash balances returned to the Consolidated Fund Principal Bank Account.
4 Statement of Expenditure of the Consolidated Fund Compared with Estimates
This statement details issues (warrants) from the Consolidated Fund Principal Bank Account. Total issues from the Consolidated Fund for the year was $1,082.993 billion (2023: $991.637 billion) compared with total Estimates of $1,091.838 billion (2023: $1,002.555 billion).
4.1 Recurrent Statutory Expenditure
Statutory Recurrent Expenditure details public debt charges and expenditure to statutory heads such as Pensions, His Excellency Governor General and the Auditor General.
4.2 Recurrent Voted Expenditure
Voted Recurrent Expenditure are issues from the Consolidated Fund Principal Bank Account for Ministries, Departments and Agencies displayed by Head.
4.3 Voted Capital Expenditure
An amount of $56.223 billion (2023: $54.094 billion) was issued for Voted Capital Expenditure.
5. Statement of Consolidated Fund Balances
This Statement summarizes the receipts and payments recorded in the Consolidated Fund Principal Bank Account and how both relate to the opening and closing cash balances in the Consolidated Fund Principal Bank Account.
40
Notes to the Financial Statements (Cont’d)
6. Statement of Cash Flows
The Statement of Cash Flows classifies the flow of funds for the period by operating, investing and financing activities.
7. Capital Development Fund
The Capital Development Fund is funded by Bauxite Levy. There were no transfers to the Consolidated Fund in financial year 2023/2024.
8. Contingencies Fund
The Contingencies Fund is established pursuant to Section 118 of the Constitution and further guided by Section 13 of the FAA Act. The balance of the Contingencies Fund as at March 31, 2024 was $5.332 billion (2023: $5.132 billion). There was an approved increase of $0.200 billion to the Contingencies Fund for the reporting period.
9. Statement of Local (Internal) and Foreign (External) Debt
This statement details outstanding local and foreign debt as at March 31, 2024.
41
Notes to the Financial Statements (Cont’d)
NOTE 9.1
GOVERNMENT OF JAMAICA
STATEMENT VIII
STATEMENT OF OUTSTANDING PUBLIC DEBT (LOCAL)
AS AT MARCH 31, 2024
INTERNAL DEBT | CURRENCY | BALANCE OUTSTANDING | JA$ EQUIVALENT | |||||||||
I PERPETUAL ANNUITIES | ||||||||||||
PERPETUAL ANNUITIES | JAM | 154,832.69 | 154,832.69 | |||||||||
|
| |||||||||||
SUB-TOTAL PERPETUAL ANNUITIES | JAM | 154,833.00 | 154,832.69 | |||||||||
|
| |||||||||||
SUB-TOTAL CATEGORY I (PERPETUAL ANNUITIES) | JAM | 154,832.69 | ||||||||||
|
| |||||||||||
II MARKET LOANS | ||||||||||||
(a) TREASURY BILLS | ||||||||||||
Treasury Bills Issue - 8.42% Due -Apr-2024 | JAM | 800,000,000.00 | 800,000,000.00 | |||||||||
Treasury Bills Issue – 7.79% Due -April-2024 | JAM | 700,000,000.00 | 700,000,000.00 | |||||||||
Treasury Bills Issue - 8.39% Due -April-2024 | JAM | 700,000,000.00 | 700,000,000.00 | |||||||||
Treasury Bills Issue - 9.00% Due -May-2024 | JAM | 800,000,000.00 | 800,000,000.00 | |||||||||
Treasury Bills Issue - 8.42% Due -May-2024 | JAM | 700,000,000.00 | 700,000,000.00 | |||||||||
Treasury Bills Issue - 8.35% Due -May 2024 | JAM | 700,000,000.00 | 700,000,000.00 | |||||||||
Treasury Bills Issue - 8.46% Due -June-2024 | JAM | 700,000,000.00 | 700,000,000.00 | |||||||||
