Economy Not Expected To Recover Until 2023

The economy is not expected to recover to pre-COVID-19 levels until at least 2023.

That is according to the Economic Programme Oversight Committee. The Committee says the country’s outlook is still bleak due to the uncertainty of the pandemic.

Chairman of the Oversight Committee, Keith Duncan says the GDP growth projections have reduced as global and domestic economic conditions remain uncertain due to the coronavirus.

The Chairman says the downside risks for macro-fiscal projections such as the rate of COVID-19 infections and limited access to vaccines remain high.

In the meantime, Jamaica is on track to meet all quantitative targets under the economic reform program with the exception of the non-borrowed reserves.

CVM LIVE‘s Jamaila Maitland has this report: