KINGSTON, Jamaica (JIS) —  Finance and the Public Service Minister, Dr Nigel Clarke, continues to emphasise that the country’s macroeconomic achievements must translate into more meaningful gains for all Jamaicans.

Speaking at the recent National Financial Inclusion Strategy (NFIS) forum, held at the Terra Nova All-Suite Hotel in St Andrew, Dr Clarke acknowledged that this translation is manifesting in several areas.

These, he pointed out, include increased employment, which has risen to more than 1.3 million people, and a commensurate reduction in unemployment, which fell to a 10-year low of 9.6 per cent in January; low inflation, which came in at a 12-month out-turn of 2.8 per cent at the end of June, below the four to six per cent projection; and debt reduction, which has fallen from close to 140 per cent of gross domestic product, and which he said is likely to fall below 100 per cent in 2019. 

However, Dr Clarke said there is need for more than that, pointing out that the Government wants all Jamaicans to be able to participate in the “sowing, nurturing and reaping of the fruits of our economy”.

“It’s about (ensuring that) as we maintain fiscal prudence and we benefit from that and our debt is reduced, that these gains are felt by all people in Jamaica and by all businesses. That is the task and the work of this (National Financial Inclusion) Council,” the minister said.

In this regard, he assured that the Government will continue to strengthen the institutional framework needed to underpin financial development and entrenched stability.

Meanwhile, Dr Clarke underscored the private sector’s role in the Government’s implementation of the NFIS.