PM credits prudent fiscal management for economic recovery
Prime Minister, the Most Hon. Andrew Holness, addresses the opening of the Sandals Dunn’s River Hotel in Mammee Bay, St Ann, on May 19. Photo: JIS

ST JAMES, Jamaica - Prime Minister Andrew Holness, has credited the economy’s quick recovery and return to pre-COVID-19 growth levels to the Government’s prudent fiscal management.

He noted that unemployment has dropped to six per cent, the lowest ever in Jamaica’s history, to the point where the country is practically approaching full employment.

“The fiscal management has been such that the tourism sector now complains regularly that it cannot find people,” the prime minister pointed out, noting that this is also the case in the construction sector.

“We have endured the worst global health crisis in 100 years, and we have come out of that without a debt crisis, without a balance of payment crisis, and without a foreign exchange crisis. We have come out of this having been globally acknowledged as the star performer in terms of a small island developing state,” he said.

The prime ninister, who was speaking at the official opening of the Sandals Dunn’s River Hotel in Mammee Bay, St Ann, on May 19, said with the fiscal side under control, the Government is focused on achieving consistently high levels of growth.

He said the tourism sector has an important role to play in Jamaica’s growth trajectory, noting that the Government will be doing everything in its power to create the kind of environment that is conducive to investment.

He added that emphasis is being placed on developing the skills to support the growing interest for investment in Jamaica.

“So, in the coming days, we will be making certain announcements as to how we intend to improve the Jamaican workforce to be aligned with the demands of industries and the new demands of investments to ensure that this country achieves the high levels of robust growth that is necessary to fulfil the dreams and aspirations of the Jamaican people,” the prime minister said.


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