MONTEGO BAY — The Inter-America Development Bank (IDB) Country Economist for Jamaica Henry Mooney says the country’s macroeconomic indicators are moving in the right direction and, as such, the operating conditions for the private sector is right.

“There has never been a better time to be operating in the private sector in Jamaica; at least, not in the last 20 years,” stated an optimistic Mooney, who added, “I hope you are seeing this yourself — but certainly, statistically, in terms of what we are seeing in terms of the macroeconomic backdrop. So that should give you a lot of hope that should motivate you and sensitise you to continue to develop your business, because that’s one of the key issues without which you wouldn’t be able to make much progress.”

Mooney noted that economists are normally seen as a dismal scientists. However, he said since moving to Jamaica he is now able to refer to himself as an optimistic scientist.

The country economist representative noted that the country is currently at an extraordinary time in terms of its potential. As such, he said the country is now in a better position to do things that it wasn’t able to do over the past two to three decades. He said this was made possible through extraordinary efforts undertaken by the Government over the course of the past five to six years to establish macro-stability.

A growth optimism and uncertainty chart presented by Mooney for the region has projected Jamaica as the only country in the region that is expected to see a marginal gross domestic droduct (GDP) of under three per cent over a five-year period, starting in 2017.

The other countries are The Bahamas, Barbados, and Trinidad and Tobago.

Mooney, who was addressing a Business Process Industry Association of Jamaica and Contact Centre Business Incubator President’s Forum held at the Usain Bolt’s Track and Records in Montego Bay on Thursday, said this projection for Jamaica is relatively flat.

http://www.jamaicaobserver.com/business-report/jamaican-economy-moving-in-right-direction-idb_146072