Planning Institute of Jamaica growth projection a 'stretch', says analyst
Financial Analyst, Ralston Hyman, has described as a stretch the Planning Institute of Jamaica’s (PIOJ) prediction that the local economy will register growth for this quarter.
Last week the PIOJ reported that the economy contracted by about point four per cent in the April-June 2013 quarter when compared with the corresponding quarter in 2012.
However, the PIOJ forecast growth of between point five per cent to one point five per cent during the current July to September quarter.
However, Hyman says he does not see this happening with two months already gone out of the quarter.
He says the impending war against the Syrian government could make things even worse for Jamaica.
Hyman says the country is likely to see higher oil prices because of the conflict which will put the exchange rate under pressure.
He also says this will in turn affect interest rates and further slow down the economy.
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