Jamaica’s Economy Has Been Experiencing Consistent Growth For Almost 18 Consecutive Quarters – Holness
Prime Minister Hon. Andrew Holness, says the local economy has been experiencing consistent growth for almost 18 consecutive quarters.
Speaking to participants at the Ministry of Economic Growth and Job Creation’s Strategic Leadership Retreat at Moon Palace in Ocho Rios, St. Ann, last week, Mr. Holness said Jamaica is seeing a return to sustainable periods of significant economic growth not witnessed in the country in years.
For the 2018 calendar year, the economy grew by 1.9 per cent.
The Prime Minister argued that if the economy continues to maintain this level of growth and achieves two per cent growth for the year, then Jamaica will be on a trajectory to its true growth potential, which is about five per cent.
Mr. Holness said it shows that there is a certain level of sustainability in what the Government is doing, and even though they have had some shocks, they can still recover and keep growing. It is still a good sign that something right is happening within the economy to keep generating quarter after quarter growth,
The Prime Minister noted that one of the benefits that has arisen due to these current periods of sustainable growth is employment.
He said that statistics would show unemployment to be down to eight per cent and stated that this was not by accident, but a product of deliberate policies enacted by the Government.