Sun | Jun 13, 2021

0.9% growth nothing to smile about, says Holness

Published:Friday | November 15, 2013 | 8:34 AM

Opposition Leader and spokesman on Finance and Planning, Andrew Holness, has described the 0.9 per cent growth in the September quarter announced by the Minister of Finance as insignificant, unconfirmed and nothing to smile about.



In his first statement as opposition spokesman on finance he noted that Jamaicans are not as excited as the minister as they are being subjected to increased hardships.



Holness, who was speaking after a meeting with the IMF yesterday, said there is no doubt that the low level of confidence among consumers, investors and business operators continues to adversely impact economic activity and stymie the prospects of robust growth in the short-term.



He said it is evident that the PNP administration is pursuing an overly contractionary fiscal policy which, will do very little to spur meaningful levels of growth and encourage new investments which are critical to providing more jobs.



Holness said the government needs to seriously consider initiatives that will engender encouraging levels of growth in the productive sector and other critical areas of the economy.



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