Treasury Bills Issue - 8.03% Due -June-2024 | JAM | 700,000,000.00 | 700,000,000.00 | |||||||||
Treasury Bills Issue - 8.42% Due -July-2024 | JAM | 700,000,000.00 | 700,000,000.00 | |||||||||
Treasury Bills Issue - 8.30% Due -August- 2024 | JAM | 700,000,000.00 | 700,000,000.00 | |||||||||
Treasury Bills Issue - 8.43% Due -August-2024 | JAM | 800,000,000.00 | 800,000,000.00 | |||||||||
Treasury Bills Issue - 8.11% Due - September -2024 | JAM | 700,000,000.00 | 700,000,000.00 | |||||||||
Treasury Bills Issue - 8.72% Due - October-2024 | JAM | 800,000,000.00 | 800,000,000.00 | |||||||||
Treasury Bills Issue - 8.62% Due -November - 2024 | JAM | 800,000,000.00 | 800,000,000.00 | |||||||||
|
| |||||||||||
SUB-TOTAL (a) Treasury Bills | JAM | 10,300,000,000.00 | ||||||||||
|
|
42
Notes to the Financial Statements (Cont’d)
INTERNAL DEBT | CURRENCY | BALANCE OUTSTANDING | JA$ EQUIVALENT | |||||||||
(b) Jamaica Dollar Benchmark Investment Notes | ||||||||||||
GOJ FIXED RATE 13.25% BENCHMARK INVESTMENT NOTES - Due 2040 | JAM | 7,431,000.00 | 7,431,000.00 | |||||||||
GOJ FIXED RATE 11.00% BENCHMARK INVESTMENT NOTES - Due 2024 | JAM | 23,704,500,427.00 | 23,704,500,427.00 | |||||||||
GOJ FIXED RATE STEP UP INVESTMENT NOTES - Due 2024 “FR24B” | JAM | 4,946,293,367.00 | 4,946,293,367.00 | |||||||||
GOJ FIXED RATE STEP UP INVESTMENT NOTES - Due 2024 “FR24C” | JAM | 8,700,929,000.00 | 8,700,929,000.00 | |||||||||
GOJ FIXED RATE ACCRETING INVESTMENT NOTES - Due 2028 | JAM | 132,931,529,233.81 | 132,931,529,233.81 | |||||||||
GOJ FIXED RATE 11.875% BENCHMARK INVESTMENT NOTES - Due 2030 | JAM | 24,128,232,715.00 | 24,128,232,715.00 | |||||||||
GOJ FIXED RATE 11.25% BENCHMARK INVESTMENT NOTES - Due 2046 | JAM | 2,896,758,593.00 | 2,896,758,593.00 | |||||||||
GOJ FIXED RATE 12.25% BENCHMARK INVESTMENT NOTES - Due 2050 | JAM | 52,040,800,900.00 | 52,040,800,900.00 | |||||||||
GOJ FIXED RATE 11.25% BENCHMARK INVESTMENT NOTES - Due 2046 | JAM | 33,463,057,000.00 | 33,463,057,000.00 | |||||||||
GOJ FIXED RATE 9.50 % BENCHMARK INVESTMENT NOTES - Due 2026 | JAM | 18,626,573,000.00 | 18,626,573,000.00 | |||||||||
GOJ FIXED RATE 9.625% BENCHMARK INVESTMENT NOTES - Due 2031 | JAM | 29,086,150,000.00 | 29,086,150,000.00 | |||||||||
GOJ FIXED RATE 10.00% BENCHMARK INVESTMENT NOTES - Due 2037 | JAM | 59,628,726,800.00 | 59,628,726,800.00 | |||||||||
GOJ FIXED RATE 5.675% BENCHMARK INVESTMENT NOTES - Due 2029 | JAM | 48,048,736,000.00 | 48,048,736,000.00 | |||||||||
GOJ FIXED RATE 6.25% BENCHMARK INVESTMENT NOTES - Due 2048 | JAM | 20,836,667,000.00 | 20,836,667,000.00 | |||||||||
GOJ FIXED RATE 4.25% BENCHMARK INVESTMENT NOTES - Due 2024 | JAM | 5,023,534,000.00 | 5,023,534,000.00 | |||||||||
GOJ FIXED RATE 5.80% BENCHMARK INVESTMENT NOTES - Due 2034 | JAM | 54,707,288,500.00 | 54,707,288,500.00 | |||||||||
GOJ FIXED RATE 4.50% BENCHMARK INVESTMENT NOTES- Due 2025 | JAM | 37,824,000,000.00 | 37,824,000,000.00 | |||||||||
GOJ FIXED RATE 8.50% BENCHMARK INVESTMENT NOTES- Due 2061 | JAM | 5,800,000,000.00 | 5,800,000,000.00 | |||||||||
GOJ FIXED RATE 11.75% BENCHMARK INVESTMENT NOTES - DUE 2053 | JAM | 10,921,000,000.00 | 10,921,000,000.00 | |||||||||
GOJ FIXED RATE 10.00% BENCHMARK INVESTMENT NOTES - DUE 2028 | JAM | 37,500,000,000.00 | 37,500,000,000.00 | |||||||||
