Jamaica
returned to private sector ownership through divestment and privatisation programmes.
4
The macroeconomic stabilisation programme introduced in 1991, which focused on tight
fiscal and monetary policies, has contributed to a controlled reduction in the rate of inflation.
The annual inflation rate has decreased from a high of 80.2% in 1991 to 7.9% in 1998.
inflation for FY1998/99 was 6.2% compared to 7.2% in the corresponding period in
CUU1997/98. The Government remains committed to lowering inflation, with a long-term
objective of bringing it in line with that of its major trading partners.
After a period of steady growth from 1985 to 1995, real GDP (gross domestic product)
decreased by 1.8% and 2.4% in 1996 and 1997, respectively. The decrease in GDP in 1996
and 1997 was largely due to significant problems in the financial sector and, in 1997, a severe
annaabi.ee 
