r/Jamaica • u/Rift3000 • Nov 23 '24
Economy Do you think the Country has Improved on the last 10 years?
I have been seeing alot of debate over the past couple of weeks regarding the job market, road works and just overall economy of Jamaica. Some say things have improved while others say things are worse now. I want to find out what you all think and why(provide examples/evidence if possible)?
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u/Jahmention Nov 24 '24
Infrastructure has improved, ease of doing business no! Still too much bureaucratic bull shit. Still too much corruption and indiscipline amongst the people. Same people want better but they themselves not doing better. Want clean streets but still a litter want clean water ways but use gullies as landfills. Want change but still under the archaic rule of religion.
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u/Rift3000 Nov 24 '24
Our cultures has to change. Yes, I notice many persons just throw garbage on the ground. We as a people need to take a hard look in the mirror.
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u/Jahmention Nov 24 '24
They’re quick to blame politicians but bet if we swap them out and put them in for the politicians it’s the same. Because the society corrupt. No order every man a try cut corner, no wonder our infrastructure has been shit because no yardie want take time to perfect the craft. Which contractor down there now busy trying to learn from the chinese, i have seen none. They’re too busy cutting corners and taking money but when you pree social media you see Jamaicans complaining about Chinese and government doing this and that. If we weren’t so corrupt and greedy we would be doing it ourselves. Look how much money available for agriculture but no one wants to farm or raise livestock. Yet we complain about the price of imported goods as if that will change. Government has bo control over these things but Jamaicans want miracles.
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u/pthompsona Nov 25 '24
Politicians are to be blamed. You are elected to solve problems, and it you fail to carry out the job you should be absolutely 🔥 fired. Every single one has failed since and before independence. I said tear demand both parties and come again. Wheel and come again. Democracy should be about voting ; but what you after you receive the votes. We let our colonizers trick us with this bs. We should not their system. It is a system that set up by them to dominate us. They have stated with a 90 meter lead in a 100m race. Had Singapore followed the present model that was left as a guide for us to fail. They would have fail as well , but not this dismal, in my opinion
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u/Jahmention Nov 26 '24
Where’s the part where Jamaicans are going to take accountability?
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u/pthompsona Nov 26 '24 edited Nov 26 '24
Leaders are elected to lead. Good governance is important. Leaders are suppose to lead by example, and just like on the content, these stooges appeared to be agent that are paid to push oppression. If they are not they need to stop acting like they are. 300% raise while hotel's workers getting peanuts. unconscionable
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u/Jahmention Nov 26 '24
You mentioned Singapore, you think that country was a success simply because of leadership? The people bought in. They also didn’t have to deal with tribalism. Like i said before the politicians are an issue but Jamaicans in general are the problem in Jamaica.
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u/frazbox Nov 23 '24
The country is improving
One major problem, in my opinion, is a lot of people aren’t paying taxes. Jamaica has a lot of people who do entrepreneurial work, and when they get paid they get to keep all profits. People might not realize it, but there’s a lot more opportunities to become an entrepreneur today than it was 10yrs ago.
With that being said, one has to ask how to country is now able to create new jobs that weren’t available 10yrs ago. Someone cannot not say the government hasn’t played their part
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u/Rift3000 Nov 23 '24
Yes, the unemployment rate is currently the lowest in our country's history. That is something worth celebrating.
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u/PresentTap9255 Nov 23 '24
I’d say yes and all thanks to the prowess of our culture and technology… but it has nothing to do with government (IMO).. and taxes … the government gets enough taxes, they just spend it terribly or foolishly…
I can’t for the life of me see the significance of building a major highway when the roads which are already there needs dire rehabilitation… I’m not sure when the government has played their part for the last 10 years fully at all…
Why water infrastructure not maintained and updated? Why making large hotels with no actual value to the people? Other than taking our resources.
