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Economic Survey of Latin America and the Caribbean 2006-2007

image of Economic Survey of Latin America and the Caribbean 2006-2007

The publication surveys the main economic events and developments of 2006 and the first half of 2007 in the light of the region’s recent economic performance. The fifty-ninth edition of the survey is aimed to provide further inputs for the economic debates concerning means of promoting a rapid, sustainable growth process capable of creating conditions conducive to an improvement in the living conditions in the region. It also describes various aspects of the regions economic growth dynamics. The tables provided in the statistical appendix provide ready access to data for recent years and facilitate the creation of spreadsheets. The edition is supplemented by a CD-ROM.

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Jamaica

Jamaica’s economy expanded by 2.5% in 2006 which, although a modest performance, was the best for 11 years. The growth was driven by good macroeconomic conditions, including a drop in the inflation rate to 5.8% (the first single-digit record since 2002), falling interest rates and a rise in net international reserves. The economic expansion reflected the recovery in agriculture (15%) and a strong performance from tourism-related services, such as transport and communications (4.6%) and commerce, restaurants and hotels (3.9%).

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