Jamaica Misses Revenue Target by US$197 Million
Jamaica's revenue and grants came in about US$197 million below budget in April to August, and the government responded by spending less than planned. The post Jamaica Misses Revenue Target by US$197 Million appeared first on The Rio Times .
Jamaica's government collected $197 million less in revenue and grants than anticipated for the first five months of its fiscal year, covering April to August 2026. The Ministry of Finance and the Public Service reported these figures. The shortfall primarily stems from a decline in non-tax revenue, which dropped to $157 million, compared to $575 million in the same period last year.
Corporate income tax collected was $287 million, below the $372 million target. The government's spending was $217 million below budget, with capital spending $29 million lower than planned. Interest payments alone amounted to $471 million. As a result, the government faces a fiscal deficit of $367 million for the period, slightly narrower than the $112 million deficit budgeted.
The primary surplus, which reduces debt, has also shrunk but remains positive at $104 million. The weaker revenue is attributed to the economic downturn impacting consumer demand and corporate profits. The government is offsetting the shortfall by reducing spending. The situation could lead to a supplementary budget or new tax measures before the fiscal year ends in March 2027.
Written by urgent.news from The Rio Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
