Government Reforms to Support Stronger Growth

• Jamaica is on the path to stronger economic performance over the coming years following a reform program which is anticipated will put the country on a more sustainable growth trajectory.
• After poor economic governance led to two sovereign debt defaults since 2010, Jamaica is now closely coordinating policy with the IMF in a bid to improve its business environment, rein in government spending, diversify its economy, and reduce its external vulnerabilities.
• As a result of recent and upcoming initiatives, the forecast is that real GDP growth will average 2.0% over the next decade, compared to an average of just 0.1% over the past ten years.

(Source: Fitch Solutions)