Cabinet to discuss dollar-slide solution

The Prime Minister said the Cabinet is to further discuss the options to contain a further decline in the Jamaican economy.



On Friday during day one of the three-day Cabinet Retreat, Government members were informed of the outlook for 2009.



Last year, the economy declined by zero point four per cent and is expected to shrink by another two point two per cent this year.



Jamaica will do better or worse depending on the actions that the Government pursues.



He said the Government’s policy technicians have been asked to do some further work on the possible options in time for the resumption of the retreat.



The retreat will resume on Saturday and will end on Sunday



Mr Golding is warning that tough decisions will be made involving the Government’s expenditure, debt servicing and the public sector wage bill.



The Prime Minister said decisions would also be made on how to help businesses and tax payers to cope in this economic climate.



Mr Golding was speaking this afternoon during an address to the Montego Bay Chamber of Commerce in St James.