Gov’t Forecasts 1.9 Per Cent Growth for 2015/16

The Government is forecasting real gross domestic product (GDP) growth of 1.9 per cent for the fiscal year 2015/2016.

Prime Minister, the Most Hon. Portia Simpson Miller, said the growth will be driven by increased activity in targeted sectors.

“The expectation is that growth will come mainly from the following areas: mining and quarrying, agriculture, forestry and fishing and construction,” she noted.

She said projections are for the services sector to grow by 4.5 per cent; and for two per cent growth in transport, storage and communication.

The Prime Minister was addressing the Jamaica Stock Exchange’s (JSE) regional conference on investments and the capital markets held recently at the Jamaica Pegasus Hotel in New Kingston.

She said the Government remains committed to developing and implementing the right mix of policies to create the environment for business and commerce to flourish.

“We remain steadfast in our commitment to the Economic Reform Programme for the benefit of all Jamaicans. Since assuming office three years ago, the Government has embarked on a growth agenda anchored in a sustainable debt reduction plan, which is being advanced through strategic local and foreign investments and innovations in traditional and emerging sectors,” she said.

She thanked the Jamaican people for their role in building the country.

The JSE’s regional conference on investments and the capital markets conference was held under the theme: ‘Regional Transformation through Innovations and Investments’.