Jamaica’s economic recovery from the novel coronavirus pandemic induced contraction could take up to two years, the Bank of Jamaica (BOJ) said.

Dr Wayne Robinson, the senior deputy governor at the BOJ, however, said the recovery “will depend on how we manage the COVID-19 crisis and the roll-out of vaccination” in the coming months. He was speaking on Wednesday at the Sterling Asset Management Investor Briefing.

Speaking specifically about the recovery, Robinson said, “our expectation is that the economy won’t return to pre-COVID levels until 2023”.

Jamaica’s economy contracted by 11 per cent in the 2020/21 fiscal year which ended on March 31, 2021, reflecting the impact of COVID-19, according to the Statistical Institute of Jamaica (Statin), the agency which produces final figures for economic activity in Jamaica.

https://www.jamaicaobserver.com/business-report-daily-biz/economy-could-take-two-years-to-recover-from-coronavirus-pandemic-boj-senior-deputy-governor_225662?profile=1056