Analysis by Region - Emerging Markets - Jamaica
We've revised down our 2024 GDP growth forecast for Jamaica slightly to 2.0% from 2.1% but we maintain our forecast of 2.1% growth for 2025. We think the slowdown in domestic consumption and external demand, and the only modest recovery in investment after a two years of contraction, will weigh on growth. Base effects from agricultural production after Hurricane Beryl caused significant damage this July, as well as tourism inflows, will support growth next year. Risks on our forecasts are skewed to the downside due to tight monetary policy, extreme weather effects, and increasing crime rates.
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