Jamaican News

Jamaican Economy Grows 2.3 Percent… Highest in 14 Years

audley shawA growing Jamaican Economy but a sliding dollar. “There is no shortage of foreign exchange in excess of $3 billion dollars. ” declares Jamaica’s Finance Minister.

Finance Minister Audley Shaw has announced in Parliament today November 1, 2016 that the “Jamaican economy has grown some 2.3 percent, the highest growth since 2002. The Agricultural Sector grew by 28 percent . The domestic agricultural sector grew 43 percent. The Planning Institute of Jamaica (PIOJ). has adjusted its projection from 1.2 to 1.8 percent.” Declares Audley Shaw.

Committee For Sliding Dollar

The Finance Minister has also announced that a Committee has been set up to look at the sliding dollar. This working group has been asked to meet weekly under the guidance of the Bank Of Jamaica (BOJ). Despite the growing Jamaican economy the Jamaican dollar continues to slide in relation to our major/regular trading partners mainly the $US and CAD$.

This growth is good news and shows the improved confidence being shown in the JLP led government which has been transforming our economy to positive results and prosperity for not only the Jamaican consumer but the national economy.

Growth of 2.3 percent is the highest growth rate in 14 years. This is very good news. We at Vision congratulate the Andrew Holness led administration.

Hopeton O’Connor-Dennie is Senior International Correspondent & photojournalist for Vision Newspaper Canada.

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