Prime Minister Dr Andrew Holness in the House of Representatives on Thursday
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Prime Minister Dr Andrew Holness, in his contribution to the Budget Debate in Parliament on Thursday, dismissed criticisms by the Parliamentary Opposition that the country is in an economic crisis and presented data to defend the fiscal policies of his administration.
The Opposition has argued that the country is now in a technical recession due to recent lack of growth.
But the Prime Minister countered that his administration has rescued the economy from what he claimed was years of economic mismanagment by previous administrations of the People's National Party, by controlling spiraling inflation, stabilising the foreign exchange and creating more jobs.
He add that the stable exchange rate has aided in economic development.
Dr Holness said his administration is determined to maintain the current economic trajectory.
He cited the financial collapse of the 1990s and the creation of the Financial Seector Adjustment Company [FINSAC] in respone, as a major set back to the country's economic development under that PNP led administration, adding that the country is just emerging from the FINSAC crisis.
The Prime Minister insisted that the government has been prudent in its spending in order to maintain economic progress, asserting there is a direct link between good economic management an the capacity to fix roads, build hospitals, buying new buses and garbage trucks among other things.
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