Golding predicts modest growth in 2010

KINGSTON, Jamaica: Prime Minister Bruce Golding says the nation’s economy is expected to return to a path of modest growth by the middle of the year.

In his New Year’s message, Golding highlighted tourism and agriculture as two sectors that grew during the past year, and restated the government’s resolve to make enterprises in these sectors, and others, succeed.

“The private sector must be encouraged and facilitated to lead the way in expanding economic activity. This is as it should be, but is now more crucial than ever. That is why reducing the rate of interest – not simply taxing it – is our strategic direction. Increasing further the flow of credit to micro, small and medium-sized enterprises is our strategic direction, because they are the surest way to fast-start the economy and create jobs,” Golding said.

Golding also reiterated that the International Monetary Fund agreement currently being negotiated is necessary to help the country through the current crisis, but it is a not a panacea for the nation’s problems.

“It is our own resolve to contain expenditure, eliminate waste and corruption, increase our earnings and our revenues that will secure the brighter future we all want for Jamaica,” said Golding. (JIS)

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