Analysis by Region - Emerging Markets - Jamaica
We've nudged down our 2023 GDP growth forecast for Jamaica by 0.7ppts to 2.2%. The economy expanded by 5.2% in 2022, exceeding our expectations and consistent with a less severe global downturn. According to flash estimates, the economy began this year on a strong footing due to a solid Q1 for tourism and mining activities. Still, we think economic activity will slump as monetary tightening weighs on domestic activity and the global slowdown hurts exports.
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