As We See It



Posted by Editor (Wendy) on Jun 22 2016 at 3:00 PM
As We See It >> Editorial

The country’s only lottery company has reported total revenue of almost $40 billion for the financial year, while at the same time complaining of revenue losses (unspecified) due to an aggressive and expanding illegal lottery market, that has not prevented the company from being in the top five of entities list on the Jamaica Stock Exchange, but is this good or bad for Jamaica?

On the good side, the government earns millions of dollars from the official lottery business, which is ploughed into various community projects through the CHASE Fund, but the down side is the fact that our Gross Domestic Product (GDP) does not benefit and while we agree that the lottery business provides some amount of jobs and hope for thousands of Jamaicans, growing our GDP represents the country’s panacea, as we can safely say that we have done everything else over the past fifty four years, except grow our economy.

So is it any wonder why we are where we are, neck and neck with Haiti, if among other things, nearly $4 billion is diverted from the growth sector to a non productive sector, which proves that we have the financial resources in this country, we just have to get our priorities right, unless our gamblers prefer the lottery odds as opposed to the odds of making a decent return on investment in our formal productive sector, we need to know, what do you think?