Honourable Members,
We are here today during an unprecedented time which is emerging as a “new normal” in our consciousness. We have mounted a largely successful and intense programme to manage the COVID-19 pandemic and swiftly adapt to a new way of life. Wearing of masks has evolved from a practice, once essential only for a few, to being universally mandated.
Although 2020 did not unfold in a way we would have anticipated at the beginning, it has taught us more than anything, that life is precious, fleeting and must be treasured. For all those who have lost loved ones, we express our deepest condolences.
Prior to the pandemic we had forecasted 1.2 % growth for fiscal year 2020/21. The past financial year has shown us the need for strength and resilience. We have ensured that we have used a risk-based management approach that is evidence-based, measured, situationally appropriate and proportionate. We have developed strategies for coping and recovering.
In April 2020, the Prime Minister appointed the COVID-19 Economic Recovery Task Force – a multi-sectoral Task Force to help chart Jamaica’s economic recovery from the fallout and devastation caused by the COVID-19 pandemic. The recommendations of the Task Force will be our guide to emerging stronger and better than before.
Last year, we committed to making this our decade of growth. Notwithstanding setbacks caused by the pandemic, we must recommit to our 2030 vision and summon our energies, talents, and resources as we march forward to achieve it. We must never lose focus on creating a safer and more caring society where all can achieve their true potential.
We must embrace reform with ambition. Our goal cannot simply be to return Jamaica to our pre-COVID-19 reality. We must go beyond this and emerge economically and socially stronger by addressing fundamental gaps that have been exposed, and exploiting opportunities that arise.
The COVID-19 Economic Recovery Task Force recommended several policies and initiatives that will guide our recovery effort, including;
• Greater focus and shift of capital expenditure towards activities that maximise local value added.
• Accelerated capital investment in public health capacity to serve the daily healthcare needs of the population and respond to crises, thereby ensuring our resilience. • Accelerated investment in public education infrastructure and skills training; with greater focus on science, technology, engineering and mathematics (STEM).
• Increased public investment in technology and broadband connectivity.
• Expansion of the social safety net, while at the same time ensuring its efficiency and transparency.
• Reconfiguration and diversification of the Jamaican economy by supporting the creation of new industries and strengthening local linkages.
Honourable Members, we must not only rebuild what we have lost; Every Jamaican, every entrepreneur, every civil servant, every business, and every government agency must BUILD FORWARD…STRONGER TOGETHER!