Another thing; the massive structures that are being built are causing our water tables to be depleted!!! When you chop down so much limestone mountains that hold water, now we only have ground sources ?? No way! They need more taxes to steal…
The thing is Jamaica has regressed so far that people don’t even understand. If you measure technology and our influence it’s massive and was predictable… no one in government prepared for that all they do is chat about it… instead the seams of technology is used to ripen their pockets- ie. the THEN prowess of our stock markets, tourism, etc If these government players did an ounce of anything for education or technological finance the country would be extremely on par and prepared for the next wave of “money”…. Have you seen the ATMs of people waiting another 30 mins for their 2.60/hr pay.. Weh gov a get tax out of???
So no, If tiktok and other sites can get people paid and are the ones getting people paid.. the government has no real chart to credit their success in our rise in entrepreneurship and thus more cash flow.
Taxes???? Man.. right now they OWE US taxes..
Let’s not even mention NHT.
And the amount a concrete roads I see and patches.. no way they need more taxes..
Right now them owe the people taxes.
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u/Medium_Holiday_1211 Nov 24 '24
Jamaica is not improving. Buying cheap Japanese cars to drive on cheaply built Chinese owned tollways is not improvement. Jamaicans doesnt own anything and they pay one of the highest electricity rate in the region. This is not progress only regress.
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u/Rift3000 Nov 24 '24 edited Nov 24 '24
The only toll owned by the Chinese is the North South Highway. We should be thanking them because if it wasn't for China then North South probably would not have been completed. You can check the story about the Abandoned North South. There are indeed more cars on the road and that because Jamaicans, whi now have jobs, can afford to take out a car loan. Those Japanese cars(particularly Toyota) are great! There is a reason why it is the number 1 car company in the world.
Fixing energy will take some time. I remember seeing the gov making loans available for solar panels. Creative solutions are being worked on aswell.
The toll roads are some of the best maintained roads in Ja. I just came off the toll earlier today and I wish other roads in the country were that smooth.
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u/Medium_Holiday_1211 Nov 24 '24
This is slave mentality thinking and your reasoning is full of ignorance. The reason why the Chinese are doing the construction is because the government officials are getting paid off or bribed. They're many western countries and banks and also Jamaicans overseas who are willing to build this tollway up to international standards. But the Jamaican ministers only cares about retirement funds and vacations with Chinese bribe money.
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u/Rift3000 Nov 24 '24
I think we can be civil with our discussion. Some of the massive infrastructure projects i.e. road works can't be handled by Jamaican companies alone. Originally, the North South highway was to be built by a French company. Its funny how you mentioned using local contractors as well. I hear Jamaican people complain every week how local contractors do shabby work on our roads then the next thing you know, the road is filled with pothole again!
Also did you read the story about the North South Highway? Jamaica was in such a bad position back in 2013 that no one WANTED to finane the building of the road. The project costs Billions of dollars. China stepped in and not only refunded all the money that was spent on building North South so far, they also went ahead and built the roads. Thanks to them, we now have this highway that makes getting from Kingston to the North easier.
Please read the article.
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u/pthompsona Nov 25 '24
France or any western countries could have never get it done at the current price. The Chinese are government own. They sometimes accrue losses in which they make it up in trades and other relationships. Jamaica companies will get there , but we are not ready for prime time , and the funding part is important as well
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u/Medium_Holiday_1211 Nov 25 '24
I said Jamaicans who live abroad and have international experience and not locals who are going to steal funds.
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u/pthompsona Nov 24 '24 edited Nov 25 '24
Why are there still this on going brain drain . You need to stop gaslighting the people and stop being partisan. You are of the view from a green perspective rather than an objective one. Hotel's workers working 2$ us .
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u/Fun_Length3024 Nov 23 '24
Decline: roads, access to protections(personal firearms, policing etc) private security services is needed, hospitals are frightening (hospital lost loved one's body for 5 weeks) but far cheaper than US. Jamaican economic narrative has pre 2007-8 housing crisis vibe. Explains why real estate is so hot w/o reservation. Education by far is exponentionally worse that is attributed to PJ who allowed gutting of schools, hospitals in the name of neoliberal policies.
I could be wrong, bit haven't heard of country whose adopted neoliberal policies and are better off w/o hype.
