Gov't now living within its means, says Sloley
THE Government is ending the fiscal year "better than it started and better than some expected", Government Senator Noel Sloley is insisting.
Sloley, who was closing the State of the Nation Debate in the Upper House on Friday, said also that the Government had started the process of living within its means.
He said that the country was on target for a balanced budget next fiscal year, which will reduce the interest rate and infuse more confidence in the economy.
"We have completed the rebuilding of trust with our international lending agencies with the signing of a four-year Extended Fund Facility; we have stabilised the economy; we have started down the path of debt reduction; we have returned the country to a path of growth, we have passed all International Monetary Fund tests and we are commencing the process of living within our means," Senator Sloley told the Chamber.
He said that the improvement in the economy has seen a return of confidence to the private sector.
Adding that Jamaica's massive debt is on a downward trajectory, Sloley said the country is on a stronger and sounder footing, setting the stage for the economic recovery which will continue in the upcoming new fiscal year.