September 22, 2026
PM Andrew Holness says Government may need to undertake counter-cyclical measures to support economy at this time
Written byNatalie Campbell
Prime Minister Dr. Andrew Holness says the Government may need to undertake counter-cyclical measures to give further support to the economy at this time.
While not stating what measures would be considered, the Prime Minister notes that the country has been able to withstand multiple, intense and overlapping crises due to fiscal responsibility.
He says the measures could be taken without putting financial stability at risk.
Dr. Holness points out that the impact of Hurricane Melissa wiped out more than 50 per cent of Jamaica’s Gross Domestic Product (GDP) and followed other weather-related disasters including Hurricane Beryl and flood rains.
He says the country was also feeling the effects of global crises including increase in world oil prices.
Dr. Holness explains that the Cabinet received an update on the economy yesterday by Finance Minister Fayval Williams.
The Prime Minister says there are also plans to meet with the private sector.
