Prime Minister Bruce Golding, addressing Guardian Life’s 11th Annual Awards Ceremony yesterday (March 3) at the Jamaica Pegasus Hotel expressed the hope that enough fiscal space will be allowed to put some money in the economy so people can start working and spending again.
“We believe that this is critical to supporting the investment that we want to see. It is going to have to be a judicious balance because we can’t go back to where we are coming from. We can’t go back to the interest rates we are coming from but as I have said to the International Monetary Fund (IMF), some provision has to be made for us to provide the stimulation that the economy needs, if it is to recover.”
The Prime Minister added that sacrifices will have to be made and the provision of fiscal space in the budget can possibly be made through the IMF standby agreement or the medium term programme which the Government is still pursuing.
“I have been having discussions with Minister Shaw and his team and we are going to have to sign off on the budget profile for this coming fiscal year. We certainly have to conclude all of those discussions within the next ten days to two weeks to be very clear as to what is going to be our expenditure profile for this coming fiscal year."
Mr. Golding added that Government has to continue to provide policy leadership which requires a new enlightened, creative, energetic, aggressive approach by the custodians of the huge pool of savings among which Guardian Life is principally numbered.
Issued by: The Office of the Prime Minister