PIOJ Projects Growth Of 3 Per Cent for 2017/18

Photo: Melroy Sterling Director General of the Planning Institute of Jamaica (PIOJ), Dr. Wayne Henry (centre), speaks during the agency’s quarterly press briefing held on Wednesday (February 22), at the agency’s Oxford Road offices in St. Andrew. Others pictured are: Director for Economic Planning and Research at the PIOJ, James Stewart (left), and Programme Director for Vision 2030 Jamaica Secretariat, at the agency, Elizabeth Emanuel (right).

Story Highlights

  • The Planning Institute of Jamaica (PIOJ) is reporting that key sectors in the economy are performing well, with growth projected at one to two per cent for fiscal year 2016/17.
  • Preliminary data for January from the hotel and restaurant sector indicate that airport- and cruise-passenger arrivals grew by 1.2 per cent and 10.1 per cent, respectively. The electricity and water category experienced growth of 2.3 per cent.

The Planning Institute of Jamaica (PIOJ) is reporting that key sectors in the economy are performing well, with growth projected at one to two per cent for fiscal year 2016/17.

The agency is also projecting growth of three per cent in gross domestic product (GDP) for the 2017/18 fiscal year.

This is based on the productive activities in both the goods and services industries, led by strong showing in agriculture, forestry and fisheries.

In the agency’s forecast, the construction industry is expected to be bolstered by efforts of the Government to accelerate implementation of major road infrastructure projects, under the Major Infrastructure Development Programme (MIDP).

Preliminary data for January from the hotel and restaurant sector indicate that airport- and cruise-passenger arrivals grew by 1.2 per cent and 10.1 per cent, respectively. The electricity and water category experienced growth of 2.3 per cent.

Director General of the PIOJ, Dr. Wayne Henry, who spoke at the agency’s quarterly press briefing on February 22, at his Oxford Road offices, expressed concern about the “potential impact” that drought might have on agriculture in some areas.

Dr. Henry said the PIOJ forecasts a “positive impact” from the reopening of the Alpart plant in St. Elizabeth, scheduled for July to September 2017.

He emphasised that all must be done to ensure that approved capital projects are implemented as planned, so that “full growth is materialised”.

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