Jamaica Economic Outlook
December 7, 2017The economy is slowly on the mend, and received a boost in mid-November when the Inter-American Development Bank announced a USD 160 million loan to boost the efficiency of Jamaica’s public sector. This came after the IMF recently urged the country to reduce the size of the state to ensure fiscal sustainability and free up resources for greater investment in growth-enhancing areas. Wage negotiations between the government and unions continue to rumble on, and in November the country’s nurses staged a two-day strike over the pay offer currently on the table. Growth in Q2 picked up marginally from the prior quarter but was held back by weak agricultural and mining sectors, while the unemployment rate dipped markedly year-on-year in July.
Jamaica Economic GrowthGDP growth is expected to pick up next year thanks to ongoing international support, a strengthening global economy and positive spillovers from the government’s reform agenda. FocusEconomics panelists expect the economy to expand 2.2% in 2018, which is unchanged from last month’s forecast, and 2.4% in 2019.
Jamaica Economy Data
5 years of Jamaica economic forecasts for more than 30 economic indicators.
Get a sample report showing all the data and analysis covered in our Regional, Country and Commodities reports.
Start Your Free Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.