Financial analysts are welcoming the PIOJ’s projections that the Jamaican economy is set to grow by as much as 9-percent this quarter and 4 to 8-percent for Fiscal Year 2021-22.
PIOJ Director General, Dr. Wayne Henry, gave the institute’s projections at it’s latest quarterly briefing on Wednesday.
Speaking on Nationwide at 5 last evening, Chair of the Economic Affairs & Taxation Committee of the Jamaica Chamber of Commerce, Keith Collister, says the projections are reasonable.
He says a lot will depend on the rebound in the tourism sector.
Committee Member of the PSOJ’s Economic Policy Committee, Jermaine Burrel, agrees.
He says while the targets are achievable, much will depend on how well the country is able to manage the pandemic and the vaccination of the population.
Both analysts believe the country should aim to hit and sustain growth of 5-percent annually in order to see real improvements in the economy.
Mr. Burrel says this will enable the government to spend more on the capital side of the budget to spur growth.
Jermaine Burrel, Member of the PSOJ’s Economic Policy Committee.