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The Statistical Institute of Jamaica is reporting that the nominal value - or the value of the Jamaican economy before adjustment for inflation - was $3 trillion as at the end of last year.
The agency, however, pointed out that real value - or the value economy after the adjustments are made for the levels of inflation accumulated between the 2007 and 2024 - was only $796.98 billion.
This is an indication of the country's low levels of productivity and the negative effects on the cost of production as well as the cost of living.
It also reveals the urgent need to reverse this negative trend.
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