JIS News

Story Highlights

  • The economy grew by 2.3 per cent for the July to September quarter, the highest quarter growth recorded since 2002. This was disclosed by Minister of Finance and the Public Service, Hon. Audley Shaw, during the sitting of the House of Representatives on November 1.
  • Mr. Shaw said with this positive outcome, the Government is targeting growth of 1.8 to two per cent for this fiscal year, up from the 1.4 per cent projected by the Planning Institute of Jamaica (PIOJ).
  • The Minister also said that the Government is well on its way for the targeted growth of five per cent in four years, as put forward by the Economic Growth Council (EGC).

The economy grew by 2.3 per cent for the July to September quarter, the highest quarter growth recorded since 2002.

This was disclosed by Minister of Finance and the Public Service, Hon. Audley Shaw, during the sitting of the House of Representatives on November 1.

The Minister said the agricultural sector in the last quarter grew by 28.8 per cent, while the hotel and restaurant sector grew by more than two per cent.

Mr. Shaw said with this positive outcome, the Government is targeting growth of 1.8 to two per cent for this fiscal year, up from the 1.4 per cent projected by the Planning Institute of Jamaica (PIOJ).

The Minister also said that the Government is well on its way for the targeted growth of five per cent in four years, as put forward by the Economic Growth Council (EGC).

The EGC was set up as part of Government’s efforts to grow the economy and create jobs.

It has responsibility to advise the Government on the establishment of a framework of growth initiatives to be adopted, along with a timeline for implementation, and to monitor and report on the progress in the execution of those measures.

It will also allow suggestions from the public through a dedicated email address.

The Council reports to the Prime Minister.