The Government of Jamaica has released final financial statements for the last fiscal year, which show its collection of General Consumption Tax (GCT) fell below target.
GCT collection in the year was 5 per cent below target. Total collections amounted to J$125 billion.
The target was set at J$132 billion.
IMF
The data also show that the International Monetary Fund (IMF) was the single largest source of loan funds for the Jamaican Government.
Total loans from the IMF in the last fiscal year was more than $15 billion. That outstripped World Bank loans which amounted to $11 billion over the same period.
The Inter American Development Bank and Caribbean Development Bank loaned the country $4 billion each over the period.
The Inter American Development Bank and Caribbean Development Bank loaned the country $4 billion each over the period.
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