Economic Growth Council to Provide Quarterly Updates

Chairman of the Economic Growth Council (EGC), Michael Lee-Chin, says the Council plans to provide quarterly updates to the nation on the progress of each of the eight growth initiatives outlined to the Cabinet.

In a recent Jamaica Information Service (JIS) television ‘Issues and Answers’ interview, Mr. Lee-Chin said this will be done to ensure transparency of the Council.

“We’ll be going on national television and giving a report… as to where we stand with the milestones, whether we have achieved them or not and why we have not achieved them,” he said.

He indicated that decisions are being made to ensure that the EGC fulfils the mandate given by Prime Minister, the Most Hon. Andrew Holness, and that it will not be “business as usual”.

To ensure fulfilment of the mandate, the Chairman said a lot of vigilance and commitment will be invested in the process.

Mr. Lee-Chin said members of the EGC, as well as other stakeholders, including the Parliamentary Opposition, have bought into the task ahead for Jamaica to achieve higher levels of growth.

This buy-in, he noted, will create an effective social partnership, which is a critical point in any nation’s progress.

Mr. Lee-Chin emphasised that the Government is fully committed to economic growth of five per cent in four years and is determined to achieve this.

The Council, appointed by the Prime Minister, updated Cabinet last month on its work to date and reported on a collection of broad platform policies that would facilitate economic growth.

The eight growth initiatives outlined to the Cabinet are intended to facilitate the removal of obstacles to economic growth, impacting thousands of businesses and Jamaicans.

They include the maintenance of macroeconomic stability and the pursuit of debt-reduction strategies, improving citizen security, improving access to finance, pursuing bureaucratic reforms to improve the business environment and to stimulate greater asset utilisation.

Added to these are building up human capital; harnessing the power of the diaspora; and catalysing the implementation of strategic projects.