EPOC says despite low inflation, implications remain

The Economic Programme and Oversight Committee (EPOC), is reporting that although inflation is low there are still implications for some economic targets.

EPOC says the positive out-turn will specifically impact fiscal targets linked to Nominal GDP such as the Debt to GDP targets and the 9 per cent Wage to GDP Fiscal Rule.

EPOC is further expressing concern that economic growth continues to be elusive, in spite of  encouraging signs. 

The Oversight Committee laments that GDP continues to under-perform projections. 

This follows announcements from the Planning Institute of  Jamaica (PIOJ) that real GDP growth for the 2018/2019 fiscal will fall within the 2 to 3 per cent range. 

In the meantime, EPOC also highlighted that wage negotiations between the Government and some public sector groups remain an outstanding item in current fiscal year . 

However, EPOC says it continues to be hopeful that an agreement will be concluded with all the groups including the police and nurses.

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