Donovan Wignal
Former ranking member of the Economic Programme Oversight Committee (EPOC), Donovan Wignal, is urging the government to take action to boost local production, reduce imports and increase exports.
Speaking on Radio Jamaica's Real Business on Friday, Mr. Wignal said Jamaica's widening trade deficit and relatively weak growth in remittance inflows highlight the urgency of the situation.
Jamaica's merchandise trade deficit reached approximately US$2 billion during the first four months of this year.
Over the same period imports increased by 1 per cent to about US$2.5 billion while exports fell by more than 10 per cent to US$547 million.
Mr. Wignal says the bulk of Jamaica's imports were raw materials, food and oil.
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