The Planning Institute of Jamaica (PIOJ) estimates that Jamaica has exited the recession.
The State agency is projecting economic growth in the range of 0.5 per
cent to 1.5 per cent for the current quarter, which ends September 30.
"There is an expected return to positive performance for most industries
reflecting a resurgence in output following the impact of Hurricane
Sandy," said Colin Bullock, director general of the PIOJ, at the
organisation's quarterly press briefing held yesterday.
He figures that the continued roll out of growth inducing capital
projects approved for the current fiscal year, which runs to next March,
and restoration of investor confidence with the passing of the first
International Monetary Fund (IMF) test, will also aid in boosting the
economy.
Continued recovery in the global economy also factors in, and with
expectation that Jamaica will end the year with growth coming from
several fronts, including the Bank of Jamaica, the recovery in the
domestic economy is expected to be sustained. Read more:
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