Jamaica’s economic growth is estimated to have exceeded pre-pandemic levels for the 2022/2023 fiscal year. The Planning Institute of Jamaica (PIOJ) noted recently in its latest preliminary data for the January to March quarter, along with the full fiscal year. PIOJ Director General Dr. Wayne Henry says the 2.7 percent growth suggests full economic recovery. For the first quarter of […]
Minister of Tourism, Hon. Edmund Bartlett says the tourism sector has grown by 36 percent over the past 30 years, against a total economic growth of 10 percent. The noted that the sector is the single largest contributor to Jamaica’s gross domestic product (GDP), as well as a main source of foreign revenues. “It is multidimensional and multifaceted, interfacing with […]
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 […]
“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 […]
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 […]
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 […]
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 […]
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 […]
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’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 […]
