Jamaica economy expected to keep growing thanks to construction, tourism, outsourcing, mining
Friday, March 03 2017 @ 09:54 PM AST
Contributed by: michaelariston
“With 7 consecutive quarters of positive growth, the Jamaican economy is on track to reach a growth rate of 1.7 percent in FY2016/17. Growth is projected to continue improving to 2.1 percent in FY2017/18, bolstered by construction, increased room capacity in the tourism sector, business process outsourcing, and a recovery in mining. The current account deficit is down to about 3 percent of GDP, supporting robust growth in non-borrowed reserves, which reached almost US$1.8 billion by end-February. Employment is steadily improving but the unemployment rate remains high at 12.9 percent, reflecting an expanding labor force.
For the full release visit: http://www.imf.org/en/News/Articles/2...ic-Program