Throne Speech Reaffirms Jamaica’s Economic Achievements
By: , February 13, 2025
Photo: Mark Bell
Custos of Kingston, Hon. Steadman Fuller (left), who deputised for Governor-General, His Excellency the Most Hon. Sir Patrick Allen, inspects the Guard of Honour, at the ceremonial opening of Parliament at Gordon House on Thursday, February 13. Custos Fuller delivered the Throne Speech.The Full Story
Jamaica’s strong economic achievements formed the basis of the traditional Throne Speech, today (February 13), as Custos of Kingston, Hon. Steadman Fuller, who deputised for Governor-General, His Excellency the Most Hon. Sir Patrick Allen, noted that Jamaica “stands at the dawn of a new chapter in its journey”.
Among the accomplishments he highlighted in the Parliament were the historic low unemployment rate of 3.5 per cent; debt-to-GDP ratio targeted to fall below 70 per cent by March 2025, the lowest since the 1970s; unprecedented surplus in the Balance of Payments Current Account for two consecutive fiscal years; record-high Net International Reserves of US$5.6 billion at the close of 2024; and significant rebounds in both Business and Consumer Confidence.
“Today, we gather as a stronger, more prosperous Jamaica – ready to embrace boundless opportunities,” Custos Fuller said.
“By every measure, we are, indeed, writing our next chapter in our post-Independence development journey,” he added.
The speech also highlighted Jamaica’s improved standing on the global financial stage, with credit ratings at their highest levels since external debt rating began.
Custos Fuller noted that the nation is now just three upgrades away from achieving “investment grade” status.
He said despite challenges, such as the interruption caused by Hurricane Beryl, Jamaica has demonstrated remarkable resilience, recording 12 consecutive quarters of economic growth following the COVID-19 pandemic.
With that in mind, Custos Fuller made a call to action: “Let us now move forward with boldness and vision, confident in the strength of our foundations and the limitless potential of our nation.
Let us now write Jamaica’s Next Chapter – Aspiring to Greatness.”
The Throne Speech marks a pivotal moment in Jamaica’s history, setting the course for continued growth, prosperity, and the realisation of the nation’s full potential.
The speech, titled ‘Jamaica’s Next Chapter: Aspiring to Greatness’, was delivered at a joint sitting of the Parliament, marking the traditional ceremonial opening at Gordon House.