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  2. Apr 15, 2024 · Last Updated: Apr 15, 2024. After four decades of little or not growth, the Jamaican economy is expected to grow at 1-2% over the medium term. The country is confronted by serious social issues that predominantly affect youth, such as high levels of crime and violence and high unemployment.

  3. May 28, 2020 · The economy is expected to contract by over 5 percent this fiscal year. Furthermore, government revenues are expected to decline by double digits even as emergency health expenditures as well as social and economic support expenditures rise.

  4. The main challenges for Jamaica include achieving sustained economic growth and social equity, as well as reducing poverty, unemployment, violent crime and corruption. Fiscal discipline and debt reduction are also crucial components of Jamaica’s evolving market economy.

  5. Oct 8, 2023 · October 8, 2023. More work, more poverty — a quest to expand Jamaicas middle class in the heightened economic dilemma. In the aftermath of the COVID-19 pandemic, Jamaica has witnessed a record...

  6. May 21, 2020 · Economically and socially, Jamaica will face a very difficult year. The sudden stop in tourism and the fall in alumina prices, the two main exports, are generating an increase in unemployment and a fall in the projected GDP. Unlike previous crises, Jamaica is in a robust fiscal and macroeconomic position to develop a strong emergency response.

  7. Mar 14, 2024 · Jamaica was hit hard by the COVID-19 pandemic, with the Gross Domestic Product plummeting by 10 percent between 2019 and 2020. This was followed by widespread job losses and declines in labor earnings. Although employment indicators are showing signs of improvement, challenges persist in employment quality.

  8. Feb 22, 2022 · February 22, 2022. Prior to the pandemic, Jamaica had successfully stabilized the economy, turning a fiscal deficit of 11 percent of GDP in 2009 into a 1 percent surplus in 2019, and reducing public debt from 142 percent of GDP in 2009 to 94 percent by 2019.

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