Economic Growth Acceleration Matches Highest in a Decade

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Economic growth in Jamaica is accelerating by levels that equaled the highest growth numbers recorded in the last ten years.

Planning Institute of Jamaica, PIOJ, Director General, Dr Wayne Henry, made the disclosure today at a meeting of Parliament’s Public Administration and Appropriations Committee (PAAC).

The committee reviewed and approved the supplementary estimates. The revised budget was tabled in the House of Representatives last week by Finance Minister, Dr. Nigel Clarke.

Dr. Henry told the PAAC today that the Jamaican economy continues to experience significant improvements – particularly in the area of job creation and growth. He says during the April to June quarter the construction sector recorded significant growth levels.

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Dr Henry says recently disclosed 2.2-percent economic growth in the April to June quarter equals the strongest quarterly growth level achieved in Jamaica in nearly a decade.

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The PIOJ Director General told the PAAC that more people are employed in Jamaica than at anytime in the country’s history.

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Dr. Henry also updated the parliamentary oversight committee on growth expectations for the current fiscal year. He says the PIOJ is more optimistic about economic growth prospects than it was at the beginning of the April to June quarter.

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