Tax Revenues underperform, Inflation moves within BOJ target range, NIR hits historic highs

The EPOC met on April 12, 2024 to review the Fiscal and Monetary Quantitative Performance indicators under the Government of Jamaica’s Economic Reform Programme.

The following were key highlights noted by EPOC:

  • End-March 2024 Tax Revenues significantly underperformed budget
  • Inflation of 5.6% for March 2024 signals a return of the rate to the Bank’s target range
  • Net International Reserves (NIR) at historic levels of US$5.14B at end-March 2024
  • All indicative targets and structural benchmarks under the IMF Precautionary and Liquidity Line (PLL) and the Resilience and Sustainability Facility (RSF) at end-December 2023 were met.