The Chief Executive Officer of NCB Capital Markets, Jamaica, Angus Young is predicting “slow 2024 economic growth in the Caribbean” this year, a likely circumstance which he attributes to various factors “such as struggling external demands, booming oil sectors, and historically low unemployment” according to a release from the entity. Mr. Young’s forecast came during his address to the 19th annual conference of the Jamaican Stock Exchange (JSE) held recently at The Jamaica Pegasus Hotel in Kingston.
The NCB chief executive reportedly told his audience that “despite expectations from a slowdown from the global economy, territories within the region are expected to grow, albeit at a slower pace.” This growth, he reportedly predicted, “will push their economies above their 2019 pre pandemic levels.” In his address, Young said that the likely slow economic growth in the region in 2024 could be “due to various factors such as struggling external demands, booming oil sectors, and historically low unemployment.”