Calls For another COVID-19 Stimulus Package in Jamaica

Sunday, January 24, 2021, 9:05 PM

Spokesperson on finance for the opposition, Julian Robinson has gone on to appeal to the government of Jamaica for another Covid-19 stimulus package, to help the country bounce back from the damaging effects the pandemic has had on the economy.

According to Robinson, the package will be crafted for the assistance of those in the population who are vulnerable, the unemployed and those persons who are poverty-stricken.

Advertisement

According to Spokesperson Robinson, if there should ever be a forthcoming stimulus package it would need to be directed towards the Agricultural and Manufacturing sectors, as these industries are most likely to improve the economy.

He further spoke on how the stimulus will be important to make the economy recover, which is necessary since the nation’s economy been underperforming especially due to the impact the pandemic had on the tourism industry.

In the last year, the economy had an 11 per cent decline in performance, which was a result of the virus impact.

Two solutions put forward by Julian Robinson were, to go back to the international financial institutions for help, or cut the countries primary surplus by 1 per cent will enable a 20 billion dollar stimulus package to be available.

The primary surplus consists of the difference between Government repayment, Government taxes and Government spending.

Jamaicans in the past have benefited from a stimulus package from the Government which allowed 435,000 Jamaicans, who were displaced from their regular jobs getting financial help.

Even though the Minister of Finance and Public service Dr Nigel Clarke said that there is no room for another stimulus package, Julian Robinson is still pushing forward for it.





Made in Jamaica 🇯🇲 Yardhype.com website Since 2012 © YARDHYPE 2011-24