The Planning Institute of Jamaica (PIOJ) has upgraded its forecast for economic growth for the second quarter of this year to 12.9%. The earlier growth forecast released by the entity was between 7 and 9% growth.
Director-General of the PIOJ, Dr. Wayne Henry, says additional data have led to the estimate being revised by approximately 4%.
Dr. Henry says the upgraded figure reflects the impact of the relaxation of measures implemented to manage the COVID-19 pandemic, relative to the similar period in 2020 when the country was on partial lockdown.
He notes that measures such as the closure of Jamaica’s borders to international passengers, curfews, and the closure of schools would have dampened the demand for some goods and services last year.
The relaxation of these measures in addition to other factors has led to growth this year.