GOJ VARIABLE RATE BENCHMARK INVESTMENT NOTE - DUE 2027 | JAM | 2,000,000.00 | 2,000,000.00 | |||||||||
GOJ VARIABLE RATE STEP UP BENCHMARK INVESTMENT NOTE - Due 2025 | JAM | 91,922,865,518.00 | 91,922,865,518.00 | |||||||||
GOJ VARIABLE RATE STEP UP BENCHMARK INVESTMENT NOTE - Due 2035 | JAM | 50,689,657,296.00 | 50,689,657,296.00 | |||||||||
|
| |||||||||||
SUB-TOTAL (b) Jamaica Dollar Benchmark Investment Notes | JAM | 753,436,730,349.81 | ||||||||||
|
|
43
Notes to the Financial Statements (Cont’d)
INTERNAL DEBT | CURRENCY | BALANCE OUTSTANDING | JA$ EQUIVALENT | |||||||||
(c) CPI-Indexed Investment Notes | ||||||||||||
CPI -INDEXED INVESTMENT NOTES - Due 2025 | JAM | 7,626,184,886.00 | 14,080,605,396.60 | |||||||||
CPI -INDEXED INVESTMENT NOTES - Due 2033 | JAM | 19,496,712,060.00 | 35,997,751,582.44 | |||||||||
CPI -INDEXED INVESTMENT NOTES - Due 2040 | JAM | 9,576,133,182.00 | 17,608,892,159.93 | |||||||||
|
| |||||||||||
SUB-TOTAL (c) CPI-Indexed Investment Notes | JAM | 67,759,249,138.97 | ||||||||||
|
| |||||||||||
SUB-TOTAL CATEGORY II (MARKET LOANS) | JAM | 831,495,979,488.78 | ||||||||||
|
| |||||||||||
TOTAL INTERNAL DEBT | JAM | 831,496,134,321.47 | ||||||||||
|
|
Source: Debt Management Branch, Ministry of Finance and the Public Service
44
Notes to the Financial Statements (Cont’d)
NOTE 9.2
GOVERNMENT OF JAMAICA
STATEMENT VIII
STATEMENT OF OUTSTANDING PUBLIC DEBT (FOREIGN)
AS AT MARCH 31, 2024
EXTERNAL DEBT | CURRENCY | BALANCE OUTSTANDING | JA$ EQUIVALENT | |||||||||
I FOREIGN CURRENCY OBLIGATIONS TO COMMERCIAL ENTERPRISES |
| |||||||||||
1) BOND HOLDERS | ||||||||||||
US$250M 9.25% NOTES DUE 2025 | US | 69,956,000.00 | 10,828,041,521.60 | |||||||||
US$250M 8.5% BOND 2036 | US | 199,430,000.00 | 30,868,493,348.00 | |||||||||
US$500M 8 % BOND 2039 | US | 1,117,678,000.00 | 172,998,224,480.80 | |||||||||
US$800M 7.625% Bond due 2025 | US | 183,191,226.00 | 28,354,997,448.69 | |||||||||
US$1,350M 6.75% Bond due 2028 | US | 1,223,304,000.00 | 189,347,397,014.40 | |||||||||
US$650M 7.975% BOND DUE 2045 | US | 1,801,300,000.00 | 278,811,698,680.00 | |||||||||
US$300M BOND DUE 2030 | US | 300,000,000.00 | 46,600,000,000.00 | |||||||||
|
| |||||||||||
TOTAL - BOND HOLDERS | 757,808,852,493.49 | |||||||||||
|
| |||||||||||
II FOREIGN GOVERNMENT AND GOVERNMENT AGENCIES | ||||||||||||
a) UNITED STATES | ||||||||||||
1. U.S. AGENCY FOR INTERNATIONAL DEVELOPMENT | ||||||||||||
532-T-046D CROP DIVERSIFICATION & IRRIGATION PROJ. | US | 131,605.10 | 20,370,311.16 | |||||||||
|
| |||||||||||
TOTAL - U.S. AGENCY FOR INTERNATIONAL DEVELOPMENT | 20,370,311.16 | |||||||||||
|
|
45
Notes to the Financial Statements (Cont’d)
EXTERNAL DEBT | CURRENCY | BALANCE OUTSTANDING | JA$ EQUIVALENT | |||||||||
b) CHINA | ||||||||||||
1. EXIM BANK OF CHINA | ||||||||||||
JAMAICA CRICKET STADIUM PROJECT | CNY | 22,617,886.80 | 484,309,346.15 | |||||||||
MONTEGO BAY CONVENTION CENTER | CNY | 90,322,580.60 | 1,934,047,611.94 | |||||||||
PALISADOES SHORELINE PROTECTION REHABILITATION WORKS PROJECT | USD | 9,296,000.00 | 1,438,868,345.60 | |||||||||
JAMAICA ECONOMIC HOUSING PROJECT | CNY | 204,098,687.20 | 4,370,297,836.45 | |||||||||
JAMAICA ROAD IMPROVEMENT & REHABILITATION WORKS PROJECT | USD | 51,000,000.00 | 7,893,963,600.00 | |||||||||
MAJOR INFRASTRUCTURE DEVELOPMENT PROGRAMME | USD | 150,197,782.40 | 23,248,153,471.89 | |||||||||
