GG Says Economic Revitalisation will take Time


Governor-General, His Excellency the Most Hon. Sir Patrick Allen, has said that the process of transformation required to revitalise the Jamaican economy cannot be effected in any single budget year.
Rather, he contended that it must be pursued “diligently and steadfastly” so that as less of the country’s resources are required to meet government expenditure, more will be available for real investment in the real economy.
Delivering the Throne Speech at the 2010/11 State Opening of Parliament this morning (March 25), Sir Patrick said the transformation programme requires an understanding among all of the nation’s stakeholders, inclusive of communities “whose need for better roads and water supply cannot all be satisfied immediately”; public sector workers “whose demand for improvements in wages must be tempered by an appreciation of the country’s economic challenges”; and the general public “whose patience must be sought as we work to improve government services within the limits of the resources that are available.”
He noted that the programme has benefitted from collaboration among critical stakeholders from the private sector, trade unions and academia through the Partnership for Transformation, while the participation of the opposition has been encouraged.
Addressing the public sector transformation process, Sir Patrick said work in this area is “well advanced” and that the rollout of the necessary restructuring will commence during the 2010/11 fiscal year.
The objective of the undertaking, he pointed out, is to achieve a more efficient and cost effective, and less bureaucratic public service.
He noted however that while sound fiscal management is critical, it is not sufficient condition for growth to take place. “Growth can only come from new investment in new and existing enterprises,” Sir Patrick stated.

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