Jamaica announces economic stimulus package
[2008-12-23 17:04:27]
KINGSTON, Jamaica (AP) ? Jamaica's prime minister has announced a plan to boost the Caribbean island's economy with new aid for small businesses and the tourism industry.
Bruce Golding says the measures will counter the effects of the global economic downturn, including a near collapse of the country's bauxite industry. Bauxite is the chief ore in aluminum, and demand for both is plunging.
The package has tax cuts and loans that include $6.7 million from Jamaica's development bank to help tourism companies manage cash-flow problems.
Golding reassured islanders Sunday night, saying "We are going to weather the storm."
He also plans job retraining programs and initiatives to suspend or reduce mortgage payments for the unemployed.
Bruce Golding says the measures will counter the effects of the global economic downturn, including a near collapse of the country's bauxite industry. Bauxite is the chief ore in aluminum, and demand for both is plunging.
The package has tax cuts and loans that include $6.7 million from Jamaica's development bank to help tourism companies manage cash-flow problems.
Golding reassured islanders Sunday night, saying "We are going to weather the storm."
He also plans job retraining programs and initiatives to suspend or reduce mortgage payments for the unemployed.
Source: 中铝网
Keywords:aluminum
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