Director General of the Planning Institute of Jamaica (PIOJ), Dr. Wayne Henry, says the country’s economic prospects over the short to medium term are positive. Speaking during the PIOJ’s quarterly media briefing on Wednesday (February 21), Dr. Henry said this outlook is consequent on the continued growth in the economies of Jamaica’s main trading partners, which augurs well for increased...

The Government has made a budgetary allocation of $406 million to commence the second phase of the Rehabilitation of Research Centres project in the agricultural sector in the upcoming fiscal year. The allocation is contained in the 2024/25 Estimates of Expenditure, which was tabled in the House of Representatives by Minister of Finance and the Public Service, Dr. the Hon....

The Planning Institute of Jamaica (PIOJ) is reporting that the economy grew by an estimated 1.9 per cent during the October to December 2023 quarter, compared with the corresponding period in 2022. Speaking during the PIOJ’s quarterly briefing on Wednesday (February 21), Director General, Dr. Wayne Henry, said the out-turn for the review quarter largely reflected the impact of higher...

The final audit and evaluation of the Public Sector Transformation Implementation Project is to be conducted in the upcoming fiscal year. Details of the undertaking are outlined in the 2024/25 Estimates of Expenditure, tabled in the House of Representatives by Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, on February 15. The Ministry of Finance and...

Local innovators will soon benefit from the establishment of a technology commercialisation suboffice that will offer assistance in getting their products on the market. This follows a partnership between the Scientific Research Council (SRC) and the Development Bank of Jamaica (DBJ). A brainchild of the DBJ, the suboffice was initially designed to help universities commercialise research output but will now...

Bank of Jamaica (BOJ) Governor, Richard Byles, says real gross domestic product (GDP), which is the total value added generated from economic activity, continues to expand. He noted that despite the impact of bouts of adverse weather on the agricultural sector, real GDP for the December 2023 quarter is estimated to have grown within the range of one to three...

Approximately $441.7 million has been budgeted by the Government to complete construction of the Christiana Tax Office in Manchester, to replace the existing facility. The sum is earmarked in the 2024/25 Estimates of Expenditure, tabled in the House of Representatives by Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, on February 15. Tax Administration Jamaica (TAJ)...