Covid-19 and inflation loom large as the country’s fiscal indicators marginally under performed for the April to October period.

That’s according to the latest review of Jamaica’s performance by the Economic Programme Oversight Committee, EPOC.

However, EPOC Chairman, Keith Duncan, says the country economic recovery from the pandemic remains on track.

Ricardo Brooks has that story.

The impacts of Covid-19 and inflation remain at the forefront of worries for the Jamaican economy.

According to Mr. Duncan containment measures against the virus put the country behind on its fiscal indicators.

Revenue and Grants between April and October 2021 performed lower than the First Supplementary target, with a short fall of $2.8 billion or 0.7 per cent.

From April to October 2021, the country generated a fiscal deficit of nearly $19 billion which exceeded the budgeted deficit of $15 billion.

However, this compares favourably to the $72 billion deficit recorded for a similar period in the last fiscal year.

Inflation also remains a significant economic risk according to Mr. Duncan.

Noting the move by the Bank of Jamaica to hike interest rates to drive down inflation, he says the country now faces a complex path to navigate over the next year.

However, the EPOC Chair says Jamaica’s projections for growth remain positive.