BOJ Governor Richard Byles
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Richard Byles
The Bank of Jamaica is projecting that the economy could decline by the end of the 2024/2025 fiscal year.
BOJ Governor Richard Byles says this fallout, for the period which runs from April this year to March 2025, would be linked to the fallout from Hurricane Beryl in July.
It is also underpinned by contractions in agriculture, forestry, fishing and construction.
"The bank projects that real economic activity will be in the range of minus 1.5% to 0.5%, while real GDP in the financial year 2025-26 is projected to grow by 1.5% to 3.5%.... The outlook for financial year 25-26 reflects a partial rebound in economic activity following the declines of financial year 24-25," said Mr. Byles.
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