- The House of Representatives has approved the first supplementary estimates of expenditure for the 2025/26 fiscal year. The Estimates have now moved from $1.26Tn to $1.27Tn.
- In her remarks, Minister of Finance and the Public Service (MFPS), Hon. Fayval Williams, said the estimates will facilitate the allocation of $58.1Bn to ministries, departments, and agencies (MDAs).
- She informed that of this sum, $55.6Bn is earmarked to cover additional salaries and allowances arising from agreements between the Government and public-sector unions and staff associations during fiscal year 2024/25. “This supplementary also takes into consideration the $1.1Bn for the three per cent subsidy on residential electricity usage as expenditure in the central government expenditure budget, and $1.4Bn for the acquisition of 110 buses for the rural school bus service,” the Minister stated.
- Additionally, she said it “facilitates the transfer of $35.3Bn from the contingencies allocation under the Head 200001, MFPS, to assist in financing the additional expenditure of the MDAs. It will also assist with the reprioritisation of expenditure totalling $12.3Bn within the 2025/26 approved Budget to assist in financing the additional spending of the MDAs”.
- Mrs. Williams stated that approximately $48.1Bn of the committed funds fall under the ‘compensation of employees’ category. This category includes $23.6Bn allocated for advancement along substantive salary bands for eligible central government employees, effective April 1, 2025, in accordance with the agreement reached with the Jamaica Confederation of Trade Unions (JCTU).
- She further highlighted that while those are some major numbers, there will be a redirection of funds to continue to have a balanced budget for this supplementary.
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[1]A Budget Category Under the Ministry of Finance and the Public Service.