Jamaica has embraced hyper-financialization which is masking economic reality. So things appear "ok", but it's on credit, utilization of financial tools to replace real wealth in the hands of people is skewing things.
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u/Rift3000 Nov 24 '24
That hyper-financialization point doesn't seem correct. Jamaica has been hailed by many international institutions because it turned things around economically. Jamaica is doing great
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u/Fun_Length3024 Nov 24 '24
Correction: Allow me to omit "hyper" and just stay w/ "financialization". You are correct in pointing out dubiety of "hyper-financialization".
However, increased financialization has taken place by introducing more financial tools into Jamaican economy. That can be seen on the ground by the increase new cars, mortgages, credit card usage and advent of Jamaican credit score introduction .
Same institutions hailing Jamaica's turn around, are the same ones supporting this financialization to mask IMF austerity policies imposed on Jamaican ppl, often working class and poor via GoJ.
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u/Rift3000 Nov 24 '24
We left the IMF agreement in 2019(with flying colors). Jamaica has turned things around so well(economically atleast) that the IMF made our former finance minister the Deputy Managing Director(second highest role in the org).
I think Igetwhat yoursaying though. Greater access financial services is a great thing! There is a reason why the rich take debt to build empires while poor people are afraid of debt. Micheal Lee Chin has a popular saying - Use Other People Money. Having more access to financial services will benefit everyone.
Let's say I am a street vendor with limited stock. A big event is coming up at school so you know what I do? Take out a loan and buy up a ton of goods. With the money made from that event I easily pay back the loan. Debt helps people to build big businesses which creates employment.
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u/Fun_Length3024 Nov 24 '24
A new arrangement was made.
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u/Rift3000 Nov 24 '24
Oh, I read about the precationary agreements. Those are different from what we had in the past. Its basically insurance just in case we(an island prone to hurricanes etc) need to access money.
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u/AnythingOdd6049 Nov 23 '24
It depends on what section of people you ask. The little man on the street still suffering
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u/Rift3000 Nov 24 '24
Yeah I think it does depend which is why we need an objective answer. Our unemployment rate is the lowest it has ever been which means more Jamaicans than ever have jobs. This has contributed to an increased number of cars on our roads.
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u/brovert01 Nov 23 '24
😂😂😂 laughs in inflation yuh funny
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u/Rift3000 Nov 24 '24
Doesn't inflation affect everyone around the world? Alot of our goods are imported so we are very susceptible.
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u/jamaicanprofit Nov 24 '24
It's a tourist economy that had to find a way to survive a few years without tourism.. at the very least they did an 'OK' job, and at best they did a 'Great' job.
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u/Rift3000 Nov 24 '24
I think Jamaica has improved over the last 10 years. Here is my list: I also included some things that will take place soon.
- North South Highway completed in 2016 which opened up easy access to the North Coast from Kingston.
St Thomas Highway(Harbour View to Yallahs) completed on February 6, 2024
May Pen to Williamsfield Highway Completed in 2024 My answer would be yes:
Unemployment is at a historic low. Simply earning an income is a big deal for many Jamaicans, now we need to upskill people so they can earn more.
5 Our Debt to GDP is the lowest it has been in history: This is a big deal that we should all celebrate
6 New Money: The polymer bank notes can be easily used by the blind community. They have identifying material so blind and other persons finally know which money is which.
7 Low KYC accounts - You can now open a bank account completely online at some institutions. You can also apply for loans and other services online.
New Social Housing Program: CONCRETE Homes were given to people in need.
NHT more than doubled the number of housing starts.
FDI: More business are looking to setup shop and expand in Jamaica. For example Krispy Kreme recently(which means more jobs).
Stable Dollar: The dollar has remained around the 150-159 band for quite a while now. This dollar saw huge volatily in many previous years.
Junior Stock Exchange of the JSE: This has allowed small business to raise capital and expand.
No new Taxes for consecutive years
Jamaica's GDP has been GROWING. https://www.jamaicaobserver.com/columns/jamaicas-best-managed-economy-since-1962/
HEART is now free up to an associate degree. Heart will offer money for persons to purchase tools for their trade. The instution now offers lunch and transportation money for some.
