Finance Minister, Dr. Nigel Clarke, is defending the Holness administration’s record in the wake of low economic growth.
The administration, which had touted five percent growth in four years, has struggled to exceed 2 percent economic growth and the growth for 2019/20 is forecast to decline to just 0.7 percent.
Nationwide’s Business Editor, Kalilah Reynolds, sat down with Dr. Clarke on her YouTube show, What’s in it for Me?
Dr. Clarke says despite low growth, there is good news for the economy.
The Finance Minister says despite the low numbers, Jamaica has exceeded the average growth for Latin America and the Caribbean.
He argues that the country has been negatively affected by global trends
Dr. Clarke adds that Jamaica’s economic transformation may be suffering from bad timing.
Meanwhile, the Finance Minister says he will not comment on the call by the People’s National Party, to slash General Consumption Tax, GCT, by two percentage points.
Dr. Nigel Clarke, Minister of Finance.