Honourable Members,
We thank the Almighty for His kindness and mercy.
The challenges of the past year — Hurricane Beryl, Tropical Storm Rafael, and the unseasonal rains that tested our infrastructure, economy, and communities — confirmed not just the strength but also the indomitable
spirit of the Jamaican people. Through courage, ingenuity, collective action, and the grace of God, we have rebuilt and risen above adversity.
We place our trust in the Almighty’s promise: “The Lord is my rock, my fortress and my deliverer; my God is my rock, in whom I take refuge, my shield and the horn of my salvation, my stronghold.” (Psalm 18:2, NIV). Indeed, Jamaica has stood firm, emerging stronger, more dynamic, and closer than ever to achieving the destiny we envision — a Jamaica that is peaceful, productive, and prosperous for all.
Today, we gather as a stronger, more prosperous Jamaica—ready to embrace boundless opportunities. By every measure, we are indeed writing the Next Chapter in our post-independence development journey.
Our unemployment rate is at a historic low of 3.5 per cent, empowering more Jamaicans with opportunities to
thrive.
• Our debt-to-GDP ratio is targeted to be below 70 per cent at the end of March 2025, the lowest since the 1970s.
• Jamaica’s credit ratings are at the highest levels since our debt has been externally rated, signalling our enhanced credibility and fiscal strength on the global stage. We are now just three (3) upgrades away from achieving “investment grade” status.
• After 57 consecutive years of deficits on our Balance of Payments Current Account since 1966, we have, for the past two fiscal years, managed to achieve a Balance of Payments Surplus