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Financial analyst: Ja could achieve balanced budget this year

Published:Saturday | March 22, 2014 | 8:15 AM

Financial Analyst Ralston Hyman, says Jamaica is well on track to achieving a balanced budget this year.



He says his assessment is based on several positive outcomes and developments resulting from the Government’s implementation of measures under the four-year Extended Fund Facility, negotiated with the International Monetary Fund (IMF) and the country’s Economic Reform Programme.



He says these relate to, among other things, the current account deficit, fiscal deficit, and Net International Reserves.



He was speaking on the Jamaica Information Service’s ‘Issues and Answers’ news magazine programme.



Hyman says Jamaica’s current account deficit now stands at less than 10 per cent of the gross domestic product (GDP), coming out at $900 million for the first nine months of 2013.



He says this as a significant improvement over the $2 billion the country previously recorded, which represented 18 per cent of GDP.



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