Auditor General’s Validation for the Suspension of the Fiscal Rules

On May 13, 2020, the Minister responsible for Finance announced in the House of Representatives, his intent to move for a suspension of the fiscal rules promulgated in February 2010 and amended in 2014 and 2015, owing to the COVID-19 Pandemic. Subsequently, the Auditor General received a submission from the Planning Institute of Jamaica, which sets out the projections for economic performance for the period FY2019/20 to FY2023/24. The Auditor General has reviewed the submission by the Planning Institute of Jamaica as required by the Financial Administration and Audit (FAA) Act as well as, supporting information from the Ministry of Finance related to the Minister’s request for the suspension of the Fiscal Rules.