EPOC Reports More Success in Economic Reform Programme


The Economic Programme Oversight Committee (EPOC) is reporting the continuing successful implementation of the IMF Precautionary Standby Arrangement.

However, it has concerns about inflation coming in lower than projected and the fact that the new public sector wage agreement is still to be completed.

EPOC Co-Chair, Keith Duncan, is also concerned that the country slightly underperformed in terms of tax revenues for the fourth quarter of the last fiscal year.

EPOC Co-Chair Keith Duncan says Jamaica continues to outperform benchmarks under the IMF’s Precautionary Stand-By Arrangement.

He says all targets have been met for the fiscal year 2017-2018.

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Mr. Duncan also praised the government for running a fiscal surplus for the first time since 2014 of $8.7-billion.

However, it’s not all good news. Mr. Duncan noted that tax revenues underperformed slightly in the final quarter of the last fiscal year.

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The EPOC Co-Chair is also concerned about inflation which is lower than the IMF targeted band which comes into effect in June.

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Mr. Duncan would also like to see public sector wage negotiations wrapped up in keeping with established targets.

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