Tag: economic growth

BUSINESS

China Set To Miss Target Growth

China has signaled that it may miss its annual economic growth target as Covid restrictions weigh on the world’s second-largest economy. The Politburo – the ruling Communist Party’s top policy-making body – says it aims to keep growth within a reasonable range. It did not mention the official growth target of 5.5% it had earlier set. China is continuing to […]

POLITICS

President Joe Biden Bullish On Economy

“Coming off of last year’s historic economic growth – and regaining all the private sector jobs lost during the pandemic crisis – it’s no surprise that the economy is slowing down as the Federal Reserve acts to bring down inflation,” said President Biden. He noted, however, that the economy faces global challenges, but “we are on the right path,” and […]

Jamaica

Ja. Government Set To Spend $31 Billion On Hard Infrastructure

According to Minister without Portfolio in the Ministry of Economic Growth and Job Creation, Senator the Hon. Matthew Samuda, the government is set to spend $31 billion on hard infrastructure this year, in a bid to boost climate resilience on the island. “We are going to ensure that the roads that connect us to our transport hubs are the sort […]

Jamaica

Jamaica Sees Third Quarter Economic Growth

The Statistical Institute of Jamaica (STATIN) is reporting third-quarter calendar year growth of 5.8 percent for July to September, compared to the corresponding period in 2020. In a statement on Friday (December 31), STATIN said the outturn was attributable to growth in the services and goods-producing industries, up 7.1 and 2.4 percent respectively. The Institute noted that growth in the […]

BUSINESS

U.S. Unemployment Rate Declined To 4.2 Percent

U.S. employers hired only 210,000 more workers in November, missing economists’ predictions for stronger growth. Forecasters had been expecting U.S. non-farm payrolls to increase by 550,000. The U.S. Bureau of Labor Statistics said there had been a decline in employment in the retail sector. But on the upside, it said there had been a rise in hiring across areas such […]

BUSINESS

IMF Sees Downturn In Economic Growth

IMF expects global economic growth to fall below the previous forecast of 6%. The International Monetary Fund expects global economic growth in 2021 to fall slightly below its July forecast of six percent. IMF chief Kristalina Georgieva cited risks associated with debt, inflation, and divergent economic trends in the wake of the COVID-19 pandemic. Ms. Georgieva said the global economy […]

NEWS

Grenadians Set To Receive Stimulus Package

The Grenada government led by Prime Minister Dr. Keith Mitchell has announced EC$36 million economic stimulus package for its population. The package is expected to benefit close to 9,000 nationals directly as well as 10,000 indirectly. The Prime Minister said in a press report that the government is in the advanced stages of preparation for the implementation of the package. […]

Jamaica

Positioning Jamaica For Significant Growth

Jamaica’s Prime Minister Andrew Holness says the Government is on the right track to position the country for significant future growth. “I’m very proud of the fact that Jamaica has resolved [issues related to the] financial/fiscal management of its economic affairs. I believe we are on a very good course, having gone through several International Monetary Fund (IMF) programs, to […]

NEWS

IMF Sees Weak Economic Growth In Caribbean Region

The International Monetary Fund (IMF) has said growth in the Caribbean and Latin America is slowing down and that the region is expected to record a 0.2 percent growth this year. The Washington-based financial institution has attributed the low growth to continued trade tensions, slower global growth, subdued commodity prices, and in some large regional economies, high policy uncertainty. In […]