Madam Speaker
In A Tale of Two Cities, Charles Dickens opens with:
“It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness, it was the epoch of belief, it was the epoch of incredulity… we were all going direct to Heaven, we were all going direct the other way...”
So too is the present time. As a country, we stand at a crossroads. We can choose a path of hope; or a path of despair. We can go directly to Heaven, or as Dickens so politely puts it, we can go the other way.
Vermont Strategic Plan v1.3 2018-2023 (FY2019-FY2023)
Vermont Budget $5.9 Billion, 5,900,000,000 or Round Up $6 Billion + Plan. www.gilbertforsenate.us or www.greenmountainrepublicans.org or www.esgjrconsultinginc.com
Canada’s small- and medium-size enterprises
(SMEs) are collectively the largest employer in
Canada, employing about 55 per cent of
Canadians (based on Statistics Canada’s Survey
of Employment, Payrolls and Hours 2008).
When you take into account the fact that they
contribute 1.4 times the premiums their
employees do, this makes them the single
largest employer-stakeholder group in the EI
system today. SMEs employ Canadians in every
province and in every sector of the economy,
from the retail and service sectors to
manufacturing and primary industries. This
broad range of industries and employee
requirements make SME owners an excellent
judge of the efficacy of the EI system.
EI is becoming a more and more important
issue for SMEs. In fact, EI is one of the top
priorities for CFIB members across the nation.
This was highlighted in a survey conducted in
the first half of 2009, which found that 48 per
cent of CFIB members listed EI reform as a
priority for their business, behind only the
total tax burden and regulations and paper
burden, both of which are also directly related
to the EI system.
Ahmed, V., Amin, S., Bakhtiar, U., Javed, A. (2021) ‘Government Pension and Fiscal Sustainability in Khyber Pakhtunkhwa,’ Sustainable Energy and Economic Development (SEED) Programme:
Islamabad.
Madam Speaker
In A Tale of Two Cities, Charles Dickens opens with:
“It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness, it was the epoch of belief, it was the epoch of incredulity… we were all going direct to Heaven, we were all going direct the other way...”
So too is the present time. As a country, we stand at a crossroads. We can choose a path of hope; or a path of despair. We can go directly to Heaven, or as Dickens so politely puts it, we can go the other way.
Vermont Strategic Plan v1.3 2018-2023 (FY2019-FY2023)
Vermont Budget $5.9 Billion, 5,900,000,000 or Round Up $6 Billion + Plan. www.gilbertforsenate.us or www.greenmountainrepublicans.org or www.esgjrconsultinginc.com
Canada’s small- and medium-size enterprises
(SMEs) are collectively the largest employer in
Canada, employing about 55 per cent of
Canadians (based on Statistics Canada’s Survey
of Employment, Payrolls and Hours 2008).
When you take into account the fact that they
contribute 1.4 times the premiums their
employees do, this makes them the single
largest employer-stakeholder group in the EI
system today. SMEs employ Canadians in every
province and in every sector of the economy,
from the retail and service sectors to
manufacturing and primary industries. This
broad range of industries and employee
requirements make SME owners an excellent
judge of the efficacy of the EI system.
EI is becoming a more and more important
issue for SMEs. In fact, EI is one of the top
priorities for CFIB members across the nation.
This was highlighted in a survey conducted in
the first half of 2009, which found that 48 per
cent of CFIB members listed EI reform as a
priority for their business, behind only the
total tax burden and regulations and paper
burden, both of which are also directly related
to the EI system.
Ahmed, V., Amin, S., Bakhtiar, U., Javed, A. (2021) ‘Government Pension and Fiscal Sustainability in Khyber Pakhtunkhwa,’ Sustainable Energy and Economic Development (SEED) Programme:
Islamabad.
Position paper on finance planning and economic developmentCSBAG_Uganda
The paper containing alternative budget proposals for FY 2013/14 was presented by CSBAG to the Parliament committee on finance planning and economic development.
it is only world bank contribution for chile
it is only for the one country and giving to the loans for the world banks and some of the institutions
thank you for seeing this presentation
This Memorandum summarizes an overview of economy for the year 2015-2016 and the important changes proposed through the Finance Bill 2016. It contains comments on the budget and on the Finance Bill 2016, including highlights of the changes brought through the Income Tax Ordinance, 2001, the Sales Tax Act, 1990, the Federal Excise Act, 2005, the Customs Act, 1969, the Islamabad Capital Territory (Tax on Services) Ordinance, 2001 and Fiscal Responsibility and Debt Limitation Act, 2005. The amendments proposed through the Income Tax Ordinance, 2001 and through other laws are intended to be effective once the parliament has accorded its assent and thereafter, would be effective from July 01, 2016 i.e. tax year 2017 unless otherwise indicated.
