Receive up-to-the-minute news updates on the hottest topics with NewsHub. Install now.

Capital expenditure 5% ahead of target, finance minister discloses

September 9, 2018 4:33 AM
12 0
Capital expenditure 5% ahead of target, finance minister discloses

Finance Minister Dr Nigel Clarke has disclosed that the Government has so far exceeded its capital expenditure budget by five per cent.

The capital budget is the money set aside for new projects like roads, schools, and hospitals.

According to Clarke, up to recently, governments would hold back on capital expenditure because they were not sure about the prospects.

“But this year for the first time in a long time, for the first four months in this year we are actually ahead of budget as far as capital expenditure is concerned,” said the finance and public service minister.

The Government has budgeted some $60 billion to fund capital projects this year.

Clarke has cited projects such as Barbican Square, Hagley Park Road and Mandela Highway as some of the major capital expenditure.

Source: jamaica-gleaner.com

Share in social networks:

Comments - 0