Messages
The Chairman’s Message
The meltdown in the world financial system had a dampening effect on the Jamaican economy, and GDP declined by 0.6% over the year. The construction sector experienced a 5.5% decline over the year 2008, and this was reflected in the low level of activity recorded by the Jamaica Mortgage Bank (JMB) during the financial year.
Housing Starts and Housing Completions recorded growth over the extremely low levels recorded in 2007; however this was not sufficient to drive the level of home ownership as the number of mortgages granted declined by 16.5% over 2008.
