Government to undertake $60 billion economic recovery, vaccination programme

The government is to undertake a $60 billion programme to help boost the economy as well as the health sector, including pursuing a COVID-19 vaccination initiative. 

The initiative is called the Social and Economic Recovery and Vaccine (SERVE) Programme for Jamaica. 

One component will address health needs and the other will focus on economic activity. 

In making the announcement, Finance Minister, Dr Nigel Clarke, stated that the programme will be funded, in part, by a one-off dividend of $33 billion from the Bank of Jamaica. 

Health component  

•$10.5 billion in special resources for the Ministry of Health and Wellness including:  

> $6 billion for vaccines 

> $1 billion for personal protective equipment  

> $1 billion for drugs and reagents 

> $2 billion for regional health authorities and  

>$500 million for additional COVID-19-related expenditure – extra cleaning, catering and security.  

Clarke noted that the government is making provisions to be able to finance the procurement of, and completion of the coronavirus vaccination of two million Jamaicans. 

The government is seeking to procure 3.5 million doses of COVID-19 vaccines.

Previously, the Government had announced plans to get between 146,400 and 249,600 doses of vaccine that would inoculate some 440,000 Jamaicans by the end of the year.

He explained that the government will allocate the funds under the SERVE Jamaica programme, to make the attainment of herd immunity in a single fiscal year fiscally feasible.  

The rest is up to the availability of supply, the logistics and distribution all of which the Minister of Health will soon address, he noted. 

Economic component 

The government is to implement a $31.1 billion infrastructure programme which will consist of: 

*$17.7 billion South Coast Highway.  

*$8 billion special public investment infrastructure programme to improve productivity and increase resilience with the installation of drains, widening and dualisation of major thoroughfares, construction of sidewalks etc. This is captured in the Contingency Provision for the Public Investment Management System 

*$3.7 billion in secondary roads, repairing roads across Jamaica.. 

*$1.2 billion for the Montego Bay Bypass.  

*$0.5 billion for construction of new police divisional headquarters in Westmoreland and new forensic pathology suite. 

Additionally, the government will be spending:  

•$5 billion in targeted financing for businesses affected by the pandemic.  

•$1.7 billion for rural farm roads and productivity incentives to boost agriculture.  

•$1.8 billion to expand Wi-Fi and broadband in schools and communities, in particular in rural areas.  

•$8.1 billion in targeted social support above and beyond what is usually provided, which will be targeted to the vulnerable and those who have fallen on hard times as a result of the COVID-19 pandemic. $6 billion of this amount is captured under the Ministry of Finance and Public Service.  

•$0.7 billion to the Urban Development Corporation to complete construction of close Harbour beach park and other activities  

•$0.8 billion to other  ministries, departments and agencies (MDAs)

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