Reading Time: 5 minutes

Durrant Pate/ Contributor

The 2026/27 Budget Debate in parliament, which climaxes today, has been, for the most part, gratifying but lacking a critical ingredient for a satisfying meal.

None of the cooks in this two-team kitchen at Gordon House provided that critical ingredient to undergird a palatable meal to dish out for consumption by the Jamaican populace. What the debate thus far has lacked is what many policy enthusiasts and thought leaders have been clamouring for: a detailed and credible economic growth strategy.

Such a strategy ought to underpin the development plans and policy initiatives unveiled thus far in the Budget Debate by both sides of the House of Parliament. What we have heard in the debate is project plans, policy announcements, along with alternative revenue measures and initiatives to fix the ills in the economy, which all seem to be in silos, as they are not underpinned by an economic growth strategy.

Growth strategy highly desirable

The theorists will argue that a strategy must come first, acting as a roadmap, followed by a plan, which provides the step-by-step instructions for the journey. In looking at the definitions of a strategy as distinct from a plan, we see that a strategy is a cohesive theory for success, while a plan is a concrete, organised list of actions.

An economic growth strategy is usually long-term, lasting more than three years, while economic plans are often shorter-term. The last attempt at Jamaica devising an economic growth plan was in late 2016 with the formation of the Michael Lee Chin Economic Growth Council (EGC) to provide policy initiatives for stimulating economic growth in Jamaica, with a focus on implementing a “5 in 4” growth strategy, meaning 5% growth in 4 years. 

However, this was a colossal failure due to, among other things, COVID-19. Lee-Chin last month argued that the EGC was a good initiative that should be re-instituted, indicating that the council was allowed to “evaporate” following the COVID-19 pandemic, highlighting a lack of follow-through.

ECG not lived up to theoretical underpinnings

We see where this attempt at an economic growth strategy failed to live up to certain theoretical imperatives such as flexibility, focus, and control.

With regard to flexibility, strategies are adaptable to changing environments, while plans are usually rigid and step-by-step. In the ECG model, it is apparent that the model lacked this imperative.

Focus: Strategy focuses on external competition and winning; planning focuses on internal resource allocation. Jamaica’s model never did focus on external competition, but more on the internal environment, tracking recommendations for economic growth and implementing growth initiatives to achieve 5% growth in four years. The EGC provided quarterly reports up to the production of its ninth and final report in December 2019.

Control: Strategies deal with uncontrollable factors, whereas plans manage controllable resources. 

So throughout this budget debate, we have not heard of a growth strategy, but we see the cooks articulating their grand projects, proposals, ideas, announcements without them being a part of a growth strategy, so long needed and so highly desirable and necessary. As such, what has been dished out in this 2026/27 Budget Debate session are plans and programmes, lofty development as they may be, inspiration as we see, but they are plans without a strategy, which is merely “activity without direction”. 

Debunking the rhetoric 

Both sides talk about COVID-19 and Hurricane Melissa and how destructive these were to the economy, as justification for our poor economic performance. While this is so, it is only part of the story; the full picture is that we have been trying to grow our country without a solid and bipartisan economic growth strategy, which will not go “off course” or “out of the kitchen” no matter which new administration comes in. Yes, there is VISION 2030, but this is more aspirational than practical. 

The growth strategy is needed, and within the strategy is the plan to counter, overcome and respond to unplanned and unexpected occurrences such as COVID and Melissa, since there is already a laid out blueprint to move forward and not made up as things unfold. Take the case of the EGC and COVID-19; the strategy, which was being attempted by the Lee Chin team, was not flexible, given that it was unable to adapt to the changing environment brought on by the pandemic, but wilted away, as it wasn’t focused on the external environment as well.

We know Jamaica is susceptible to tropical cycles, so what was in the EGC to take into account to overcome such occurrences? It’s now time to chart a new course, sing a new kitchen song, undergirded by a committed growth strategy.

Countries success in their growth strategies   

Several countries have rolled out growth strategies often involving export-oriented industrialisation, state-led investment, or digital transformation, successfully raising themselves from developing to developed status, thus providing models that are actively being adapted by other nations. Key examples include South Korea, Singapore, China, and Ireland. 

1. South Korea (Export-Oriented Industrialisation)

South Korea is considered the premier example of “compressed growth,” moving from one of the world’s poorest nations to a high-income, OECD member in a few decades. 

• The Strategy: Intense focus on export-oriented industrialisation, starting with textiles and moving to heavy manufacturing, shipbuilding, and electronics. It involved tight state-market collaboration and fostering “chaebols” (large conglomerates).
• Success Elsewhere: This export-led model has been adapted by nations like Vietnam, which has used it to boost its manufacturing sector and attract FDI. Bangladesh also adopted this model, with its garment sector success largely based on partnerships that trained workers in South Korea. 

2. Singapore (Strategic Investment and Talent)

Singapore transformed itself into a global logistics and high-tech hub despite lacking natural resources, capitalising on its strategic location. As regards size, note that Jamaica is about 15 times larger than Singapore, yet still Singaporeans have a high GDP per capita (approx. US$90,000 plus), vastly exceeding Jamaica’s (US$7,000 plus)

•  The Strategy: Pro-business government, low taxes, and massive public investment in infrastructure and human capital. Singapore’s Manufacturing 2030 plan focuses on advanced electronics, AI, and robotics.

• Success Elsewhere: Singapore’s model of “master-planned” industrial parks and strict pro-business regulations has been studied and partly replicated by cities in China and in the development of special economic zones in Dubai.

3. China (State-Led Development and Infrastructure) 

China has used a unique combination of state and market forces to become the world’s second-largest economy. 

• The Strategy: Sustained public investment in infrastructure, a focus on export orientation, and rapid industrial upgrading, moving from low-wage manufacturing to high-tech leadership in AI and electric vehicles.
• Success Elsewhere: Countries in Africa and Southeast Asia are increasingly adapting aspects of China’s infrastructure-first, special economic zone approach, with nations like Ethiopia adopting industrial park models similar to Chinese approaches. 

4. Ireland (FDI-Led Growth) 

Ireland used a strategy focused on foreign direct investment (FDI) to transform from a largely agricultural economy into a European high-tech hub. 

• The Strategy: Low corporate taxes (12.5%), high-level investment in education, and leveraging EU membership to attract multinational companies in pharmaceuticals and IT.
• Success Elsewhere: This “low-tax, high-skill” model has been successful for small, open economies and has been adapted by Costa Rica to develop a thriving medical device sector.