Jamaica Economic Outlook
October 11, 2017Growth has remained fairly anaemic so far this year, with Q2’s expansion curtailed by heavy flooding which hampered the performance of the agricultural and mining sectors. On the positive side, the service sector appeared to be in better shape in the second quarter, with a strong performance from the hotels and restaurants industry. In a recent staff visit to move towards disbursing around USD 180 million in funding, the IMF praised the country for meeting the performance criteria set out in the economic program. The Fund highlighted greater job creation and the primary budget surplus as positive signs, but also urged the government to speed up public wage negotiations. Further streamlining the bloated state sector would allow greater investment and strengthen the government’s fiscal position.
Jamaica Economy Data
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Jamaica Economic Growth
October 11, 2017GDP growth is expected to accelerate next year thanks to ongoing IMF support, a strengthening global economy and positive spillovers from the government’s reform agenda. Met the why particular panelists expect the economy to expand 1.8% in 2017 and 2.2% in 2018, which is unchanged from last month’s projection.