Mon | Jul 16, 2018

PM Holness thinks five per cent growth target will be exceeded

Published:Tuesday | November 8, 2016 | 10:00 AM

Prime Minister Andrew Holness says the level of economic growth achieved in the next four years could exceed the target set by his administration.

Holness established an Economic Growth Council with a mandate to help the Government achieve five per cent gross domestic product (GDP) growth by the 2020/2021 financial year.

Addressing the signing last night of a declaration of intent to implement the EGC proposals, Holness noted that Jamaica deserved results and said the so-called "5 in 4" target could be exceeded.


Prime Minister Andrew Holness

His projections could be buoyed by the report last week from his finance minister Audley Shaw that Jamaica recorded 2.3 per cent growth for the July to September quarter, the strongest single quarter growth since 2002.

Meanwhile, a confident EGC chairman, Michael Lee-Chin also re-asserted last night that the growth target will be achieved.

He said Jamaicans should take advantage of current low asset prices and invest in Jamaica.


Economic Growth Council chairman, Michael Lee-Chin

Holness established the EGC in April to propose growth initiatives and then monitor their implementation.

Some of them have been included in the proposed standby agreement that the International Monetary Fund board is to consider this month.