Simply put, the current operations of Government, in respect to how it manages money are no longer viable.
Our present system is characterized by -
Not knowing the quantum of monies available, or having access to the total amounts available in these accounts for utilization results in an in - efficient cash management programme, leading to unnecessary borrowing which burdens the budget, and reduces Government’s ability to spend for more productive purposes.
In early 2010, the Government through the JDX was able to reduce the burden that interest payments laid on the budget. The reprieve created through the support of Jamaicans across the length and breadth of the economic stratum, although contributing to the solution, requires sustained and supporting action.
The CTMS is a major change in fiscal management, that is aimed at supporting improved cash and fiscal management.