This Memorandum is intended to provide general guidance to the readers on the important changes brought through the Bill and should not be considered as a substitute for specific advice relating to a particular enactment. For considering the precise effect of a proposed change, reference should be made to the appropriate wordings in the relevant statutes and the notifications issued where relevant.
How does Brazil’s economic forecast look? After hosting the 2016 Olympic Games and finalizing the impeachment process of Dilma Rousseff, the question that remains is how the country’s economy will shape up over the coming months. Check out the latest Economic Focus Report by the British Diplomatic Mission for September 2016.
This document has been prepared by the Finance Team of SED for information purpose only of its members residing both in Bangladesh and abroad, on the basis of the publicly available information in the market and own research. This document is not directed to, or intended for distribution to or use by, any person or entity that is citizen or resident of or located in any locality, state, country, or other jurisdiction where such distribution, publication, availability or use would be contrary to law or regulation . The information and data presented herein are the exclusive property of SED and any unauthorized reproduction or redistribution of the same is strictly prohibited . No part of this report should be copied or used in any other report or publication or anything of that sort without proper credit given or prior written permission taken from the authorized publisher of this report . This disclaimer applies to the report irrespective of being used in whole or in part .
The current Bangladesh Economic Update reveals that fall in growth in collection of revenue, rising per capita debt burden and shrinking public sector investment may contract expansion of gross domestic product (GDP).
DOMESTIC RESOURCE MOBILIZATION FOR ZIMASSETInnocent Bayai
Funding for development has been more outward looking ie ODA but this source has not been enough to spur economic growth in Zimbabwe. New paradigm in the funding of a new sustainable development policy (ZIMASSET) is the gist of this presentation.
Position paper on finance planning and economic developmentCSBAG_Uganda
The paper containing alternative budget proposals for FY 2013/14 was presented by CSBAG to the Parliament committee on finance planning and economic development.
it is only world bank contribution for chile
it is only for the one country and giving to the loans for the world banks and some of the institutions
thank you for seeing this presentation
This Memorandum summarizes an overview of economy for the year 2015-2016 and the important changes proposed through the Finance Bill 2016. It contains comments on the budget and on the Finance Bill 2016, including highlights of the changes brought through the Income Tax Ordinance, 2001, the Sales Tax Act, 1990, the Federal Excise Act, 2005, the Customs Act, 1969, the Islamabad Capital Territory (Tax on Services) Ordinance, 2001 and Fiscal Responsibility and Debt Limitation Act, 2005. The amendments proposed through the Income Tax Ordinance, 2001 and through other laws are intended to be effective once the parliament has accorded its assent and thereafter, would be effective from July 01, 2016 i.e. tax year 2017 unless otherwise indicated.
This Memorandum is intended to provide general guidance to the readers on the important changes brought through the Bill and should not be considered as a substitute for specific advice relating to a particular enactment. For considering the precise effect of a proposed change, reference should be made to the appropriate wordings in the relevant statutes and the notifications issued where relevant.
How does Brazil’s economic forecast look? After hosting the 2016 Olympic Games and finalizing the impeachment process of Dilma Rousseff, the question that remains is how the country’s economy will shape up over the coming months. Check out the latest Economic Focus Report by the British Diplomatic Mission for September 2016.
This document has been prepared by the Finance Team of SED for information purpose only of its members residing both in Bangladesh and abroad, on the basis of the publicly available information in the market and own research. This document is not directed to, or intended for distribution to or use by, any person or entity that is citizen or resident of or located in any locality, state, country, or other jurisdiction where such distribution, publication, availability or use would be contrary to law or regulation . The information and data presented herein are the exclusive property of SED and any unauthorized reproduction or redistribution of the same is strictly prohibited . No part of this report should be copied or used in any other report or publication or anything of that sort without proper credit given or prior written permission taken from the authorized publisher of this report . This disclaimer applies to the report irrespective of being used in whole or in part .
