Despite almost 3 billion dollars of additional governmental support being provided to assist vulnerable Jamaicans impacted by the economic crisis, one Financial Analyst says it will not be enough to sustain individuals.
He does however suggest that there are some fiscal policies that can be put in place to better navigate the nation through the economic difficulties. Following the government’s announcement on provisions for additional measures to support Jamaicans, Financial Analyst Dennis Chung says while it’s commendable of the government,
The support will not be sufficient and there is no real long term solution. Whilst he welcomes the additional $500 million invested by the government towards the NSWMA, he says that the billions spent annually on the garbage issue, are being hamstrung by bad personal habits among the citizens. With regards to improvements amid the economic crisis, Chung suggest that Jamaica has handled its debt to GDP ratio fairly well compared to other countries
He also noted that succumbing to cries to reduce tax on gas would not be a smart move by the government, as it would affect the exchange rate as well as inflation. The financial expert also spoke about a potential timeline for a return to pre-pandemic economic levels.
