JIS News

Minister of Finance and the Public Service, Hon. Audley Shaw, has said that the country’s macro-economic climate is ideal for investing in entrepreneurial ventures.

 “I am happy that I can report that the macro-economic climate is now more and more favourable for risk taking for entrepreneurial activity, which is the only sound foundation on which we can create lasting wealth, peace and prosperity,” Mr. Shaw said.

He was speaking at a workshop and luncheon for small and medium-sized enterprises (SMEs), at the Jamaica Pegasus Hotel, New Kingston, Tuesday (February 15).

Macroeconomics is focused on the overall movements and trends in the economy. The discipline examines economy-wide phenomena, such as changes in unemployment, national income, rate of growth, gross domestic product, inflation and price levels.

The Minister said that, coming out of a global economic recession, Jamaica’s economy is poised for growth due to this favourable climate.

“The economy, though not growing, is now poised for growth, because the macro-economic fundamentals are all in the right place,” he said. He also noted that the dollar is stable, interest rates are falling and the gross foreign exchange reserves are at an all time high of almost U.S. $3 billion.

The session, dubbed ‘Secrets to Business Success’, was put on by the National Export-Import (EXIM) Bank of Jamaica, in association with the Mona School of Business and the Jamaica Bankers’ Association. It featured a panel discussion with successful entrepreneurs. Business leaders also shared practical advice on how to effectively manage and grow businesses.