KINGSTON, Jamaica (JIS) – Economic Growth Council Chairman, Michel Lee-Chin, says a substantially sound macroeconomic foundation has been laid that can now propel Jamaica towards generating higher levels of growth.

“The table has been set,” he said, while presenting the EGC’s third quarter report at the Spanish Court Hotel in New Kingston on Thursday.

 Among the indicators, he said are a stable currency, historically low inflation, lower energy costs, strong net international reserves, heightened business and consumer confidence,  and multilateral agency support.

He noted that the administration is endeavouring to fulfil its role as an enabler and facilitator of an environment that is conducive to growth.

“(Once) the Government enables and facilitates, the private sector will deliver growth…that’s the partnership (that) we have,” the Chairman pointed out.

Lee-Chin said the EGC members were heartened by the positive feedback from a number of representatives of the over 155 stakeholder groups and organisations with whom the Council has had consultations over the last 15 months

 “We have set a goal of achieving five per cent growth (per annum) by 2020 (which) many have said (is) ambitious. But we are all agreed that for Jamaican to achieve its full potential, regionally and internationally, we must all stretch ourselves beyond our own expectations and chart a path to create wealth for Jamaica,”  Lee-Chin pointed out.    

“We realise that (many of) the stakeholders of Jamaica are ready for a change. They are most confident in what it is they see happening and they are pulling their weight as best as possible,” he added.