JAMAICA SOUTHERN COASTAL HIGHWAY IMPROVEMENT PROJECT | USD | 310,080,000.00 | 47,995,298,688.00 | |||||||||
|
| |||||||||||
TOTAL EXIM BANK OF CHINA | 87,364,938,900.03 | |||||||||||
|
| |||||||||||
2. PEOPLE’S REPUBLIC OF CHINA 20.0MN YUAN | ||||||||||||
AGREEMENT ON ECONOMIC AND TECHNICAL CO-OPERTION 20.0M YUAN | CNY | 20,000,000.00 | 428,253,400.00 | |||||||||
|
| |||||||||||
TOTAL PEOPLE’S REPUBLIC OF CHINA | 428,253,400.00 | |||||||||||
|
| |||||||||||
TOTAL CHINA | 87,793,192,300.03 | |||||||||||
|
|
46
Notes to the Financial Statements (Cont’d)
EXTERNAL DEBT | CURRENCY | BALANCE OUTSTANDING | JA$ EQUIVALENT | |||||||||
FEDERAL REPUBLIC OF GERMANY | ||||||||||||
1. KREDITANSTALT FUR WIEDERAUFBAU | ||||||||||||
89-65-121 HURRICANE RECONSTRUCTION ASSISTANCE 2 | EURO | 1,845,915.30 | 312,380,185.21 | |||||||||
89-65-857 HURRICANE RECONSTRUCTION ASSISTANCE III | EURO | 2,013,139.10 | 340,679,100.99 | |||||||||
93-65-941 REHAB OF 5 SMALL HYDROPOWER PLANTS | EURO | 1,224,032.60 | 207,140,344.03 | |||||||||
|
| |||||||||||
TOTAL - KREDITANSTALT FUR WIEDERAUFBAU | 860,199,630.23 | |||||||||||
|
| |||||||||||
JAPAN | ||||||||||||
2. JAPAN INTERNATIONAL CO-OPERATION AGENCY | ||||||||||||
ENERGY MANAGEMENT AND EFFICIENCY PROGRAMME | USD | 3,003,897.80 | 464,954,115.52 | |||||||||
TOTAL-JAPAN INTERNATIONAL CO-OPERATION AGENCY | ||||||||||||
|
| |||||||||||
TOTAL - JAPAN | 464,954,115.52 | |||||||||||
|
| |||||||||||
NETHERLAND INVESTMENT BANK | ||||||||||||
1978.03 CONSOLIDATION OF INTEREST AMOUNTS | EURO | 210,329.70 | 35,593,632.41 | |||||||||
1980.02 CONSOLIDATION OF INTEREST AMOUNTS | EURO | 85,446.10 | 14,459,855.52 | |||||||||
|
| |||||||||||
TOTAL - NETHERLAND INVESTMENT BANK | 50,053,487.93 | |||||||||||
|
|
47
Notes to the Financial Statements (Cont’d)
EXTERNAL DEBT | CURRENCY | BALANCE OUTSTANDING | JA$ EQUIVALENT | |||||||||
BELGIUM | ||||||||||||
GOVT. OF THE KINGDOM OF BELGIUM | ||||||||||||
MODERNIZATION OF KINGSTON MUNICIPALITY | EURO | 1,289,055.60 | 218,144,043.27 | |||||||||
|
| |||||||||||
TOTAL - GOVT. OF THE KINGDOM OF BELGIUM | 218,144,043.27 | |||||||||||
|
| |||||||||||
VENEZUELA | ||||||||||||
VENEZUELA ENERGY AGREEMENT | US | 87,903,188.00 | 13,605,971,890.12 | |||||||||
|
| |||||||||||
TOTAL VENEZUELA | 13,605,971,890.12 | |||||||||||
|
| |||||||||||
TOTAL FOREIGN GOVERNMENT & GOVERNMENT AGENCIES | 103,012,885,778.26 | |||||||||||
|
| |||||||||||
III INTERNATIONAL & MULTILATERAL INSTITUTIONS | ||||||||||||
INTER-AMERICAN DEVELOPMENT BANK | ||||||||||||
1185/OC-JA SOLID WASTE MANAGEMENT PROGRAM | US | 90,303.60 | 13,977,516.30 | |||||||||
1197/OC-JA PARISH INFRASTRUCTURE | US | 292,384.20 | 45,256,279.06 | |||||||||
1264/OC-JA PRIMARY EDUCATION SUPPORT PRG. | US | 2,996,618.80 | 463,827,445.69 | |||||||||
1283/OC-JA AGRICULTURAL SUPPORT SERVICES PROJECT | US | 1,845,744.50 | 285,690,978.39 | |||||||||
1344/OC-CITIZEN, SECURITY & JUSTICE | US | 1,777,347.90 | 275,104,306.41 | |||||||||
1360/OC-JA-RURAL WATER | US | 1,136,324.20 | 175,884,350.44 | |||||||||
1419/OC-JA EMERGENCY RECONSTRUCTION | US | 2,608,628.80 | 403,772,956.73 | |||||||||
1438/OC/JA -RE INFORMATION AND COMM. TECH PROJECT | US | 1,987,634.60 | 307,653,238.87 | |||||||||
1559/OC/JA-1- SOCIAL PROTECTION SUPPORT FOR FOOD PRICE CRISIS | US | 4,875,000.00 | 754,570,050.00 | |||||||||
