PM Holness says Jamaica must avoid what he termed “the vicious cycle” if the nation intends to achieve growth

Prime Minister Dr. Andrew Holness says Jamaica must avoid what he termed “the vicious cycle” if the nation intends to achieve growth.

He made the statement at the handing over ceremony of 93 buses to the Jamaica Urban Transit Company yesterday.

According to the Prime Minister, the vicious cycle happens when governments have to borrow to satisfy the needs of the population, but end up using the money borrowed, to pay back loans.

He explained that this cycle eventually leads to bankruptcy.

The Prime Minister said governments therefore must maintain fiscal discipline even when faced with political pressure from citizens.

Dr. Holness opined that Jamaica can be steered away from the vicious cycle, through increased productivity.

He called on Jamaicans to play their part, noting that growth is the sum of the increased productivity of every citizen.

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