Prime Minister Andrew Holness speaks during his contribution to the 2025 Budget Debates (Photo Naphtali Junior)
March 20, 2025
JLP has presided over the strongest economy since independence, says Holness
KINGSTON, Jamaica — Prime Minister Andrew Holness has declared his Jamaica Labour Party (JLP) Administration to be presiding over the strongest economy since the country gained Independence in 1962.
He repeated this position during his ongoing Budget Debate presentation at Gordon House. He has also hit back at statements made by Opposition Leader Mark Golding and the Opposition Spokesman on Finance, Julian Robinson, about which party can lay claim to fiscal discipline.
“I stand before you today filled with immense pride as we reflect on the extraordinary progress our nation has made. The achievements are not just incremental improvements; they are historic breakthroughs that have placed our beloved nation in the strongest economic position ever since gaining independence,” Holness remarked.
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“The numbers do not just tell a story of improvement; they tell a story of transformation—of an economy that has overcome decades of instability, uncertainty, and crisis to achieve a level of stability, strength, and resilience that Jamaica has never before experienced,” he added.
He accused Golding and Robinson of attempting to use their Budget presentations to “whitewash their record” and of suggesting that analysis of the country’s economic performance does not go back far enough to do justice to their contribution.
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“I do not believe they can complain if we start at Independence,” said Holness.
“There are several generations of young people who do not know our modern economic history, there are generations of middle-aged and older Jamaicans who experienced the history but did not quite understand it or have forgotten about it. Then there are those who were the architects of our destructive past, some quietly and privately admit shame over their actions, but some still try to justify their actions and absolve themselves of responsibility as they battle for your mind,” said Holness.
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He then went on to compare the record of the People’s National Party with the JLP’s, including the financial sector meltdown of the 1990s that added over 42 per cent to GDP and record inflation during the PNP’s administration of 1989-2007. The prime minister also pointed to the rapid devaluation of the Jamaican dollar during this period, which moved from J$5.51 to US$1 in 1989 to US$70.40 in 2007.
Holness also pointed to an average unemployment rate of more than 13 per cent during the last PNP administration of 2011-2016 compared to the record 3.5 per cent under his government.