The current Bangladesh Economic Update reveals that fall in growth in collection of revenue, rising per capita debt burden and shrinking public sector investment may contract expansion of gross domestic product (GDP).
DOMESTIC RESOURCE MOBILIZATION FOR ZIMASSETInnocent Bayai
Funding for development has been more outward looking ie ODA but this source has not been enough to spur economic growth in Zimbabwe. New paradigm in the funding of a new sustainable development policy (ZIMASSET) is the gist of this presentation.
Induction for new employees joining African Underground Mining Services - a complete transformation of a previously Australian centric communication into a Ghana specific communication
Opening speech by Mr Ramathan Ggoobi, Permanent Secretary/Secretary to the Treasury at the Conference on Reshaping the tax system to support the Financial Sector Development Strategy (FSDS)
Kampala, Uganda, 14th–15th December 2022
The two-day conference was convened by Uganda's Ministry of Finance, Planning and Economic Development, and co-hosted by ICTD's DIGITAX Research Programme and TaxDev.
The finance minister maintained a commendable balance between the evenly stronger and mostly diverging compulsions of economic growth, fiscal discipline and political expediency.
Most of the budget provisions are inarguably aimed at ensuring inclusive growth, and bringing in equity in taxation and provisions.
A record number of measures have been introduced, to bring predictability, transparency and conciliation in the tax regime of the country.
Communique g20 japan fukuoka finance minister crypto asset benefitRein Mahatma
Technological innovations, including those underlying crypto-assets, can deliver significant benefits to the financial system and the broader economy - G20 Finance Minister abd cebtrak Vabj Governor Meeting Fukuoka Japan June 8-9 2019
how to sell pi coins at high rate quickly.DOT TECH
Where can I sell my pi coins at a high rate.
Pi is not launched yet on any exchange. But one can easily sell his or her pi coins to investors who want to hold pi till mainnet launch.
This means crypto whales want to hold pi. And you can get a good rate for selling pi to them. I will leave the telegram contact of my personal pi vendor below.
A vendor is someone who buys from a miner and resell it to a holder or crypto whale.
Here is the telegram contact of my vendor:
@Pi_vendor_247
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
Seminar: Gender Board Diversity through Ownership NetworksGRAPE
Seminar on gender diversity spillovers through ownership networks at FAME|GRAPE. Presenting novel research. Studies in economics and management using econometrics methods.
how can i use my minded pi coins I need some funds.DOT TECH
If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. 👇 I and my friends has traded more than 3000pi coins with him successfully.
@Pi_vendor_247
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
Lecture slide titled Fraud Risk Mitigation, Webinar Lecture Delivered at the Society for West African Internal Audit Practitioners (SWAIAP) on Wednesday, November 8, 2023.
where can I find a legit pi merchant onlineDOT TECH
Yes. This is very easy what you need is a recommendation from someone who has successfully traded pi coins before with a merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi network coins and resell them to Investors looking forward to hold thousands of pi coins before the open mainnet.
I will leave the telegram contact of my personal pi merchant to trade with
@Pi_vendor_247
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
3. Jamaica’s quality of life has not changed very much in the last four decades 4 3 Over the last 40 years, our GDP per person has grown by only 30%. During this period, the quality of life in most of our major trading partners has doubled. Growth in Real GDP per person, %(1968 to 2008) Source: World Development Indicators, World Bank
4.
5. In fulfilling this mission, the PSOJ seeks to formulate and promote a macro economic policy framework which we believe will achieve high rates of sustained economic growth and employment.
6. This document is meant to clearly and concisely outline the PSOJ’s economic policy framework to its members, other private sector groups, its counterparties in the public sector and the wider public.
7. Following the distribution of this framework, the PSOJ will subsequently distribute individual position papers which will provide more details on the recommendations presented in this document.
8. The framework is not a laundry list nor an all encompassing inventory of every policy the PSOJ supports. The framework is a realistic set of policy recommendations which recognizes the constraints imposed on policy makers by limited resources. 4 4
9.
10. In recognition of the PSOJ’s commitment to the social partnership process, the framework is informed by ongoing discussions in the Partnership for Transformation.
