Jamaican Economy to Shrink by 5%

The Jamaican economy will shrink over this financial year by more than five per cent, because of COVID-19, Minister of Finance Dr Nigel Clarke is reporting.

Dr Clarke says that the projections are for the financial year 2020/21 the Gross domestic Product or GDP will be negative 5.1 percent.

Speaking in Parliament, Wednesday evening, May 13, the Finance Minister said the economy had taken several blows from the COVID-19 pandemic.

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