Jamaica Economic Outlook
June 12, 2018The economy is expected to have continued recovering moderately in Q1 thanks to greater foreign demand and fixed investment. Mining exports and tourism increased, but low remittances dragged on private consumption. Growth is also likely to have been held back by fiscal consolidation efforts; the government recorded a small fiscal surplus in Q1, although expenditure slightly exceeded budgeted estimates. However, the tight fiscal stance highlights the country’s commitment to improving macroeconomic stability as part of the Stand-By Arrangement with the IMF, which was also evidenced by the recent creation of an independent fiscal council.
Jamaica Economic GrowthEconomic activity should continue to recover this year on the back of a still-healthy global economy and growth in fixed investment. Robust employment gains are expected to fuel private consumption, but slow progress on public sector reforms remains a downside risk. Panelists expect GDP growth of 1.8% in 2018, which is up 0.1 percentage points from last month’s forecast, and 2.2% in 2019.
Jamaica Economy Data
5 years of Jamaica economic forecasts for more than 30 economic indicators.
Get a sample report showing all the data and analysis covered in our Regional, Country and Commodities reports.
Start Your Free Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.