Opposition Leader chides gov't for 'mediocre' economic growth

 

Opposition Leader Mark Golding is challenging claims by Prime Minister Dr. Andrew Holness that the economy is at its strongest under his administration.

 

In a video statement on Wednesday, Dr. Holness challenged critics of the government's management of the economy.

 

He argued that the economy is strong, resilient, and fiscally fit, highlighting the country's ability to withstand and recover from shocks while maintaining economic stability.

 

Dr. Holness also reflected on the country's progress in job creation, debt reduction, foreign exchange stability, and sustained economic growth.

 

He said these are key indicators of a robust and well-managed economy.

 

But speaking at a meeting with residents of Mountain View Avenue on Wednesday night, Mr. Golding said the economy is experiencing low to negative growth.

 

"We've had mediocre levels of economic growth for nine years. And in fact, in 2024, we're going to have negative growth. And they're going to say it's [Hurricane] Beryl, but it started before Beryl, because the first six months of the year before Beryl, the rate of growth was effectively zero and then Beryl happened and the aftermath and it put it into negative territory. So they can't say that their economic model is a success," he complained.

 

While admitting that the country's debt has declined, Mr. Golding took part credit, noting that this movement was started under the previous People's National Party administration. 

 

"We fixed the tax systems so that more revenues were available to take down the debt from the very high levels where we inherited it from them after they crashed the IMF programme in 2011, and to set the thing on the right path. And we passed the necessary laws. I was in charge of the legislative committee of Cabinet, making sure that all of the laws that were required by the IMF programme were developed and brought to Parliament and passed on time," he insisted.