We meet to launch the activities for a new Parliamentary year and to set out the next steps as we continue to improve the lives of our people and further develop our country.
Today, the state of our economy is stronger than it was one year ago. In this new spring, the signs of growth are appearing. The country has recorded three consecutive quarters of growth.
The year just ended, 2013-2014, was challenging.
The international economy remained sluggish and the balance sheets of many corporations continued to be impacted by low levels of consumer demand globally and locally.
Navigating these uncertainties required strong leadership and a steady hand. The Government was determined, and it stayed the course in respect of its economic policies.
Tough decisions had to be made. In doing so, Government relied on the understanding, resilience and goodwill of the Jamaican people. Our people have shown an awareness of the prevailing economic conditions.
They have demonstrated their willingness to make the sacrifices to get our economy on the right path. Investors, both domestic and foreign, also made significant sacrifices.
We have forged a partnership with the people…we are creating a partnership society. Our country has maintained stability.
Despite the challenges, the Government is meeting its obligations to its international partners, restructuring the economy and improving our governance system for the benefit of our people.
Over 107 reform measures are being implemented.
In March 2014, we sucessfully met the third review of Jamaica’s performance by the IMF under the Extended Fund Facility. This resulted in a further drawdown of approximately US$71.4 million. To date, the Government has met all quantitative fiscal and monetary performance criteria under the programme…READ MORE