The Economic Programme Oversight Committee, EPOC wants the Jamaican Government to stay focused on plans for the implementation of national identification system NIDS, inflation targeting and foreign exchange hedging.
The recommendations come as Jamaica sets to close its latest three-year programme with the International Monetary Fund by year end.
“All the structural benchmarks have been met,” said EPOC Co-Chairman Keith Duncan at his quarterly briefing on the fiscal results. The committee comprises a mix of private- and public-sector representatives.
Jamaica’s revenues and grants totalled $629 billion for the fiscal year ending March 2019, which surpassed targets by 0.2 per cent, while tax collections of $543 billion grew by 9.3 per cent year-on-year. Expenditures were below budget by $13.3 billion, which allowed for the capital budget to grow 41 per cent to $66.2 billion.
Jamaica also closed the year with a fiscal surplus of $24 billion.
Duncan said that there is broad consensus around the implementation of NIDS, saying that notwithstanding the legal challenges faced by the law, the country would benefit from the system.