Jamaican Prime Minister Andrew Holness addressed the BRICS Plus Summit in Johannesburg, South Africa
Watch video for the Prime Minister full speech.
The Prime Minister left Jamaica for a working visit to Namibia and the emerging national economies: Brazil, Russia, India, China and South Africa (BRICS) Summit in South Africa. He arrived in Namibia on Sunday July 22/2018 on his birthday.
The Prime Minister thank the president of South Africa, Cyril Ramaphosa for the invitation to the Summit.
He argued that an inclusive and sustainable economic growth have a great capacity to transform the lives of millions from poverty to prosperity. He explains that Jamaica and many of the countries in the Caribbean struggles with low levels of economic growth which is made worst by Climate Change. He went on to say, all but one member of CARICOM have been classified as Middle Income countries.
He argued that this is a superficial classification based only on the countries’ GDP. According to the Prime Minister, it fails take in consideration the high level indebtedness, fiscal deficit and environmental and social vulnerability which in many ways constrain the countries’ options in pursuit of growth.
He argued that Jamaica and other Caribbean countries have made substantial progress in making painful but necessary structural reforms which have delivered microeconomics stability and now have them poised for growth.
The Prime Minister outline four key points of focus that could bring economic growth and prosperity:
- Enhance productivity
2. Engage in Trade
3. Must address Climate Change
4. People deserve social protection, inclusion and empowerment