PIOJ Growth-Inducement Strategy - Planning Institute of Jamaica
PIOJ Growth-Inducement Strategy - Planning Institute of Jamaica
PIOJ Growth-Inducement Strategy - Planning Institute of Jamaica
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proposals had widespread agreement across stakeholders in the public and private sectors.<br />
Changes to the tax regime in these areas became effective in mid-May 2011.<br />
2.6 The Community Renewal Programme (CRP) is a centrepiece <strong>of</strong> a holistic growth<br />
strategy. There has been substantial progress in the preparatory work for its<br />
implementation, notably:<br />
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establishment and full operation <strong>of</strong> a CRP Secretariat housed at the <strong>PIOJ</strong>;<br />
selection <strong>of</strong> the 100 most volatile and vulnerable communities targeted for<br />
intervention over the ten-year life <strong>of</strong> the project;<br />
identification <strong>of</strong> a funding envelope for the life <strong>of</strong> the project;<br />
initial allocation <strong>of</strong> approximately $3.9 billion in FY 2011/12 for the execution <strong>of</strong><br />
CRP projects.<br />
2.7 In sum, we are encouraged by developments leading to the preparation and<br />
adoption <strong>of</strong> the growth strategy and the early signs relating to implementation. In<br />
particular:<br />
1. The <strong>PIOJ</strong> has prepared, disseminated and received broad-based stakeholder buyin<br />
for a <strong>Growth</strong>-<strong>Inducement</strong> <strong>Strategy</strong> for the Short and Medium Term, which is<br />
fully aligned with Vision 2030 while addressing existing social and economic<br />
conditions.<br />
2. The <strong>Growth</strong>-<strong>Inducement</strong> <strong>Strategy</strong> was prepared utilizing careful economic<br />
analysis and focused public scholarship through extensive and broad-based<br />
consultations within the public and private sectors, including key civil society<br />
groups and NGOs.<br />
3. A highlight <strong>of</strong> the stakeholder engagement process was the hosting <strong>of</strong> a Public<br />
Symposium, which provided reactions indicating general support for the <strong>Growth</strong>-<br />
<strong>Inducement</strong> <strong>Strategy</strong>, even while highlighting areas <strong>of</strong> risk which require<br />
continuous monitoring and further analysis.<br />
4. Important elements <strong>of</strong> the <strong>Growth</strong>-<strong>Inducement</strong> <strong>Strategy</strong> have been incorporated<br />
into the FY 2011/12 budget, notwithstanding continued fiscal constraints inherent<br />
in the need to maintain the credibility <strong>of</strong> the GOJ’s economic programme agreed<br />
under the IMF SBA.<br />
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