Bank of Jamaica's Governor, Brian Wynter has said that Jamaica needs to generate a sustained growth in excess of over 3 per cent over the medium term in order to improve the standard of living for Jamaicans and according to Wynter, “given the size of the domestic economy, it is clear that the transition to strong and sustained growth has to be led by our exporters.”

The BOJ Governor was speaking at the Jamaica Exporters’ Association Quarterly Members Luncheon on Wednesday, which was held at Eden Gardens.

Mr. Wynter in his address said that in addition to the recession in global economic activity which reduced the demand for exports and profoundly affected domestic economic activity, Jamaica’s export growth has been hampered by periods of macroeconomic instability for many years. This he noted was influenced by the problems of weak labour productivity and other non-economic factors such as the high level of violent crimes.