Governor of the Bank of Jamaica, Richard Byles, says the country's economy continues to grow, but at a more moderate rate.
Mr Byles, speaking at the release of the Quarterly Monetary Policy Report, said real GDP for the financial year 2023–24 is estimated to have grown within the range of 1.5 to 2.5 per cent and the economy is expected to grow in the June 2024 quarter, albeit at a slower pace.
The Bank projects that real GDP will increase by 1.0 to 2.0 per cent for financial year 2024–25.
This growth is projected to be broad-based, with modest increases in hotels and restaurants and their allied industries, mining and quarrying, agriculture, forestry and fishing, manufacture, and electricity and water supply.
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