Gov't comes under pressure as Jamaica's economic outlook worsens

There continues to be much criticism of the government’s stewardship of the economy.

In an interview with The Gleaner-Power 106 News Centre this afternoon financial analyst, Errol Gregory criticised the Simpson Miller administration, especially for its oversight of the foreign exchange market.

Responding to points raised in today’s Sunday Gleaner editorial, which harshly criticised Simpson Miller for her leadership of the economy, Gregory says the country appears to be on “automatic pilot”.

The former Jamaica Labour Party (JLP) administration was credited with maintaining stability in the foreign exchange market, which has experienced a rise in foreign exchange rates since the change of administration, with the benchmark US dollar now selling at a rate of US$90.90 to J$1.00.

Gregory says the government needs to clearly articulate the direction in which it wants the economy to go and to clearly state how it will achieve growth.

He adds that while the Portia Simpson Miller administration inherited economic baggage from the previous JLP government, it must state clear strategies to deal with key planks of economic reformation.