Jamaican Economy to Grow 1 to 2 Percent

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The Jamaican economy could grow between 1 and 2 percent his year, according to the Bank of Jamaica. The growth will be driven by extensions in agriculture, mining and quarrying, along with hotels and restaurants. “The Jamaican economy has started to show concrete signs of recovery,” said BOJ Governor Brian Wynter. “Interest rates are at historically low levels, the foreign exchange market has continued to be stable and the outlook for inflation is favorable.” The economy was estimated to have grown by around one percent in the first quarter, but it growth had fallen by 1.2 percent over the previous four quarters. [Jamaica Observer]

 

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