PM Underscores the Importance of Sound Economic Management

Prime Minister, Dr. the Most Hon. Andrew Holness, says sound economic management is imperative in fostering growth and improving the quality of life for all Jamaicans.

Dr. Holness, who delivered the keynote address during the official opening of Courts furniture and appliance store in Drax Hall, St Ann, on October 10, highlighted the significant macroeconomic strides Jamaica has made in recent years, particularly in relation to employment and foreign direct investments (FDI).

Among the notable out-turns, the Prime Minister said, was the record low 4.2 per cent unemployment rate, adding that this achievement reflected the Government’s commitment to creating jobs and supporting local businesses.

Dr. Holness also underscored the importance of a stable foreign exchange rate, pointing to its importance in encouraging local and overseas investments.

“A stable currency fosters confidence among investors, leading to more jobs and better wages for our people,” he said.

The Prime Minister further elaborated on the Government’s initiatives aimed at strengthening the economy, including infrastructure development and support for small and medium-sized enterprises.

“The numbers speak for themselves. Our focus on good economic management has allowed us to build a Jamaica that is not only attractive to investors but also provides opportunities for our citizens to improve their lives. We are proud to be the Government that is making this happen for you, and we are committed to ensuring that every single Jamaican can experience this growth,” he said.

Dr. Holness added that his Administration’s policies are designed, not only to stimulate the economy but also to uplift communities islandwide, while maintaining that there are more than enough reasons to be optimistic about Jamaica’s economic climate.

“It’s a great time to be in business in Jamaica,” Prime Minister Holness said, adding that with the Government focused on growth and development, “we feel more empowered to invest in our ventures and create jobs in our communities”.

For his part, Minister of Industry, Investment and Commerce, Senator the Hon. Aubyn Hill, said the opening of the Courts store in Drax Hall is a testament to Jamaica’s growing retail sector, which has recorded significant expansion in recent years.

He encouraged Jamaicans to take advantage of the economic opportunities available to them by investing in their skills and education, emphasising that personal development is crucial for achieving a better quality of life.

“We are building a Jamaica where you can pursue your dreams and achieve your goals. Let us unite in our efforts to create a Jamaica that is prosperous and inclusive. Together, we can overcome challenges and build a nation that we can all be proud of,” Senator Hill said.

Mayor of St. Ann’s Bay, Councillor Michael Belnavis, said the store’s opening represents more than just a new retail outlet, pointing out that it symbolises Jamaica’s ongoing journey towards economic resilience and empowerment.

He said based on the positive indicators, the country is poised to continue on its path towards achieving higher levels of inclusive sustainable growth, thereby ensuring a brighter future for all Jamaicans.