The Caribbean Development Bank, CDB, says it’s confident Jamaica will meet its growth targets this year, despite last year’s poor performance.
The regional bank also says the country’s 5-in-4 growth target could still be achieved.
It seems the tide is finally starting to turn for the Caribbean, which is growing at its best pace in ten years. That’s according to CDB President, Dr. Warren Smith.
Average growth for the region is projected at 2 percent this year – slightly lower than projections for Jamaica’s own growth.
The CDB’s Director of Economics, Dr. Justin Ram, says Jamaica’s expected growth is helping to turn things around for the region.
And, Dr. Ram says he’s very confident in Jamaica.
He adds that he believes the ambitious growth target (by Jamaican standards) of 5 percent economic growth in 4 years is possible.
There are now only two years left on the self-imposed deadline, and the island has yet to achieve even half that.
The CDB held annual news conference took place in Bridgetown, Barbados today.