Macroeconomic Stability Has Been Entrenched – PIOJ Head

• Planning Institute of Jamaica (PIOJ) Director General, Dr. Wayne Henry, noted that macroeconomic stability has been entrenched, evidenced by relatively low inflation, high net international reserves (NIR), successive positive growth, and fiscal discipline, which has significantly lowered public debt.
• The country’s debt-to-GDP ratio is projected to fall below 100% at the end of the 2018/19 fiscal year, which is the lowest level of debt in nearly two decades.
• Dr. Henry noted that with the strengthened foundation resulting from the improving macroeconomic out-turns, coupled with on-going efforts to sustain the gains attained, “the country is now [moving] to achieve economic independence”.

(Source: JIS)