On 19 September 2016 the IMF issued a press release following the 13th Review under the Extended Fund Facility (EFF) with Jamaica.
Jamaica’s economy is improving with an agricultural recovery, a strong performance in tourism and manufacturing and an increasing flow of foreign direct investment (FDI). The GDP is expected to grow by an estimated 1% for 2015/16 and is estimated to reach 1.7% in 2016/17.
Job creation and higher living standards are essential for maintaining support for the reform agenda. Rebalancing from direct to indirect taxes gives Jamaica a chance to improve tax compliance and to increase incentives for production and for effort. Support for lower income groups and is a priority and this requires the development and implementation of a plan to increase the framework of social protection to promote inclusive growth.