The Jamaican financial system barely exceeded expectations in 2023, with preliminary information from the World Financial institution indicating a development price of two.3 per cent.
This determine surpassed the sooner forecast supplied at the beginning of the yr.
Again in June of the previous yr, the financial prospects report predicted a 2 per cent enhance in Jamaica’s gross home product (GDP).
A regional perspective
Taking a broader take a look at the Latin America and Caribbean area, the expansion estimate was additionally revised upwards to 2.2 per cent for 2023, in keeping with the January outlook.
This stands in stark distinction to the preliminary forecast in June, which had pegged the expansion price at 1.5 per cent.
World financial panorama
Whereas information assortment continues to be underway, the World Financial institution has reported a world financial growth of two.6 per cent.
Superior economies have proven indicators of restoration, with estimated GDP development reaching 1.5 per cent, a notable enhance from the earlier yr’s forecast of 0.7 per cent.
Rising markets
Rising markets, alternatively, proceed to show resilience, with a projected development price of 4 per cent.
