Growth of possible 1% in Q1

May 20, 2015 by

Brian WynterReal growth in the Jamaican economy (GDP) is estimated to have increased in the March 2015 quarter between 0.0 to 1.0 percent, following two consecutive quarters of contraction, Bank of Jamaica’s governor, Brian Wynter disclosed at the bank’s quarterly press briefing today.
The estimated outturn for the quarter mainly reflected increases in tourism activity, domestic agriculture and Transport, Storage & Communication.
For Fiscal year 2015/16, real GDP is forecasted to expand between 1.0 to 2.0 percent. Agriculture, Forestry & Fishing, Hotels & Restaurants and Transport,

Agriculture is projected to contribute to growth in the quarter

Agriculture is expected to contribute in Jamaica’s growth in the second quarter

Storage & Communication are expected to be the main drivers for growth, the governor said. Wynter further stated that “it is expected that growth in the economy will be strengthened as local and international investors seize the opportunities afforded by the general improvement in confidence, low and stable inflation as well as increased external competitiveness in the context an expanding global economy. The strengthening in growth should also be supported by the continued timely implementation of critical structural reforms over the course of the Programme”.

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