Fiscal Commissioner Describes Holness Government’s Budget As Credible

Fiscal Commissioner, Courtney Williams, has assessed the Holness government’s budget as credible and achievable.

He gave his assessment of the budget during his inaugural media briefing at the Pegasus Hotel in St. Andrew on Monday.

But he notes that while the budget is in line with the country’s macroeconomic indicators, concern still remains about outstanding fiscal reform recommendations.

Chevon Campbell tells us more.

It’s a credible budget!

Fiscal Commissioner, Courtney Williams, says the government’s spending plans for 2025-2026 remain within fiscal rules.

The Independent Fiscal Commission, which began its operations in January, is the successor to the Economic Programme Oversight Committee.

Its job is to ensure the government does not deviate from the country’s hard-won macroeconomic stability.

Mr. Williams says this should not be taken for granted.

However, he warns that some longstanding shortcomings remain in how the country approaches the budgeting cycle.

These include the absence of the presentation of the fiscal balance for the Specified Public Sector and the absence of established compensation negotiation cycles that align with the budgetary cycle.

As part of his budget debate presentation, Opposition Spokesman, Julian Robinson, sounded the alarm regarding the country’s rising debt.

But, the Fiscal Commissioner disagrees. He says the dollar value of the debt is not an issue.

According to Mr. Williams, the increase in debt is being outpaced by the country’s growth in GDP and remains sustainable.

The country remains on track to reduce its debt to 60 percent of GDP by 2027.