Gov't borrowing less money than projected

The Government of Jamaica has been borrowing less money than it said it would.

Total borrowings from the April to November period of the current fiscal year were $2.5 billion below target since $58 billion was borrowed in the period and not the $60.6 billion the Government had indicated it needed to borrow.

More from income tax

In the meantime, the Government has indicated that even with the increase in the income tax threshold, it is collecting more from personal income tax than was expected.
The Government hiked the income tax threshold to more than $1 million in July and said it expected inflows from those who were still paying the tax to amount to $40 billion.
It however said the actual inflow has so far amounted to almost $43 billion.
By comparison, in the previous fiscal year, the inflow from personal income tax between April and November was $46 billion.

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