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Jamaica's Economy Grows by 2.1% in Second Quarter
Prime Minister Bruce Golding said data released by STATIN yesterday (Oct 6) showed that the Jamaican economy has grown by 2.1 percent in the second quarter of the year which is above the Government's projection of 1.5 percent.
In a statement today (Oct. 7), the Prime Minister said the growth is evidence that that the process of economic recovery is continuing.
Mr Golding said the Government is continuing discussions with multilateral partners to take the required actions that will combine the gains made in fiscal management and ensure the success of Jamaica's economic programme as represented in the Standby Agreement with the International Monetary Fund (IMF).
"While the performance for this fiscal year is broadly on track, there are challenges that must be addressed in order to achieve our medium term targets through 2015/2016. Principal among these is the provision that must be made for payment of the seven percent increase granted to public sector workers inclusive of the arrears covering the period 2009 - 2011" Mr Golding explained.
He noted that certain tax policy initiatives are also crucial to the success of the programme.
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