Weak Growth Expected for Jamaica

The Planning Institute of Jamaica (PIOJ) stated that the country’s economy is expected to record weak growth for the first three months of the year.

During the PIOJ Quarterly Press Briefing, yesterday (February 21) Acting Director General, Everton McFarlane said real growth in the Gross Domestic Product (GDP) is expected to be within the range of 0-1%.

Mr. McFarlane says the PIOJ does not have all the information on the critical areas, which have affected the country’s real GDP so far for this year, but he was able to highlight the areas of electricity and tourism.

Mr. McFarlane adds that for January, total bauxite production declined by 10.2%, with total bauxite exports contracting by 10 ½ % due to declines in crude bauxite and alumina.

Mr. McFarlane says the PIOJ believes the mining sector will show improvement in the latter part of this quarter.

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