JIS News

Acting Director General, Planning Institute of Jamaica (PIOJ), Everton McFarlane, says the government remains committed to implementing strategies to ensure Gross Domestic Product (GDP) growth over the medium to long term.

Central to this growth strategy, he said, are fiscal consolidation, social stability, structural reforms, and strategic private/public investments.

Speaking at the PIOJ's quarterly media briefing at the agency's New Kingston offices on Thursday (February 21), Mr. McFarlane said within the context of the economic programme, currently being negotiated with the International Monetary Fund (IMF), the strategies indicated will have time bound benchmarks, which can be monitored and evaluated.

Mr. McFarlane noted that the new Medium Term Socio-Economic Framework (MTF) for 2012 to 2015, is fully aligned with the growth strategy and the Medium Term Economic Programme, and "includes the main features of the macroeconomic programme reflected in the recently concluded Staff-Level Agreement with the IMF."

Mr. McFarlane pointed out that the new MTF, along with the Medium Term Economic Programme and a new five-year public sector investment programme, will form a "national framework incorporating development planning, budgeting and implementation of strategies, guiding consolidation of Jamaica's economic position and the transition to inclusive and sustainable growth."