Immediately after his finance minister enticed potential investors to set up operations in Jamaica, Prime Minister Andrew Holness strengthened the Government’s message that the island is the perfect place to do business as his Administration’s strong fiscal management has created buffers to cushion economic shocks.

“We have managed to diversify our economy and we have put in place policies where we have created buffers. We have fiscal buffers to be able to withstand not necessarily the most extreme shocks, but we can withstand shocks as part of the stability and resilience of our economy,” Holness said in his keynote address to the first day of the Invest Jamaica 2022 Business Conference in Montego Bay yesterday.

To emphasise his point, Holness said that had the COVID-19 pandemic struck at any time from the 1970s through to the early 2000s Jamaica would not have been in any shape to withstand the economic hardship it unleashed.

“The Jamaican economy, for many years, went through a very difficult period where we were reliant on a few industries for foreign exchange. I put it to you this way, if the pandemic had struck in 1980, or in 1970, or in the early 2000s, or if it had struck 10 years earlier, the Jamaican economy would not be able to withstand it,” Holness stated.

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