On Wednesday, at its quarterly press briefing, the Bank of Jamaica (BOJ) projected flat to negative one per cent real GDP growth for the quarter ending in September, mainly due to the impact of the drought on agricultural crops and on the production of water. However, the bank argued that the economy would recover at an accelerating pace over the next four quarters, starting in December 2014.
Reflecting the anticipated contraction in the June to September quarter, the BOJ now projects lower than originally forecast growth for the calendar year and current fiscal year.
Published in the Jamaica Observer
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