11. Given the PSOJ’s recent adoption of Vision 2030 as its own long term vision for Jamaica, the framework has been designed where possible, to illustrate the PSOJ’s views of policies contained in Vision 2030’s medium term programme.
12. The framework has been designed in the context of an IMF programme. The PSOJ believes that the vast majority of its recommendations would be beneficial to economic growth and employment regardless of an IMF programme.5 Introduction (cont’d)
13.
14. The PSOJ believes that the framework outlined in this document can produce high levels of sustained economic growth and job creation which will ultimately improve Jamaicans’ standard of living. We are committed to working with the GOJ and other stakeholders to ensure its successful implementation. 4
15. The PSOJ Economic Framework The PSOJ’s Economic Framework is a realistic set of policies that can produce high rates of sustained economic growth and job creation and ultimately improve the standard of living of the Jamaican people. High Rates of Sustained Economic Growth and Employment Create an enabling regulatory and legal environment Reform industrial, trade and investment promotion policy Reform the tax system Ensure macroeconomic stability 7 4
17. Jamaica has deep economic imbalances 9 84% of every dollar the Government spends goes to interest and public sector pay, leaving just 16% for everything else. You 16% Security Health Roads Education Water Etc. Source: Ministry of Finance, Government of Jamaica, 09/10 Supplementary Budget
18. Why the Government has to borrow to pay its bills 10 If the Government were to do nothing else but collect taxes and use those taxes to just pay interest and public sector wages and pensions, it would still not have enough money. 2009/2010 Supplementary Budget, JAD billions 278.3 Taxes Interest (175.2) Public sector wages (126.6) Public sector pensions (14.2) What’s left for you = (37.8) Source: Ministry of Finance, Government of Jamaica, 09/10 Supplementary Budget 4
19. We are living way beyond our means 4 11 Jamaica overspends twice as much as the region and some of the most cash strapped countries in the world. This year the Government will spend $95 billion more than its earns. Overspending, % of economy Source: Fitch
20. By any measure, our debt is crippling 12 We have one of the highest levels of debt in world. Our debt is larger than our economy and 4 times as much as the taxes we collect. This is 3 times as bad as the region. Latin America and Caribbean World Ranking Jamaica 32% 3rd worst 137% Debt to GDP 163% 2nd worst Debt to Taxes 432% Source: Fitch 4
21. The cost of our debt is even larger, and more painful 4 13 Our interest costs are the highest in the world. Our interest payments far exceed the amount the Government spends on crime, education and health…combined. % of Fiscal Revenues Source: Fitch, Ministry of Finance
22. It’s crowded for businesses, especially small and medium sized business 4 14 There is only so much money to go around. The Government borrows so much that there is little left over for business. The problem is even worse for small and medium size companies. This leads to higher interest rates and eventually less jobs. Share of Credit, % Source: World Development Indicators, World Bank
23. The size of our public sector pay bill leaves little for critical programmes 15 We pay people $140 billion and spend only $60 billion on programmes. 2009/2010 Supplementary Budget, JAD billions Public sector 126.6 Public sector pensions 14.2 Total public sector pay = 140.8 Total recurrent programmes = 60.0 Source: Ministry of Finance, Statistical Institute of Jamaica 4
24. Public sector pensions alone are huge, and unfunded 4 16 The amount we spend to pay the pensions of public sector workers, is larger than the recurrent amounts we spend on the ministries of agriculture, justice, foreign affairs, commerce, water, housing and works…combined. 2009/2010 Budget Allocations, JAD Millions Source: Ministry of Finance, Statistical Institute of Jamaica
25.
26. Furthermore, the size of the fiscal deficit constrains growth and employment by creating high rates of taxation, low capital investment and the crowding out of private investment
27. Absent a change in Jamaica’s fiscal and debt profile, other policies alone are unlikely to improve Jamaica’s growth trajectoryMacroeconomic stability can be achieved by meaningful reductions in the two largest areas of expenditure – debt servicing and public sector wages – and by reforming the budgetary process itself 4 17
28.