1562/OC-JA - NATIONAL IRRIGATION DEVELOPMENT PROGRAM | US | 1,266,800.90 | 196,080,003.79 |
48
Notes to the Financial Statements (Cont’d)
EXTERNAL DEBT | CURRENCY | BALANCE OUTSTANDING | JA$ EQUIVALENT | |||||||||
1959/OC/JA - EMERGENCY ASSIST. - 2007 ATLANTIC HURRICANE SEASON | US | 4,999,901.80 | 696,511,000.25 | |||||||||
1972/OC/JA - COMPETITIVENESS ENHANCEMENT PROGRAM | US | 9,000,000.00 | 1,393,052,400.00 | |||||||||
2026/OC/JA - TRANSPORTATION INFRASTRUCTURE REHAB. PROGRAMME | US | 25,209,164.90 | 3,901,965,296.22 | |||||||||
2039/OC/JA - YOUTH DEVELOPMENT PROGRAM PHASE 1 | US | 4,827,958.60 | 747,288,812.76 | |||||||||
2058/OC/JA - PUBLIC FINANCIAL & PERFORMANCE MANAGEMENT | US | 20,000,000.00 | 3,095,672,000.00 | |||||||||
2074/OC/JA - EDUCATION REFORM PROGRAM | US | 10,000,000.00 | 1,547,836,000.00 | |||||||||
2100/OC/JA - SUPPLEMENTAL LOAN TO FINANCE THE PESP ACTIVITIES | US | 5,809,649.80 | 899,238,510.78 | |||||||||
2272/OC/JA - CITIZEN SECURITY AND JUSTICE PROGRAM 11 | US | 10,999,999.90 | 1,702,619,584.52 | |||||||||
2276/OC/JA - ROAD IMPROVEMENT PROGRAM | US | 5,377,280.20 | 832,314,787.56 | |||||||||
2297/OC/JA - COMPETITIVE ENHANCEMENT PROGRAM | US | 24,000,000.00 | 3,714,806,400.00 | |||||||||
2298/OC/JA - PUBLIC FINANCIAL & PERFORMANCE MGMT PROG. 11 | US | 24,000,000.00 | 3,714,806,400.00 | |||||||||
2299/OC/JA - HUMAN CAPITAL AND PROTECTION PROGRAM | US | 19,999,999.90 | 3,095,671,984.52 | |||||||||
2300/OC/JA - SUPPORT FOR EDUCATION SECTOR REFORM 11 (PBL) | US | 12,000,000.00 | 1,857,403,200.00 | |||||||||
2301/OC/JA - SUPPORT FOR EDUCATION SECTOR REFORM 11 (Investment) | US | 4,828,171.50 | 747,321,766.19 | |||||||||
2359/OC/JA - FISCAL CONSOLIDATION PG FIRST PROG OPERATION | US | 86,666,666.60 | 13,414,578,656.35 | |||||||||
2444/OC-JA - AGRICULTURAL COMPETITIVENESS PROGRAMME | US | 9,213,166.30 | 1,426,047,047.31 | |||||||||
2502/OC/JA - FISCAL CONSOLIDATION PROGRAMME 11 | US | 93,333,333.30 | 14,446,469,328.17 | |||||||||
2519/OC/JA - HUMAN CAPITAL AND PROTECTION PROGRAMME 11 | US | 23,333,333.30 | 3,611,617,328.17 | |||||||||
2521/OC-JA - PUBLIC FINANCIAL & PERFORMANCE MANAGEMENT PROGRAMME III | US | 40,000,000.00 | 6,191,344,000.00 | |||||||||
2629/OC/JA - ENERGY EFFICIENCY & CONSERVATION PROGRAMME | US | 2,299,183.30 | 355,875,868.23 | |||||||||
2658/OC/JA - FISCAL ADMINISTRATION & MODERNIZATION PROGRAMME | US | 28,900,477.90 | 4,473,320,011.08 | |||||||||
2889/OC-JA - INTEGRATED SOCIAL PROTECTION AND LABOUR PROGRAMME | US | 21,002,829.80 | 3,250,893,606.63 | |||||||||
3121/OC-JA - PUBLIC SECTOR EFFIENCY PROGRAMME (PSE) | US | 5,973,364.20 | 924,578,814.99 | |||||||||
3122/OC-JA - PUBLIC SECTOR EFFIENCY PROGRAMME (PSE) CHINA CO-FINANCING | US | 4,119,603.80 | 637,647,106.74 | |||||||||
3147/OC-JA - COMPETITIVENESS ENHANCEMENT PROGRAMME III | US | 40,000,000.00 | 6,191,344,000.00 | |||||||||
3148/OC-JA - FISCAL STRUCTURAL PROGRAMME FOR ECONOMIC GROWTH | US | 53,333,333.30 | 8,255,125,328.17 | |||||||||
3191/OC-JA - CITIZEN SECURITY JUSTICE PROGRAMME III | US | 16,025,140.10 | 2,480,428,875.18 | |||||||||
3381/SX-JA- ADAPT PRG &FIN MECH FOR THE PILOT PRG FOR PPCR JAM | US | 8,707,100.00 | 1,347,716,283.56 |
49
Notes to the Financial Statements (Cont’d)
