Wed | Aug 15, 2018

Seventh IMF test should be successful

Published:Thursday | February 19, 2015 | 11:55 AM

The Governor General says Jamaica is well on its way to passing the seventh performance test under the agreement with the International Monetary Fund (IMF).

He made the declaration this morning in his Throne Speech during the ceremonial opening of Parliament for the new legislative year.

According to Sir Patrick, there were improvements in Jamaica's macro-economic indicators last year.

In his Throne Speech  Governor General Sir Patrick Allen reported that inflation for the calendar year was 6.4 per cent, down from the 9.5 per cent recorded in 2013.

The Net International Reserves stood at US$2 billion, representing 18 weeks of imported goods and services.

The current account deficit which stood at 15 per cent in 2011 declined to 7.3 per cent in 2014.

The Primary Surplus at the end of November was $54.4 billion, that's 12.8 per cent better than the $48.2 billion that was projected.

Meanwhile, in the upcoming year, the governor general says the government will focus on the provision of cheaper electricity.

The government is also to focus on developing the agricultural sector.

To this end, Agro Parks will be built in Western Jamaica and St Mary.

Early childhood education will also be a priority of the government.

The Governor General says steps will be taken to improve the care and protection of children in Jamaica.

The Health Sector will also receive priority focus.


Governor General Sir Patrick Allen

And Sir Patrick says 15,000 land titles are to be delivered to home owners this year through the Land Administration and Management Programme (LAMP) as the government strives to create a culture of land and home ownership society.