Prime Minister Dr Andrew Holness has reaffirmed the government’s commitment to prudent economic management, stressing that Jamaica’s development will always take precedence over political expediency.

Speaking during the East Central St. James Scholarship Programme Fundraiser at the Iberostar Hotel in St James last Saturday (May 3), Holness noted that while challenges persist, the country’s macroeconomic progress must not be sacrificed for short-term gains.

“While it is often argued that the ordinary man may not yet feel the full benefits of our macroeconomic successes, it is not right to suggest that these achievements should be sacrificed for political convenience,” he maintained.

The prime minister emphasised that the government “has exercised, and will continue to exercise, prudent and sustainable economic management.”

“This approach is vital in driving us toward the realisation of Vision 2030 — making Jamaica the place of choice to [live], work, do business, and raise families,” he added.

Acknowledging concerns that economic progress has yet to provide immediate financial relief for many Jamaicans, Holness reaffirmed the importance of these gains as fundamental pillars of the country’s long-term development.

“We recognise the disconnect that some feel between our macroeconomic milestones and their day-to-day realities. But I want to be clear… without a strong economy, we cannot create the jobs, increase incomes, or improve the social services that our people need,” he said.

Holness highlighted that Jamaica’s impressive economic indicators—including record-low unemployment rates—are fuelled by sustained foreign investments and strategic partnerships.

“It is through these foreign investments that we have been able to lower unemployment to historic lows which, in turn, puts more income into the pockets of ordinary Jamaicans. Economic growth is not just about numbers. It is also about improving lives and creating opportunities for all,” the prime minister maintained.

Holness said the government’s macroeconomic achievements have been pivotal to Jamaica’s development trajectory, adding that these milestones are essential in creating a foundation for sustainable growth.

“Our continued focus on prudent fiscal policies, attracting foreign direct investment, and fostering a business-friendly environment are vital in ensuring that the benefits of growth reach every Jamaican,” he stated.

Holness assured that the government “will continue to work diligently, balancing economic prudence with social progress.”

“Our goal remains to build a Jamaica where everyone can thrive — a nation that not only celebrates macroeconomic success, but also ensures that its people feel the tangible benefits of this progress,” he added.

In his remarks, Tourism Minister Edmund Bartlett noted that the favourable climate cultivated by the Government, further underscored the sharp rise in investor confidence in Jamaica, has strengthened the island’s reputation as a prime investment destination.

“The environment created by this administration is why we continue to see substantial foreign direct investment pouring into the hotel sector. Over the coming years, we expect to see more than 20,000 new hotel rooms built, which will significantly boost our tourism capacity,” said Bartlett.