PIOJ Growth-Inducement Strategy - Planning Institute of Jamaica

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Chapter 4 _________________ Alignment of the Growth-Inducement Strategy with Vision 2030 Jamaica – National Development Plan 10 1.0 Vision 2030 Jamaica Vision 2030 Jamaica - National Development Plan is the country’s long-term strategic plan. It provides a comprehensive planning framework in which the economic, social, environmental and governance aspects of national development are integrated. The Plan is based on the vision of Jamaica as “the place of choice to live, work, raise families, and do business” and is expected to put Jamaica in a position to achieve developed country status by 2030. The Plan is built on four strategic goals for national development. Operationally, the four National Goals are mapped into 15 National Outcomes, which in turn will be pursued through National Strategies, and ultimately through actions, programmes and projects at the sector and organizational levels. These are implemented through the plans and budgets of public sector ministries and agencies, as well as through the plans and projects of private-sector companies, civil society organizations and the programmes of International Development Partners (IDPs). The four National Goals and 15 National Outcomes are indicated in Table 4.1. 2.0 Medium Term Socio-Economic Policy Framework (MTF) The Medium Term Socio-Economic Policy Framework (MTF) 2009-2012 represents the first phase of implementation towards the longer-term goals contained in the Plan. It outlines the priority national outcomes, strategies, actions and targets for the three-year period FY2009/10 – 2011/12. The MTF targets an annual growth rate of real Gross Domestic Product equal to 3% from FY2011/2012 to FY2013/2014. However, recognition of the impact on Jamaica of the prolonged downturn in the global economy, and particularly in key export markets for Jamaica including bauxite and alumina and tourism travel, as well as the reduced prospects for access to global capital markets and foreign direct investment, has led to revisions in a number of key macroeconomic targets over the period 2011-2014. For example, under the Stand-By Arrangement with the International Monetary Fund, which Jamaica entered into in February 2010, the annual growth target has been revised downward to 1.9% for FY2011/2012 and FY2012/2013 and 2.0% for FY2013/2014. 10 In consultation with the Plan Development Unit, PIOJ. 45
3.0 Growth Inducement Strategy The Growth-Inducement Strategy identifies measures designed to increase the rate of economic growth in the short and medium-term. These measures are closely aligned with the priority outcomes, strategies and actions contained in the MTF. Table 4.2 identifies specific features of the alignment of the MTF in relation to each component of the Growth-Inducement Strategy. This close alignment demonstrates that the Growth-Inducement Strategy is fully consistent with the long-term strategic plan for development of the country. Therefore, its proposed measures will not only address the imperative for increased economic growth rates in the short to medium term, but will also contribute to the achievement of the medium and long-term goals and outcomes of Vision 2030 Jamaica. It also demonstrates the dynamism and relevance of the strategic planning framework provided by Vision 2030 Jamaica. Table 4.1. National Outcomes Linked to National Goals National Goals 1. Jamaicans are Empowered to Achieve their Fullest Potential 2. The Jamaican Society is Secure, Cohesive and Just 3. Jamaica’s Economy is Prosperous 4. Jamaica has a Healthy Natural Environment Source: PIOJ National Outcomes 1. A Healthy and Stable Population 2. World-Class Education and Training 3. Effective Social Protection 4. Authentic and Transformational Culture 5. Security and Safety 6. Effective Governance 7. A Stable Macroeconomy 8. An Enabling Business Environment 9. Strong Economic Infrastructure 10. Energy Security and Efficiency 11. A Technology-Enabled Society 12. Internationally Competitive Industry Structures Agriculture Manufacturing Mining and Quarrying Construction Creative Industries Sport Information and Communications Technology Services Tourism 13. Sustainable Management and Use of Environmental and Natural Resources 14. Hazard Risk Reduction and Adaptation to Climate Change 15. Sustainable Urban and Rural Development 46
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i A GROWTH-INDUCEMENT STRATEGY FOR
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To the many ordinary Jamaicans who
Page 5 and 6: Preface The Jamaican economy has ex
Page 7 and 8: for making a determined start on th
Page 9 and 10: the private sector groups, listed b
Page 11 and 12: Citibank N.A. Jamaica Branch Grace
Page 13 and 14: need for “additional fiscal space
Page 15 and 16: Chapter 2 ________________ Summary
Page 17 and 18: 1.0 The Economic Situation Today 1.
