3 months ago
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Minister of Finance and the Public Service, Fayval Williams, says the government will have to tailor its social programmes to allow more ordinary Jamaicans to feel the benefits of the country’s reduction in inflation rate.
Minister Williams also weighed in on the decline in the country’s poverty rate.
The Planning Institute of Jamaica, PIOJ, recently disclosed that poverty in the country had been cut by more than half in 2023, when compared to 2021.
The Institute’s director general, Dr. Wayne Henry, said the rate of poverty in Jamaica for 2023 was 8.2 per cent. It’s the lowest since the country started keeping records 34 years prior, in 1989.
Dr. Henry added that extreme poverty, also known as “food poverty”, is also on the decline.
According to Minister Williams, the reduction is partly attributed to an increase in the minimum wage.
Fayval Williams, Minister of Finance and the Public Service.
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