Mon | Dec 18, 2017

PM says administration remains undaunted, committed to achieving growth target

Published:Saturday | October 7, 2017 | 6:19 PM
Holness

Prime Minister Andrew Holness says his administration is committed to achieving five per cent growth in Gross Domestic Product (GDP) by 2020.  
 
The ambitious 5-in-4 growth target was first announced by chairman of the Government’s Economic Growth Council Michael Lee Chin in April last year.

This week the Statistical Institute of Jamaica reported that the economy contracted by 0.1 per cent for the quarter that ended in June.

But speaking at the official opening of the refurbished Marcus Garvey Drive in Kingston yesterday, Holness pointed out that the island was impacted by heavy rains for the quarter that ended in June.

However, he says his administration remains undaunted and cautioned that Jamaica must never lose its ambitiousness. 

He predicted that economic growth will increase as his administration continues to transform the economy to be less dependent on agriculture and more on developing the road infrastructure.