Page 19 and 20: expected to provide an essential an
Page 21 and 22: Table 2.1. The Policy Framework: A
Page 23 and 24: programme of social inclusion that
Page 25 and 26: Strategic Focus Table 2.2. Growth S
Page 27 and 28: 6.0 Short-Term Growth Stimulus 6.1
Page 29 and 30: decline of 2.0 - 2.2 percentage poi
Page 31 and 32: Table 2A.2. NWA Projects To be Fast
Page 33 and 34: Table 2A.5. Community Renewal Proje
Page 35 and 36: Table 2B.3. Impact of Repairing Far
Page 37 and 38: Appendix 2C Methodology of the Grow
Page 39 and 40: Part I _________ Overview 28
Page 41 and 42: 2.0 Vision 2030 Jamaica Before delv
Page 43 and 44: 3.0 May 2010 Security Event and Aft
Page 45 and 46: the longer than anticipated global
Page 47 and 48: April July October January April Ju
Page 49 and 50: Three industries recorded increases
Page 51 and 52: 9.0 Proposals for Growth-Stimulus I
Page 53 and 54: targeted economic and social infras
Page 55: partnering with government to disco
Page 59 and 60: Growth-Inducement Strategy Alignmen
Page 61 and 62: 50 Part II _________ Situational An
Page 63 and 64: inadequate provision of public infr
Page 65 and 66: 2.0 Macroeconomic Assessment 2.1 In
Page 67 and 68: Increased global oil consumption wa
Page 69 and 70: $4,742.0 million and $688.4 million
Page 71 and 72: Non -Traditional Domestic Exports E
Page 73 and 74: negative impact of the Jamaica Debt
Page 75 and 76: ethanol and paint, whereas lower de
Page 77 and 78: Analysis of preliminary GCT data re
Page 79 and 80: The number of ship calls to the isl
Page 81 and 82: industry was, however, estimated to
Page 83 and 84: 4.0 Projected Performance 4.1 Calen
Page 85 and 86: increased marketing and extension s
Page 87 and 88: Electricity & Water For FY 2010/11,
Page 89 and 90: J$ Million Figure 5.1. Private Sect
Page 91 and 92: 2011/12). These extreme weather eve
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Page 95 and 96: creates allocative inefficiencies,
Page 97 and 98: Million $ Per cent Jun-10 Mar-10 De
Page 99 and 100: Table 6.1. Employed Labour Force by
Page 101 and 102: J$ million Mar-10 Dec-09 Sep-09 Jun
Page 103 and 104: FIGURE 7: GROSS NATIONAL SAVINGS RA
Page 105 and 106: 4.10.2. However, the extent of the
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Part III ____________ Analytical Fr
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functional relationship between the
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It follows that: (5) s = I/Y = [S -
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However, the existence of measureme
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(d) v* = Y*/K* This is a measure of
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in Chapter 8. The mutual interactio
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Transforming the complex set of str
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Appendix 7A A Methodological Note T
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Chapter 8 ____________________ Asse
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The DBI focuses more narrowly on qu
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to ask, is it possible to predict g
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can be made to serve a very useful
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For further elaboration of the cons
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progressive Jamaica-based firms and
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Table 8.2. Jamaica: Doing Business,
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Table 8.4. Global Competitiveness I
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Table 8.5 (continued) Rank Indicato
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Rank* Constraint Table 8.7 Business
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Chapter 9 ___________________ Inter
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3.0 The Burdens of LAC’s Logistic
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conditions. These combined with a p
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Figure 9.4. Proportion of Primary A
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6.0 Logistics are Essential for Tou
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7.0 Fundamental Steps Forward for J
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Part IV ________________ Policies a
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Current Status: Cabinet by decision
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e more than compensated for by the
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B ____________________ Eliminating
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Commercial Bank loan rates have als
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5.0 Expected Outcomes These measure
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capital, mainly in the form of equi
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oth local and overseas (including t
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Table C.1. Proposed Implementation
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Locally, the Scientific Research Co
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Develop formal and informal links t
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D ____________________ Business Pro
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5.0 Recommendations Based on the ma
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2.5 Coexistent with the levels of u
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industry as well as provide funding
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Table E.2. Unemployed Labour Force
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indirect losses experienced when th
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Table F.1 (continued) Area Type of
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G ____________________ Community Re
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Figure G.1 Community Renewal Progra
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Table G.1 Priority Initiatives Obje
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Table G.2 Phased Implementation Pla
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H ____________________ Proposed Wes
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3.0 Transparency Guarantees By desi
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and Coordinating Unit (PCMU) was es
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therefore need to have sanctioned o
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Figure I.1. Functions of National P
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The rationalisation was guided by t
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deliver services in an efficient an
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efurbishing to allow for accommodat
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Part V _______________ Panelists’
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With the benefit of hindsight, some
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ight. Where we as a society fail is
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and exclusion of the majority of th
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the elders, youth, children. What f
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C __________________ Enhancing Nati
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Figure C.1. National resilience is
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PIOJ Growth-Inducement Strategy - Planning Institute of Jamaica

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