Jamaica’s Resilient Economy Driven by Investment and Prudent Governance – Prime Minister Holness

Prime Minister, Dr. the Most Hon. Andrew Holness, has praised Jamaica’s resilient and thriving economy, attributing the nation’s progress to disciplined fiscal management and prudent governance.

Speaking during Friday’s (July 4) groundbreaking ceremony for the multibillion Western Resilience Water Project in Davis Pen, Trelawny, he emphasised that these economic gains are laying the groundwork for expansive infrastructural development across the island—including vital roadworks and water supply initiatives

“Our economy is strong because we have managed our finances responsibly. We have not had to resort to reckless borrowing, and that discipline has allowed us to invest heavily in the development of our country,” Dr. Holness stated.

The Prime Minister drew a compelling analogy, likening Jamaica’s current economic trajectory to Guyana’s transformative oil discovery.

“Just as Guyana’s oil discovery has unlocked unprecedented opportunities, Jamaica’s macroeconomic stability is positioning us to realise our full potential. We are entering a period of major infrastructural development that will benefit generations to come,” he stated.

Dr. Holness highlighted key accomplishments of the Administration, including record-low unemployment, increased foreign direct investment, and notable advancements in social programmes.

“These achievements are not isolated, they are interconnected. The stability of our economy creates the fiscal space needed to fund vital infrastructure, health, and education projects that directly impact the lives of our citizens,” he declared.

However, the Prime Minister acknowledged that despite the Administration’s achievements, some Jamaicans feel disconnected from these gains—particularly in relation to immediate bread-and-butter concerns.

“I understand that many are still struggling with day-to-day challenges. But I want to remind everyone that lasting progress begins with a stable economy. Without sound fiscal management, social programmes and infrastructural projects cannot be sustained or expanded,” he said.

Dr. Holness emphasised that Jamaica’s economic resilience is anchored in robust foreign investments and strategic alliances, contributing to record-low unemployment and rising income levels across the nation.

“When businesses thrive, so do the people. Our economic successes are being reinvested into Jamaica through initiatives like the Reverse Income Tax Credit, which provides direct financial assistance to those most in need,” he said.

Prime Minister Holness reaffirmed the Government’s commitment to ensuring that Jamaica’s macroeconomic gains yield tangible improvements in the lives of all citizens.

“Our goal is to build a Jamaica where economic progress uplifts every citizen. We are laying the groundwork for a resilient, prosperous nation — one where opportunity and development are accessible to all,” he stated

Dr. Holness further reaffirmed that infrastructural investments are not merely about physical development, but about safeguarding the future and improving the quality of life for all Jamaicans.

“This [Western Resilience Water Project], like many others, is a testament to our commitment to building a stronger, more resilient Jamaica,” he added.