Скачать или смотреть Mek Wi Talk Fayval Williams, Minister of Finance tabled a $1.4 trillion (JMD) budget for 2026/2027

Mek Wi Talk Fayval Williams, the Minister of Finance tabled a $1.4 trillion (JMD) budget for the 2026/2027

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Finance Minister Fayval Williams tabled a $1.4 trillion (JMD) budget for the 2026/2027 fiscal year in February 2026, featuring ~JMD 29.4 billion in new taxes to fund recovery efforts from Hurricane Melissa. The budget, set for debate starting March 10, 2026, focuses on rebuilding, strengthening public finances, and includes increased taxes on alcohol, cigarettes, and digital services.
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Key details of the 2026/2027 Budget include:
Total Expenditure: $1.4 trillion, with $1.342 trillion for recurrent expenses and $99.7 billion for capital projects.
New Tax Measures: Projected to generate $29.4 billion, including a Special Consumption Tax on sugary drinks, increased levies on alcohol/tobacco, and a GCT extension to overseas digital services.
Key Allocations: The Ministry of Finance and the Public Service received the largest allocation ($567 billion), with significant funding for debt obligations.
Economic Context: The measures are designed to address substantial damages caused by Hurricane Melissa, estimated at 8.8 billion US dollars.
Social Impact: The personal income tax threshold will increase to $1.9 million effective April 1, 2026


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