The International Monetary Fund (IMF) has revised its forecast for Jamaica’s economic recovery, now saying it expects growth to reach 4.6 per cent this year.

The figure, which was released in the World Economic Outlook yesterday, is up from the 1.5 per cent expansion the IMF forecast in April and confirmed the recovery from last year’s 10 per cent contraction is well underway. The monetary fund, however, projects growth will be slower than first anticipated next year. The April forecast had growth for 2022 at 5.7 per cent, but the October update said it will now be less than half that previous projection at 2.7 per cent.