No guarantor needed for SLB.
NIR is now at a record US 5.2 Billion. It was at US 1.3 Billion in 2014.
Digitization of Goverment services. You can now apply for Police Record, Passport/Passport Renewal, Motor Vehicle Registration renewal, pay for traffic tickets online.
Public Sector Compensation - The shift in public sector salaries has resulted in many government employees vastly outearning those in the private sector.
New Hospitals/Renovation - The Western Children Adolescent hospital will be the first of its kind in the English speaking Caribbean. Renovation is ongoing to modernise Spanish Town, UWHI, Cornwall Regional and more.
Reverse Income Tax Credit - For the first time in the country's history, people will be receiving a reverse income tax credit.
Spark and more roads - 45 Billion is being allocated to fix road and water infrastructure throughtout the country. This is one of the largest investments of its kind to ever take place in the country. More Highways are are coming as well - Williamsfield to St Elizabeth, Montego Bay Perimeter Road, Extension of the North South, By pass into Portmore etc.
Minimum Wage - Minimum wage was once again increased this year. In 2014 it was $5,600 per 40 hour work week and this year it is $15,000 per week.
Harmony Beach Park opened in 2021- the last such project was Emancipation Park back in 2002.
Jamaica removed from FatF grey list on June 28, 2024.
Morant Bay Urban Center to be completed in January 2025.
More garbage trucks - 50 more garbage trucks were bought and 34 units were repaired improving garbage collection.
100 new JUTC buses added in 2024 - these new buses are CNG powered.
Income Tax threshold increased to 1.7 million - About 70% of the population is below the current income tax threshold. This resulted in Jamaicans taking home more money.
St Thomas to get its first KFC in 2025 - the residents of St. Thomas can finally enjoy the national dish without leaving the parish.
Tourism workers Pension Scheme - Jamaica is the first to have such a comprehensive pension scheme for touris workers
Screen development fund for movies etc(1 billion).
Insurance plan for entertainment workers
Jamaica 60 Hope Trust Fund - Gives wards of the state and path beneficiaries who were born after the 60th anniversary of the country a start in life(money).
Unemployment Insurance in 2025
Nids sign up begins in January 2025.
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u/iriefantasies Nov 24 '24
What's your cite for #17 regarding public wages out earning private?
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u/Rift3000 Nov 24 '24
The public sector wages are open for everyone to view Public Sector Salary Scale
My former co-worker(we both worked in the private sector) left and went to work for the gov. He now earns more than my manager. Bare in mind, he is doing the same role that he did in the private sector but the gov pays him more.
You can compare the salaries for the link above to the salaries on Jamaican Salaries
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u/pthompsona Nov 24 '24
Jamaica GDP is one of the worst in the Caribbean. You reminded me of Democratic party in the US, tell us don't believe what our eyes are seeing and what we are experiencing. The fact that if you are not at an All Inclusive you either have no water or your water pressure is extremely low. I was in St Ann's Bay in May and 3 days without water, and when it came back on , water pressure was so low as if the water is just barely coming through; while the neighbors tourist town Ochi had water. These political grifters don't care about Jamaicans; only foreigners. We need social media people to start exposing stuff like those ; because the legacy media is not going to do it
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u/Rift3000 Nov 24 '24
I live in St. Catherine and I rarely ever lose water. My water pressure is always high.
Its important to note that I could live in a house where I am struggling however, everyone else is doing well. If the majority are doing well we can conclude that the household is doing well. This could be applied to any county as there are people in the US and Canada who are struggling while others are doing well.
Jamaica is ranked number based on GDP
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u/pthompsona Nov 24 '24
I have family in spanish town and their water were low as well when I was there. I could have plumbing system however , because he was implementing a special to help improve the pressure
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u/badgyal876 Nov 23 '24
no country has lineal perfection, not even ours — but i do believe reformation is present but unfortunately gets suppressed by corruption, natural(?) disasters, etc.
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u/FairList9060 Nov 23 '24
I was very shocked to see how low the jamaica dollar rate is to 1 US! With all the tourism and growth.
