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Economic Survey of Latin America and the Caribbean 2007-2008

Macroeconomic Policy and Volatility

image of Economic Survey of Latin America and the Caribbean 2007-2008

The Economic Survey is one of ECLAC's flagship publications, and has been issued since 1948. This new edition covers the region's economic performance in 2007 and the first semester of 2008, and suggests growth estimates for this year.

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Jamaica

Jamaica posted a moderate GDP growth rate of 1.2% in 2007, which was well below the level expected by the government (3%).. The current account deficit widened significantly and annual price inflation rose to 16.8%, three times the 2006 level. The slowdown in the economy was mainly due to a combination of negative externalities, such as Hurricane Dean and the continually rising international prices of Jamaica’s main imports.

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