Finance Minister Fayval Williams
Finance Minister Fayval Williams says the Government of Jamaica has now spent $66.8 billion on pre and post Hurricane Melissa response initiatives, including the $24 billion loan to the Jamaica Public Service Company.
The Finance Minister, speaking in Parliament during the presentation of the fourth supplementary estimates on Tuesday, noted that another $14.36 billion will be added to this year's budget.
She said that $13.6 billion of this amount was approved by the Cabinet after the preparation approval of the third supplementary estimates in December of last year.
The addition also accounts for $960 million, which is an initial payment to TransAmerica Fiber Systems.
This amount will become due upon the signing of a letter of intent between the company and the government to pursue the provision of additional sub-sea fibre capacity.
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