Jamaica’s economic performance is the best it has ever been, says Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke.
He cited, among the indicators, the country’s robust foreign exchange reserves, low unemployment rate, low debt to gross domestic product (GDP) ratio, as well as sustained periods of growth.
“Jamaica, today, has macroeconomic fundamentals that represent the best that we have ever had. Our foreign exchange reserves are US$4.7 billion approaching US$5 billion, greater than it has ever been, and is up 56 percent from the COVID-19 pandemic,” Dr. Clarke said.
“Our unemployment rate is at the lowest level it has ever been, at 4.5 percent, with 148,000 jobs created over the past seven years and we have recovered from the pandemic in terms of output. To top it off, our debt is the lowest it has been in approximately 25 years,” he added.
The Minister noted that Jamaica has recorded 20 consecutive quarters of positive economic growth, pointing out that the Government is working to ensure that “the periods of growth that you have are longer and longer.”
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Edited by Jesus Chan
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