ALTHOUGH the fallout from the novel coronavirus pandemic is more austere than that fuelled by the 2008 global economic recession, head of the Planning Institute of Jamaica (PIOJ) Dr Wayne Henry is projecting that Jamaica is, at this time, poised to bounce back faster than it did then.

Speaking yesterday during the quarterly press briefing to review the country’s economic performance for July to September this year, Dr Henry said the island has been “managing the pandemic fairly well”.
He said the projections have been given “in light of the assumption of a continued fairly effective management of the pandemic”.

“When we compare the COVID-19 impact so far, the fallout since March, it is much more severe than what we saw in the 2008 financial and economic crisis,” the PIOJ head said, noting that that crisis lasted until 2012 before recovery began to be experienced in the United States.