Government Senator, Aubyn Hill, says the affirmation of Jamaica’s B- plus rating by Standard and Poor’s is a sign of the gains made by Jamaica in the area of fiscal stability.
He says the affirmation is of particular importance as it comes at a time of great economic turmoil.
Senator Hill was speaking in the Upper House recently.
He says the move to upgrade the country to B-Plus earlier this tear was the greatest rating earned from the agency in 20 years.
Senator Hill was piloting the Financial Administration and Audit Amendment Act 2020.
He says the Bill is an important legislative undertaking that will allow for automatic adjustments to the fiscal balance when the requirements to achieve the fiscal targets are suspended in keeping with the fiscal responsibility framework.
Aubyn Hill, Government Senator.