The recently announced tax cuts by the Government of Jamaica have been applauded by the International Monetary Fund (IMF).
In commending the government’s effort, the IMF Mission Chief Dr. Uma Ramakrishnan said, “These tax cuts are feasible because of the expanded tax base that has been achieved through commendable efforts in both tax policy and tax revenue administration. Overall, these budget measures are expected to lower the cost of doing business, reduce informality and increase economic activity.”
She noted that all structural benchmarks under Jamaica’s stand-by agreement with the IMF were met during the last review period which ended in December 2018.
“Strong implementation of the reform program continues with the sustained commitment yielding tangible dividends for the people of Jamaica. Again, the minister listed some of the major achievements on employment inflation and the international reserves are adequate, the economy is growing and so we see a lot of positive dividends coming from these economic reforms,” she said.
Pollyanna Davy, Readers Bureau, Fellow
Edited by Jesus Chan
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