Jamaica expected to recover faster from COVID-19 than the 08/09 recession

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Jamaica expected to recover faster from COVID-19 than the 08/09 recession

Wednesday, July 08, 2020

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KINGSTON, Jamaica — Jamaica presented at the United Nations high level political forum on sustainable development this morning, and indicated that the economy is expected to recover within two to four years and employment within one to three years following global economic fallout caused by the COVID-19 pandemic.

The projected short recovery period compared with the global economic recession of 2008 to 2009 is due to the relative strength of the Jamaican economy, and stimulus packages that have been rolled out both locally and globally.

The statement, which was delivered by the Planning Institute of Jamaica, further said that Jamaica anticipates slippages on the pace of achieving development targets that are being implemented under Vision 2030 Jamaica – National Development Plan and aligned to the global Sustainable Development Goals (SDGs). In spite of the challenges, Jamaica reaffirmed its commitment to implementing Vision 2030 Jamaica and the SDGs.

The theme of the session was, Responding to the economic shock, relaunching growth, sharing economic benefits and addressing developing countries' financing challenges.

The United Nations high level political forum is the main platform for UN member states to report on progress towards Agenda 2030 and the SDGs.

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