PIOJ reports JA economy grew by 1.9%

Shannon-Dale Reid

1 year ago

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The Planning Institute of Jamaica (PIOJ) reported on Tuesday that the economy grew by 1.9%.

The growth took place in the quarter ending September 2023.

Director General of the PIOJ, Dr. Wayne Henry made the disclosure, during a quarterly press briefing.

He attributed the growth to higher levels of employment in the country and meeting the labour force demands.

Growth in the tourism industry and increased capacity utilization in the mining industry are also contributing factors.

Meanwhile, Finance Minister Dr. Nigel Clarke said “The Mining Sector is projected to have grown by 102% due to higher alumni production with increased capacity utilization at JAMALCO and Windalco.”

He noted that while the drought impacted agricultural output, it is “projected to have declined by 9%”