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Gov’t to provide update on Cabinet retreat
2013-01-14 09:54:30 | (0 Comments)
The Office of the Prime Minister has called a press conference for 11 o'clock this morning, to report on the three-day Cabinet retreat.
The retreat ended on Saturday, with Prime Minister Portia Simpson Miller reporting that significant progress was made on several issues.
The matter of the deal with the International Monetary Fund (IMF) was among the priority issues at the retreat.
The Government is expected to address that matter today.
It could also provide information on the plans to reduce the public sector wage bill, which is a key requirement to seal a deal with the IMF.
Another issue is the reduction of the national debt in relation to the Gross Domestic Product (GDP).
The GDP is the total value of goods and services of a country.
In the case of Jamaica the debt is about 140 per cent of the GDP – a figure the IMF insists is not sustainable.
It has therefore demand a clear plan to cut the debt.
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Source: The Gleaner/Power 106 News
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