EPOC sees difficult road to economic recovery
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 2020-21, 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.