EXTERNAL DEBT | CURRENCY | BALANCE OUTSTANDING | JA$ EQUIVALENT | |||||||||
3511/OC-JA - FISCAL STRUCTURAL PROGRAMME FOR ECONOMIC GROWTH II | US | 99,666,666.70 | 15,426,765,471.83 | |||||||||
3560/OC-JA - EDUCATION SECTOR REFORM III | US | 20,000,000.00 | 3,095,672,000.00 | |||||||||
3565/OC-JA - INTEGRATED SUPPORT TO JAMAICA SOCIAL PROTECTION STRATEGY | US | 21,284,613.78 | 3,294,509,145.48 | |||||||||
3565/OC-JA - INTEGRATED SUPPORT TO JAMAICA SOCIAL PROTECTION STRATEGY | JMD | 2,971,382,187.50 | 2,971,382,187.50 | |||||||||
3704/OC-JA - FINANCIAL SYSYTEM REFORM SUPPORT PROGRAMME | US | 83,333,333.35 | 12,898,633,335.91 | |||||||||
3880/OC-JA- FISCAL STRUCTURALPROGRAMME FOR ECONOMIC GROWTH III | JMD | 4,412,137,503.16 | 4,412,137,503.16 | |||||||||
3877/OC-JA - ENERGY MANAGEMENT AND EFFICIENCY PROGRAMME | US | 4,429,747.00 | 685,652,187.75 | |||||||||
4115/OC-JA - CREDIT ENHANCING PROGRAMME FOR MICRO, SMALL AND MEDIUM ENTERPRISES | US | 18,501,455.00 | 2,863,720,262.30 | |||||||||
4373/OC-JA - SUPPORT TO THE PUBLIC SECTOR TRANSFORMATION PROJECT (POLICY-BASED) | US | 102,666,666.70 | 15,891,116,271.83 | |||||||||
4374/OC-JA - SUPPORT TO THE PUBLIC SECTOR TRANSFORMATION PROJECT (INVESTMENT) | US | 50,000,000.00 | 7,739,180,000.00 | |||||||||
4400/OC-JA - SECURITY STRENGTHENING PROJECT | US | 12,882,721.50 | 1,994,034,011.57 | |||||||||
4437/OC-JA - IMPLEMENTATION OF THE NATIONAL IDENTIFICATION SYSTEM (NIDS)FOR ECONOMIC GROWTH | US | 36,918,880.30 | 5,714,437,200.80 | |||||||||
4645/OC-JA- SKILLS DEVELOPMENT GLOBAL SKILLS IN JAMAICA | US | 13,901,820.00 | 2,151,773,746.15 | |||||||||
4668/OC-JA- SUPPORT FOR THE HEALTH SYSTEMS STRENGTHENING FOR THE PREVENTION AND CARE MANAGEMENT FOR NON- COMMUNICABLE DISEASES PROGRAMME | US | 13,488,843.10 | 2,087,851,694.85 | |||||||||
4669/OC-JA - SUPPORT FOR THE HEALTH SYSTEMS STRENGTHENING FOR THE PREVENTION AND CARE MANAGEMENT FOR NON-COMMUNICABLE DISEASES PROGRAMME | JMD | 7,412,347,500.00 | 7,412,347,500.00 | |||||||||
4860-JM – BOOSTING INNOVATION, GROWTH, AND ENTREPRENEUSHIP ECOSYSTEM PROGRAMME | US | 11,035,854.80 | 1,708,169,335.02 | |||||||||
5110/OC-JA SUPPORT FOR THE HEALTH SYSTEMS STRENGTHENING FOR THE PREVENTION AND CARE MANAGEMENT FOR NON-COMMUNICABLE DISEASES | US | 100,000,000.00 | 15,478,360,000.00 | |||||||||
5236/OC-JA- STRENGTHENING FISCAL POLICY AND MANAGEMENT PROGRAMME TO RESPOND TO THE HEALTH CRISIS AND ECONOMIC EFFECTS OF COVID-19 IN JAMAICA | US | 75,000,000.00 | 11,608,770,000.00 | |||||||||
5499/OC-JA- STRENGTHENING FISACAL POLICY AND MANAGEMENT PROGRAMME TO RESPOND TO THE HEALTH CRISIS AND ECONOMIC EFECTS OF COVID-19 IN JAMAICA II (POLICY BASED LOAN) | US | 100,000,000.00 | 15,478,360,000.00 | |||||||||
|
| |||||||||||
TOTAL - INTER-AMERICAN DEVELOPMENT BANK | 230,788,183,377.21 | |||||||||||
|
|
50
Notes to the Financial Statements (Cont’d)
EXTERNAL DEBT | CURRENCY | BALANCE OUTSTANDING | JA$ EQUIVALENT | |||||||||
CARIBBEAN DEVELOPMENT BANK | ||||||||||||
08/SFR-JAM - RURAL ELECTRIFICATION | US | 179,784.50 | 27,827,692.13 | |||||||||
10/SFR-OR-JAM - SOCIAL INVESTMENT FUND | US | 2,364,187.50 | 365,937,452.33 | |||||||||
13/SFR OR JAM - ENHANCEMENT OF BASIC SCHOOL | US | 1,579,254.20 | 244,442,650.39 | |||||||||
15/SFR-OR-JAM - REHAB. OF FLOOD DAMAGE | US | 66,667.00 | 10,318,958.26 | |||||||||
