Prime Minister Holness Commits to More Economic Resilience and People-Centered Progress
“We are running the economy in such a way that we will care for the most vulnerable and the poor.”
-Prime Minister Holness
———————————————————————————
Poor economic management, a soaring inflation rate that reached 77%, government borrowing at high interest rates crowding out businesses, low growth, and the devastating FINSAC crisis that wiped out the business class in Jamaica; this was the condition of Jamaica under previous administrations.
Prime Minister Holness urges that Jamaica must never go down that road again as he commits to a caring economy that looks after the poor and most vulnerable.
In assuring Jamaicans that the government is listening and responding to their needs, Prime Minister Holness said only a strong economy, which this administration is building, can deliver for the Jamaican people, and they must protect it.
While acknowledging the real concerns raised by Jamaicans, who have been suffering for 50 years, the Prime Minister says the government has started to improve Jamaican lives and will be doing even more to meet their needs.
In looking at what more needs to be done so Jamaicans can feel greater improvements in their lives, the Prime Minister highlighted that no other government has been able to create the fiscal space necessary to put more money into the hands of public sector workers, minimum wage earners, pension recipients, and COVID cash grant recipients.
The Prime Minister, in seeking to educate Jamaicans to think wisely about the economy of the country, says, “Every dollar we make as a country must come from growth; if it doesn’t come from growth, it must come from borrowing, and if it comes from borrowing, it will result in new taxes on you.”
The Prime Minister said further, “I know many Jamaicans are frustrated; you might not be able to see the big picture right now—the real change taking place in our society—but I am here to tell you that your country is getting better, and the results will come.”
In the meantime, the Prime Minister pointed to the role of increased public sector efficiency in driving Jamaica’s economy. He expressed confidence in their ability to drive positive change through swift and efficient actions to enhance productivity.
Prime Minister Holness was speaking on March 6 at the Amber UTECH Launchpad.