Is Business Confidence Up in Jamaica?

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Above: Kingston (CJ Photo)

By the Caribbean Journal staff

Business confidence is rising in Jamaica.

At least that’s the verdict from Jamaican Finance Minister Dr Peter Phillips.

The Minister, who was speaking at a Chamber of Commerce forum in Mandeville last week, said business investor confidence in the country had improved of late.

“Business confidence has been up … for the first time in two years,” he said. And based on financial data, businesses thought that “this was a good time to invest,” he said.

Phillips said the country remained confident that Jamaica would pass its June International Monetary Fund test, based on what he said were the attainment of a 7.5 percent primary budgetary surplus target, planned tax reform and the restructuring of public sector salaries, among others.

“We feel very satisfied about the June 30 performance review, and we expect that when the Fund Mission visits, that their review will confirm our review that June 30 targets were all on track,” he said. “We expect, also, that there will be a similar performance for the future targets.”