The Economic Programme Oversight Committee, EPOC has said risks to economic recovery remain high, amid rising Covid-19 cases.
Speaking during the committee’s quarterly press briefing today (February 19), Chairman Keith Duncan noted, that the projections for Gross Domestic Product, G-D-P contraction had to be revised downwards from 7.9% to 11.6% for the current fiscal year, due to the impacts of the Coronavirus pandemic.
This also led to tax revenues projection being revised downwards by 6.7 billion dollars.
Mr. Duncan says due to high levels of uncertainty brought on by the Covid-19 pandemic, the outlook on growth in G-D-P is cautious.
Mr. Duncan says herd immunity is critical to full economic recovery.
He is urging all Jamaicans to continue to play their part, in preventing the spread of the virus.