16/SFR-OR-JAM - WASHINGTON BOULEVARD IMPROVEMENT | US | 5,456,739.50 | 844,613,784.07 | |||||||||
17/SFR-OR -JAM - HURRICANE DEAN REHAB WORKS | US | 3,993,751.50 | 618,167,234.68 | |||||||||
17/SFR-OR -JAM 1 - HURRICANE DEAN REHAB WORKS | US | 2,760,084.00 | 427,215,737.82 | |||||||||
18/SFR-OR-JAM - UTECH ENHANCEMENT PROJECT | US | 7,744,182.90 | 1,198,672,508.32 | |||||||||
19/SFR-JAM COMMUNITY INVESTMENT PROJECT | US | 7,588,244.30 | 1,174,535,770.43 | |||||||||
19/SFR-OR-JAM - POLICY BASED LOAN | US | 37,166,666.50 | 5,752,790,440.87 | |||||||||
20/SFR-JM- AGRICULTURAL SUPPORT | US | 6,045,000.00 | 935,666,862.00 | |||||||||
20/SFR-OR-JAM- NATURAL DISASTER GUSTAV MANAGEMENT | US | 16,880,633.40 | 2,612,845,207.93 | |||||||||
23/SFR-OR JAM- FISCAL CONSOLIDATION, GROWTH AND SOCIAL STABILITY LOAN | US | 25,437,500.00 | 3,937,307,825.00 | |||||||||
28/OR-JAM- COASTAL HIGHWAY IMPROVEMENT #4 | US | 12,711,108.80 | 1,967,471,180.06 | |||||||||
|
| |||||||||||
TOTAL - CARIBBEAN DEVELOPMENT BANK | 20,117,813,304.29 | |||||||||||
|
| |||||||||||
INT’L BANK FOR RECONSTRUCTION & DEVELOPMENT | ||||||||||||
4878-JM HURRICANE DEAN EMERGENCY RECOVERY | US | 866,865.70 | 134,176,593.76 | |||||||||
7554-JM EARLY CHILDHOOD DEVELOPMENT PROJECT | US | 8,709,893.50 | 1,348,148,671.55 | |||||||||
7555-JM SOCIAL PROTECTION PROJECT | US | 23,244,480.90 | 3,597,864,433.83 | |||||||||
7556-JM SECOND HIV/AIDS PROJECT | US | 5,612,307.80 | 868,693,205.59 | |||||||||
7653-JM FISCAL AND DEBT SUSTAINABLILITY DEV POLICY | US | 58,000,000.00 | 8,977,448,800.00 | |||||||||
7769-JM RURAL ECONOMIC DEVELOPMENT PROGRAM | US | 9,524,054.00 | 1,474,167,364.71 | |||||||||
7856-JM FIRST PROGRAM FISCAL SUST. DEVELOP. POLICY LOAN | US | 130,640,000.00 | 20,220,929,504.00 | |||||||||
7815-JM EDUCATION TRANSFORMATION CAPACITY BLDG. PROJECT | US | 11,626,701.40 | 1,799,622,698.82 |
51
Notes to the Financial Statements (Cont’d)
EXTERNAL DEBT | CURRENCY | BALANCE OUTSTANDING | JA$ EQUIVALENT | |||||||||
8007-JM ENERGY SECURITY & EFFICIENCY ENHANCEMENT PROJECT | US | 10,085,445.90 | 1,561,061,624.01 | |||||||||
8084-JM 2ND PROGRAMATIC FISCAL SUSTAINABILITY DEVELOPMENT | US | 58,000,000.00 | 8,977,448,800.00 | |||||||||
8317-JM ECONOMIC STABILITY AND FOUNDATION FOR GROWTH DEVELOPMENT | US | 107,848,000.00 | 16,693,101,692.80 | |||||||||
8329 ADDITIONAL FINANCING FOR SOCIAL PROTECTION PROGRAMME | US | 33,183,999.80 | 5,136,338,951.44 | |||||||||
8334-JM JAMAICA EARLY CHILDHOOD DEVELOPMENT PROJECT | US | 9,572,962.20 | 1,481,737,551.98 | |||||||||
8356-JM JAMAICA INTEGRATED COMMUNITY DEVELOPMENT PROJECT | US | 34,056,966.80 | 5,271,459,926.38 | |||||||||
8405-JM JAMAICA YOUTH EMPLOYMENT IN DIGITAL AND ANIMATION INDUSTRIES | US | 9,727,902.70 | 1,505,719,800.36 | |||||||||
8406-JM JAMAICA STRATEGIC PUBLIC SECTOR TRANSFORMATION | US | 29,038,416.30 | 4,494,670,613.21 | |||||||||
8408-JM FOUNDATIONS FOR COMPETITIVENESS AND GROWTH PROJECT | US | 41,334,739.80 | 6,397,939,831.31 | |||||||||
8470-JM FIRST COMPETITIVENESS & FISCAL MANAGEMENT PROGAMMATIC DPL | US | 70,507,500.00 | 10,913,404,677.00 | |||||||||
8759- JM SECOND COMPETITIVENESS & FISCAL MANAGEMENT PROGAMMATIC DPF | US | 64,750,000.00 | 10,022,238,100.00 | |||||||||
8581- JM JAMAICA DISASTER VULNERABILITY REDUCTION PROJECT | US | 26,705,970.60 | 4,133,646,270.96 | |||||||||
