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Jamaica sees relatively flat growth in 2019 - PIOJ

Dr. Wayne Henry
 
The Planning Institute of Jamaica (PIOJ) is reporting that 2019 was another year of relatively flat growth.
 
PIOJ Director General Dr. Wayne Henry made the disclosure during Tuesday's quarterly media briefing. 
 
The real Gross Domestic Product (GDP) for the year was estimated to have grown by 0.9 per cent - the seventh consecutive year of GDP growth.  
 
Jamaica has achieved 20 consecutive quarters of economic growth.
 
But the actual numbers also tell another story. They show that economic growth has remained largely subdued.
 
For example, the highest quarterly growth last year was two per cent recorded in the fourth quarter. 
 
It explains why the annual growth rate has averaged about one per cent over the last decade.
 
Last year's lower-than-expected growth resulted from obstacles like the closure of the JISCO Alpart plant and unfavourable conditions in the agricultural sector.
 
Dr. Henry admitted that those challenges are likely to continue. 
 
"We expect real GDP for the January to March 2020 quarter to grow within the range of zero to one per cent," he indicated. 
 


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