Increased Productivity Important In Staving Off Potential Inflationary Pressures
Minister without Portfolio in the Finance and the Public Service Ministry, Fayval Williams, is emphasising the importance of increased productivity in staving off potential inflationary pressures.
She said that low productivity results in cost increases that flow through to product prices and thereby raised inflation.
For a country, productivity growth is important because being able to provide more goods and services to its citizens translates into better quality of life. Ultimately, that is what we want, she added.
She said investment in human capital development will increase labour productivity and expand the range of the productive capacities of the Jamaican people.
Mrs. Williams was participating in a panel discussion at the 2018 Productivity and Continuous Improvement Conference hosted by Make Your Mark Consultants (MYMC) in New Kingston earlier this week.BM