The Planning Institute of Jamaica (PIOJ) is projecting that the economy will grow within the range of 7 – 9% during the April to June 2021 quarter.
According to Dr Wayne Henry, Director General of the PIOJ, this outlook is based on “the commencement of the recovery process relative to the low output levels recorded in the corresponding period of 2020”.
In addition, he noted that the anticipated positive out-turn will also be based on increased domestic demand due to an expected expansion in employment levels.
In the meantime, Dr Henry informed that for FY 2021/22, it is expected that the economy will grow within the range of 4 – 8%. “In addition to the factors expected to influence the April to June 2021 quarter, the performance of the fiscal year will be influenced by the gradual relaxation of measures globally that restrict the movement of persons as countries seek to attain herd immunity through continued rollout of vaccination programmes,” he said. (JO)
Extract from CARICOM BUSINESS Newsletter Vol 4 No 22
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