8822-JM ACCESS TO FINANCE FOR MICRO, SMALL AND MEDIUM ENTERPRISE PROJECT | US | 9,859,821.90 | 1,526,138,729.04 | |||||||||
9017- JM SECOND RURAL ECONOMIC DEVELOPMENT INITIATIVE | US | 7,251,255.80 | 1,122,375,477.24 | |||||||||
9053-JM JAMAICA FIRST ECONOMIC RESILIENCE | US | 70,000,000.00 | 10,834,852,000.00 | |||||||||
9216-JM JAMAICA COVID-19 RESPONSE AND RECOVERY DEVELOPMENT POLICY FINANCING | US | 150,000,000.00 | 23,217,540,000.00 | |||||||||
9203-JM ADDITIONAL FINANCING FOR THE FOUNDATION FOR COMPETITIVENESS AND GROWTH PROJECT | US | 5,259,811.00 | 814,132,481.90 | |||||||||
9658-JM JAMAICA EDUCATION PROJECT | US | 75,000.00 | 11,608,770.00 | |||||||||
|
| |||||||||||
TOTAL - INT’L BANK FOR RECONSTRUCTION & DEV. | 152,536,466,569.89 | |||||||||||
|
| |||||||||||
OPEC FUND FOR INT’L DEVELOPMENT | ||||||||||||
1007-P NATIONAL COMMUNITY DEV. PROJECT | US | 333,520.00 | 51,623,426.27 | |||||||||
1152-P RURAL ROAD REHABILITATION PHASE 2 | US | 275,977.00 | 42,716,713.58 | |||||||||
1238-P BOGUE ROAD IMPROVEMENT PROJECT | US | 5,986,137.60 | 926,555,927.82 | |||||||||
|
| |||||||||||
TOTAL - OPEC FUND FOR INT’L DEVELOPMENT | 1,020,896,067.67 | |||||||||||
|
|
52
Notes to the Financial Statements (Cont’d)
EXTERNAL DEBT | CURRENCY | BALANCE OUTSTANDING | JA$ EQUIVALENT | |||||||||
EUROPEAN ECONOMIC COMMUNITY COMMISSION | ||||||||||||
LN #8.0163 RURAL ELECTRIFICATION | EURO | 48,452.70 | 8,199,543.83 | |||||||||
LN #8.0223 EXPAND COFFEE PRODUCTION | EURO | 179,587.00 | 30,391,112.92 | |||||||||
LN #8.0347 SANGSTERS AIRPORT MAIN TERMINAL | EURO | 1,979,480.00 | 334,983,045.54 | |||||||||
LN #8.0371 CAST & CTC STUDENT ACCOMMODATION | EURO | 418,132.30 | 70,759,609.24 | |||||||||
LN #8.0383 NEGRIL OCHO-RIOS WASTE WATER PROJECT | EURO | 9,546,944.50 | 1,615,608,414.46 | |||||||||
LN #8.0388 CREDIT SCH. FOR MICRO & SMALL ENTERPRISES | EURO | 2,239,918.90 | 379,056,547.63 | |||||||||
LN #8.0395 MORANT/YALLAHS AGRICULTURAL DEV. PROJ. | EURO | 599,769.90 | 101,497,740.68 | |||||||||
|
| |||||||||||
TOTAL-EUROPEAN ECONOMIC COMMUNITY COMMISSION | 2,540,496,014.30 | |||||||||||
|
| |||||||||||
NORDIC DEVELOPMENT FUND | ||||||||||||
NDF #81 PRIMARY EDUCATION IMPROVEMENT PROG. | XDR | 720,000.00 | 147,488,452.42 | |||||||||
NDF #120 MULTI-SECTORAL PRE-INVESTMENT PROJECT | XDR | 772,842.40 | 158,312,957.70 | |||||||||
NDF #165 AIRPORT REFORM & IMPROVEMENT PROGRAM | XDR | 1,080,000.00 | 221,232,678.63 | |||||||||
|
| |||||||||||
TOTAL - NORDIC DEVELOPMENT FUND | 527,034,088.75 | |||||||||||
|
| |||||||||||
INTERNATIONAL MONETARY FUND | ||||||||||||
BUDGETARY SUPPORT TO THE GOVERNMENT OF JAMAICA | XDR | 7,658,340.70 | 1,568,773,358.28 | |||||||||
BUDGETARY SUPPORT TO THE GOVERNMENT OF JAMAICA-RFI | XDR | 239,312,500.00 | 49,021,986,486.47 | |||||||||
BUDGETARY SUPPORT TO THE GOVERNMENT OF JAMAICA-RSF | XDR | 382,900,000.00 | 78,435,178,378.35 | |||||||||
|
| |||||||||||
TOTAL - INTERNATIONAL MONETARY FUND | 129,025,938,223.10 | |||||||||||
|
| |||||||||||
TOTAL INTERNATIONAL & MULTINATIONAL INSTITUTIONS | 536,556,827,645.21 | |||||||||||
|
| |||||||||||
TOTAL EXTERNAL DEBT | 1,397,378,565,916.96 | |||||||||||
|
| |||||||||||
GRAND TOTAL FOREIGN & LOCAL | 2,228,874,700,238.43 | |||||||||||
|
|
Source: Debt Management Branch, Ministry of Finance and the Public Service
53