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Fiscal responsibility takes priority
The Senate is now debating the proposed amendments to two key legislations to tighten the fiscal management in Jamaica.
The changes will impact the Financial Administration and Audit Act and the Public Bodies and Management Accountability Act.
The changes must be passed as part of the conditions under the agreement between the Government of Jamaica and the International Monetary Fund (IMF).
The bills have already been passed in the Lower House.
The Leader of Government business in the Senate, Dorothy Lightbourne says the Bills will mean more responsibility for the Government.
These include ensuring that the fiscal balance is reduced to zero by 2016.
Senator Lighthourne says under the proposed Acts the ratio of the public sector wage bill to the gross domestic product must also be reduced.
However, Senator Lightbourne says the mere passing of the bills will not guarantee better fiscal management. |