Latibeaudiere THE BANK of Jamaica has revised its forecast for economic growth for the fiscal year to between one and two per cent down from the original two to four per cent.
Addressing senior journalists, bankers and analysts, at a quarterly briefing at the BoJ in Kingston, Derick Latibeaudiere, Governor of the Bank of Jamaica, said the events of September 11 and the temporary closure of Jamalco following the period of industrial action, had severely retarded the continuation of growth expected from the previous two quarters of the fiscal year.
"However, we anticipate an expansion in economic activity for the March 2002 quarter. Against this background and in the context of the estimated contraction in the December 2001 quarter, the Bank has revised the forecast for economic growth for the fiscal year downwards to 1.0 to 2.0 per cent from the original 2.0 to 4.0 per cent," he said.
