Government proposing to spend $1.4 trillion next financial year

The Government has proposed a Budget of $1.4 trillion for fiscal year 2026/27, of which $99.7 billion has been allocated to capital projects while $1.342 trillion will cover recurrent (housekeeping) expenses.

Details of the projections are outlined in the 2026/27 Estimates of Expenditure, which was tabled in the House of Representatives on Thursday by Minister of Finance and the Public Service.

The Ministry of Finance and the Public Service has received the largest allocation, totalling $567 billion. A significant portion of this funding will be directed towards meeting Jamaica’s debt obligations.

Large allocations have also been made to several other ministries. The Ministry of Education, Skills, Youth and Information has received a recurrent budget of $199.34 billion, along with $3.4 billion in capital expenditure.

The Ministry of Health and Wellness has been allocated $187.3 billion for recurrent expenses and $13.82 billion for capital expenditure.

Meanwhile, the Ministry of National Security and Peace has received $123.9 billion for recurrent expenditure and $2.6 billion for capital projects.

Further details on allocations under the 2026/27 fiscal year expenditure will be provided during Minister Williams’ Budget Presentation in March.

The Standing Finance Committee of the House of Representatives, a commitee comprising all MPs, is scheduled to meet at Gordon House from March 5 to 6 to review the Estimates.

The budget debate will follow.

- JIS News

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