Signs of recovery or more problems?
Author : teriannI am still trying to come to terms with the new information about the
Jamaican economy that has been swirling around for the past few days.
I am not sure if I should be celebrating or praying for deliverance!
The announcement about imminent job cuts in the public sector caused me to panic slightly even though it would be spread out for a few years.
Then there was good news that the economy had grown and there was reason to believe that the G.C.T. tax will be lowered to around 12 per cent in the near future.
I guess nothing is perfect and we will always have the good alongside the
bad.
So do these announcements build confidence in consumers?
Well, some wait for the other shoe to fall as they predict disaster, while
others may feel that there is still hope for our country.
How do you weigh in on the issue? Does the recent news make you feel
optimistic for the future?
Teri Ann Renee Paisley (Gleaner on-line writer)
Tags: economy, G.C.T., jobs, public sector, taxes
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4 Responses to “Signs of recovery or more problems?”
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To me there is hope and will always be , but the picture is painted a little too rosy,
I don’t believe that the economy has grown at the level they are touting!..
may be what the finance minister and the government is forgetting. is that Jamaica is like one of those feeder airlines that are part of the bigger ones!.. we depend too much on tourism and foreign investment to start crowing !. while our feeders are still struggling!..
These people mush be realistic!.. Look at all the factors before they come out and later come back and say otherwise, they are good for that!.
Govt must say were this growth has come from is it through new investment,lower interest rates etc. What is causing the economy to grow? you cannot just say it has grow.
Unfortunately western economies have too much debt. That is the problem. It filters down to middle class families being in too much debt, they can’t pay for their homes, and they borrow money just to make ends meet in Canada and the US.
Recovery in the US is NOT around the corner. Home foreclosures will probably rise again, and job losses may continue.
But on the good side, downturns can be opportunities in the Caribbean for those with money who want to make large investments. It can make Jamaica more affordable to purchase land for hotels and condo development. Tourism may not be too bad if Jamaica is considered to be cheaper than other islands in the meantime.
Personally, I haven’t seen the impact of growth in the economy as food prices are still high as well as our electricity rates not to mention the taxes that comes with these.
With the debt overhanging over our heads the chance of economy growth is slim.
However, I believe the Government is making steps to deal with these issues and so hopefully things will change for the better.