Reform the budget process

Reform thebudget process

The following is taken from the Private Sector Organisation of Jamaica's Economic Policy Framework

Jamaica's current budgetary process is unilaterally dominated by the Ministry of Finance with limited inputs from the private sector and other stakeholders. Further, it is narrowly focused on the upcoming fiscal year with limited connections to the country's medium- and long-term development programmes. Accordingly, we suggest:

Coordinate budgeting across the public sector and continue to present consolidated budgets that include the statutory bodies, as done last year.

Consult with the private sector early and throughout the various stages of budget preparation.

Construct multi-year budgets linked to the country's medium- and long-term development objectives.