Julian Robinson, the Opposition Spokesman on Finance, wants an injection of capital from the Government of Jamaica, which will target businesses and the vulnerable and assist in growing the shaky economy.
Robinson said that some businesses and especially the small ones are facing economic hardships, while there are data that show that Jamaica’s food insecurity has doubled in the last year.
“I believe that more can be done to deal with the most vulnerable, but also for critical businesses, like small businesses. There have been many businesses that have not benefited from the initial care programme that the government implemented.
“Business that have been on the brink, because we have a large informal economy, so there is money that is needed to provide a stimulus for these businesses, so that they can continue to produce goods and services, but importantly providing for the most vulnerable, will lead to a greater demand in the economy, which will grow the GDP, which has been sluggish,” Robinson stated.
He argued that the monetary input of the government to the vulnerable will have a quick turnover and help to grow the economy, which has been floundering because of the coronavirus (COVID-19).
“Jamaicans are suffering. There needs to be a greater injection to deal with the most vulnerable and dealing with the most vulnerable also makes good economic sense, because they will spend their money, which increases demand for food, increases demand for agriculture and other services,” Robinson said.
According to Robinson, while the government is concerned about meeting the island’s debt to GDP ratio target, it is being further deteriorated because of the reduction in the GDP that is a result of slow growth.