EPOC sees dif­fi­cult road to eco­nomic re­cov­ery

Jamaica Gleaner - - FINANCE - Busi­ness@glean­erjm.com

KEITH DUN­CAN, chair­man of the Eco­nomic Pro­gramme Over­sight Com­mit­tee, EPOC, says the com­mit­tee mem­bers are sat­is­fied that Ja­maica’s cur­rent macroe­co­nomic pro­gramme is suf­fi­ciently ro­bust and will pro­vide a road map for full re­cov­ery of the econ­omy.

He said that while the Gov­ern­ment is pro­ject­ing a 5.1 per cent con­trac­tion of the econ­omy in fis­cal year 202021, they are ex­pect­ing it to re­turn to pre-COVID lev­els in fis­cal year 2022-23.

“EPOC be­lieves that the road to re­cov­ery will be dif­fi­cult,” Dun­can told a vir­tual press brief­ing on Mon­day.

“How­ever, we be­lieve that Ja­maica has an ac­com­moda­tive mon­e­tary pol­icy, suf­fi­cient liq­uid­ity, ad­e­quate in­ter­na­tional re­serves and fis­cal buf­fers that will see us through this chal­leng­ing cur­rent fis­cal year,” the EPOC chair­man added.

Keith Dun­can, chair­man of EPOC.

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