← News Fri Aug 26, 2016 - 12:18 pm - 0 comments

PIOJ predicts 1.3% growth for 2016

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Newly appointed director general of the Planning Institute of Jamaica (PIOJ), Wayne Henry, anticipates growth of roughly 1.3 per cent for the 2016/2017 fiscal year.

The growth, although small, would be 0.4 percentage points higher than the growth experienced for the 2015/2016 fiscal year. Ministry of Finance in its Fiscal Policy Paper 2016/2017 noted that real GDP growth under the Extended Fund Facility averaged 0.6 per cent for fiscal years 2013/14 and 2014/15, but is expected to pick up from fiscal year 2016/17 onward, averaging 2.0 per cent to 3.0 per cent per annum.

“We continue to monitor and update as more data becomes available. Our projections for 2016/2017 fiscal year we are projecting within the range of one to two per cent of growth and in point estimate we have estimated 1.3 per cent,” Henry said during a media briefing for the review of the April to June 2016 quarter at the PIOJ headquarters in new Kingston on Wednesday.

Published in the Observer
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