KINGSTON, Jamaica – Jamaica's Prime Minister Andrew Holness has given his government’s commitment to bridge the socio-economic divide in the country and would make sure that the gains from economic success are shared more equitably across all communities.
Andrew Holness, Prime Minister of JamaicaAddressing the St James Northwest constituency dinner at Sandals Montego Bay on Saturday night, Holness told patrons that government was working to ensure Jamaicans felt the benefits of what he has dubbed sound policies and fiscal management’, which have caused the economy to flourish.
“Now, we must get the machinery of government to take the dividends of the economic improvements that we have and translate this into the services, goods and amenities that will improve the quality of life of the people of Jamaica, so that they can make the connection between the good economy and their social well-being,” he said.
Holness pointed to the current stability of the exchange rate, even amid the challenges posed by the COVID-19 pandemic, as a testament to the strength of the economy.
He said the prudent fiscal and monetary policies have resulted in a significant reduction in national debt, substantial increases in reserves, and notable progress in managing inflation levels.
“Our reserves are the highest they have ever been. Inflation is coming down nicely back into our target zone,” Holness noted adding “We have done that while at the same time, making the largest increase in minimum wages ever and making the largest increases in public sector wages ever,” he added.
He further cited the “record-setting increases in the minimum wage and public sector wages,” as a demonstration of the government’s unwavering commitment to the welfare of the people.
Underscoring the vital interconnection between economic stability and social welfare, Holness stressed that a thriving economy is critical to facilitating essential services and infrastructure improvements.
“We can’t buy new buses unless we have a good economy. We can’t buy new garbage trucks unless we have a good economy. Jamaica cannot have a welfare state unless it has a good economy,” he pointed out.
He said that everything must be done to safeguard the strong economic progress, which he contended, has become a new feature of Brand Jamaica.
“We have an economy that is doing very well. Whenever I travel… you know what people know about Jamaica? They know about Usain Bolt, Bob Marley, Marcus Garvey and about our culture. But you know what else is emerging as part of Brand Jamaica? Our economic performance and we have to guard that carefully,” he said.