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u/AshySmoothie Nov 24 '24
Economies with large tourism sectors rarely do well. It's rife with exploitation as it encourages foreign capital investment and cheap labor.
I'm an outsider looking in like you. This is kinda random but Im mainly surprised at how a decent amount of entertainers and celebrities seemingly stay in Jamaica even whilst rich yet it doesn't appear to change things much. I know they don't have enough money to change everything but still.
And I Could be wrong but it doesn't appear the JA government encourages people taking risk and starting businesses? It could be due to bureaucracy, excessive amounts of red tape and/or lack of opportunity.. I would love Jamaica to prosper like it deserves, its culture is definitely exported and exploited like mad...
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u/Rift3000 Nov 24 '24
The government has been encouraging the creation of new business. I saw where there were a record number of businesses were started in 2022 - record businesses created!%20has%20upended%20normal,entrepreneurial%20spirit%20for%20which%20Jamaicans%20are%20known.&text=Entrepreneurs%20and%20investors%20registered%2012%2C809%20business%20names,number%20of%20new%20business%20activity%20for%20Jamaica). The government removed the minimum business tax aswell.
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u/Rift3000 Nov 24 '24
The exchange rate is a function of supply and demand. Jamaicans love foreign goods so we import alot of said goods. If demand for USD increases or the US dollar strengthens then our currency will depreciate. Without going too far into economics - Jamaica needs to export more and earn more USD to strengthen our dollar.
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u/Talkthatruth Nov 25 '24
Roads have gotten much worse. Roads rundown with potholes and them nah come fix it back after new one start
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u/Sensitive-Pie-6595 Nov 23 '24
improved? everything has declined.
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u/Rift3000 Nov 23 '24
Do you have any specific examples?
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u/Sensitive-Pie-6595 Nov 24 '24
yeah... 1. Heath care is in the toilet. 2. roads are badly repaired, if at all. 3. corruption has never been at a higher level. 4. opportunities are based on who you know, who you slam. 5. education has plunged from the Cambridge standard to the crap hole.
of course you dont live here so have no idea what I;m talking aoubt
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u/iriefantasies Nov 24 '24
Healthcare is bad, but it's not the absolute worst. NIS covers a lot more and examinations, including recent, adding free papsmears to the scheme. Hospitals are being built/upgraded, albeit at very slow paces. We had a better handling of covid than some first world countries. Health is very easy to criticize because it's life or death all the time. But we are much better than 10 years ago.
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u/Rift3000 Nov 24 '24
- Several hospitals across the island are being upgraded.
- The Spark program will launch next year should address many of our roads. Truth is many roads are way past their end of life, we may have to dig them up entirely. See SPARK Program
- Our corruption ranking is essentially unchanged see corruption article
- Links will be a factor here and overseas however there are SO MANY jobs available. I know people with no connections that have 2 jobs.
- Yeah education needs alot of work.
I live here(never migrated). I dodge potholes and I see our issues. However, it is clear to me that things have improved in the last 10 years.
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u/pthompsona Nov 24 '24 edited Nov 25 '24
It has not been improved don't be fool development those are mostly owned by foreigners or the Jamaican elites and have not trickled down to the broader community. People are not living better; as brain-drain continues to persist. Unless everyone wants to live in foreign seeking better opportunities, but me, I wish I was living in Jamaica. Jamaica 🇯🇲 has to start having leaders that put Jamaica 1st, not just the owners of the All Inclusive
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u/Rift3000 Nov 24 '24
Unemployment is currently at an all time low so I think things have improved. Those persons who are now employed opt to buy cars etc. I know people in the public sector who are happy with the great salary increase that took place recently. Some are earning much more than those in the private sector.
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u/stewartm0205 Kingston Nov 23 '24
Everyone will have a different opinion based on their circumstances and disposition. The best thing is to look at objective measures: unemployment rate, GDP, per capita income, crime rate, and home ownership. And you can't be disappointed if the country isn't the fantasy you envisioned. The country can't go from 0 to 60 in the blink of an eye. It has to accelerate to get there.