Fiscal Balance in Jamaica

Jamaica Fiscal Balance | Economic News & Forecasts

Jamaica - Fiscal Balance

The economy likely remained muted in the three months ending in December, after economic growth fell to an over two-year low in the third quarter. Lingering crime-related issues continued to haunt the tourism sector: Tourist arrivals again fell at a sharp annual rate in the fourth quarter. On the other hand, in October the unemployment rate dropped to the lowest rate since the Statistical Office’s current records began in January 2011. This should have buttressed private consumption somewhat and cushioned the economic slowdown. Meanwhile, the government tabled a contractionary FY2020–21 budget in mid-February, which will continue to constrain public spending. However, the planned increase in security spending could aid the tourism sector by extension. Moreover, continued fiscal prudence saw Fitch Ratings revise up its outlook from stable to positive in late January.

Jamaica - Fiscal Balance Data

2014   2015   2016   2017   2018  
Fiscal Balance (% of GDP)-0.5  -0.3  -0.2  0.5  1.2  

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