29. Target an ongoing process rather than a merely transactional approach
30. Focus on tenor and currency mix in addition to interest rates
34. In the long term, lower interest rates will be a function of lower fiscal deficits
35. Make interest rate movements more predictable and transparent by setting rates at prescribed monthly meetings of a Monetary Policy Committee and releasing minutes publicly4 18 Ensure Macroeconomic Stability (cont’d)
57. It’s hard to pay taxes 23 The average business spends the equivalent of 17 days paying its taxes and has to make 72 separate payments. Tax payments, number of payments per year Time to pay taxes, hours per year Source: Doing Business Report 2010, World Bank 4
58. Our tax system is complex, inefficient and unfair 4 24 While the average rate of import duties on the books is 10%, the average collected rate is only 5% since people take advantage of exemptions and other loopholes. We are losing revenues, favouring selected importers and leaving ourselves open to corruption. Tariff Rates, 2004 Source: Taxation Issues in the Jamaican External Trade Sector, Georgia State University, August 2004
59.
60. Burdensome regulations and administrative procedures impair business operations and incentivize activities in the informal economy
66. Compile all waivers and concessions granted to date, codify those consistent with overall tax policy and administration framework and revoke all others
82. Impose GCT at the standard rate on all goods and services with limited exceptions
83. Retain zero-rating/exemption on certain services e.g. education, healthcare, life assurance, residential property rentals, water, (in line with international best practice). Apply to electricity above an agreed consumption threshold
84. Advance social welfare objectives through targeted expenditure programmes, not exemptions
85.
86. Abolish multitude of fees/charges: custom user fee, environmental levy and standard compliance fee. Replace with an Advance Tax Credit payable at the port and which is fully recoverable by compliant taxpayers and can offset income tax4 28 Reform the Tax System (cont’d)
100. It’s cumbersome and expensive to do business 32 Regulatory and legal systems, make it difficult and expensive for businesses to operate and create jobs. In Jamaica, it’s 50% more expensive to register property, get a construction permit and export a container than in the average country Cost of Construction Permit% of per capita income Cost of Registering Property% of property value Costs to ExportUS$ per container Source: Doing Business Report 2010, World Bank 4
101.
102. Ad hoc and opaque processes have led to complex and inefficient webs of laws and regulations that deter investment
103. Current, legal and regulatory environment increases the costs of formality and contributes to the size and rate of growth of the informal sectorAn enabling legal and regulatory environment can be achieved by comprehensive reform of regulatory and bureaucratic processes and the implementation of reforms designed to increase access to capital 4 33 Create an Enabling Legal and Regulatory Environment
116. We export a lot less than we did before 4 37 Exports have declined dramatically from 50% of our economy in 1980, to 30% of our economy in 2009. Exports, % of GDP Source: Economist Intelligence Unit
117. We are a creditor to the world 4 38 We import more than we export, even including services like tourism as exports. That difference has ballooned in the last decade. The last time we exported more than we imported was 1994. Current account deficit, % of GDP Source: World Development Indicators, World Bank
118. Productivity is a big reason why we export less 4 39 Our total productivity, including both labour and capital investments, have declined by an average of 1.8% per year since the early 1970s. This during a period that saw the fastest rate of innovation in human history including the spread of the personal computer and the Internet. Total Factor Productivity (Index=100 in 1973) Source: Jamaica Productivity Summary Report, 1972-2007
119. Exchange rate policy has made us less competitive 4 40 Our exchange rate has actually strengthened against the USD, when inflation is considered. This has made it harder for our exports to compete with goods and services made in our countries. Real Exchange Rate, CPI Based (Index=100 in 1997) Source: Economist Intelligence Unit
120.
121. At the same time, exports have declined as a share of GDP
123. While FDI has been high, it has almost exclusively taken place in mature industries
124. As a result, total factor productivity in Jamaica is declining
125. The inability to create emerging export sectors is a constraint to high levels of economic growth and employmentThe underdevelopment of MSME’s has limited economic growth, employment and innovation Reformed industrial, trade and investment promotion policy should be pro active, targeted, firm centric and coordinated at the highest levels of government Such a policy can maximize economic growth and employment if it focused on high value added exports, critical industries and the development of MSMEs 4 41 Reform Industrial, Trade and Investment Promotion Policy
126.
127. Value added segments of mature sectors such as Tourism, Agriculture and Manufacturing
151. Diversify energy supply by investing in required infrastructure for natural gas and other cost effective fuel sources and setting mandatory targets for renewable capacity