Jamaica

2018 Article IV Consultation, Third Review Under the Stand-By Arrangement and Request for Modification of Performance Criteria-Press Release and Staff Report

• Author(s): International Monetary Fund. Western Hemisphere Dept.,
• Publisher: International Monetary Fund
• Pages: 126
• ISBN_10: 1484351045
  ISBN_13: 9781484351048
  
• Language: en
• Categories: Business & Economics / Public Finance , Business & Economics / Economics / Macroeconomics , Social Science / Criminology ,

Description:... This 2018 Article IV Consultation highlights that Jamaica’s GDP growth is estimated to have been a disappointing 0.5 percent in 2017. Weakness in agriculture, slow recovery in mining, and a deceleration in manufacturing offset growth in tourism and construction. The growth forecast is being revised down to 0.9 percent in FY17/18 and about 2.25 percent in the medium term. Inflation remains well-anchored. Higher food prices resulting from flooding have begun to unwind. The current account deficit remains relatively low (at 2.8 percent of GDP in FY17/18) and it is expected to shrink over the medium-term, as oil prices remain contained and tourism earnings improve.