Crime Continues to Stifle Economic Growth
Reacting to the latest data regarding the country’s economic growth in the third quarter of 2021, Financial Analyst Denis Chung says it is a creditable outcome, encouraging further recovery to pre-COVID-19 levels, however, he believes the negative impact crime will have on the country’s economic growth.
Data from the Statistical Institute of Jamaica (STATIN) indicates that for the third quarter of 2021 that is, July to September, Jamaica’s economy continued to show signs of recovery from the negative impacts of COVID-19 in 2020. Total value added grew by 5.8 per cent relative to the comparable quarter of 2020.
Financial Analyst Dennis Chung says the out-turn is encouraging, but there are concerns.
Chung says he is more interested in seeing the statistics for the fourth quarter of 2021, as for that period the interest rates were raised. The hotels and restaurants industry grew exponentially, benefiting from the reduction in global travel restrictions.
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