PIOJ Launches Inclusive Growth Index Framework

• The Planning Institute of Jamaica (PIOJ), launched the Inclusive Growth Index Framework (IGIF), a comprehensive measurement tool for growth.
• The index, developed by the PIOJ’s Growth Inducement Programme (GIP), provides a more comprehensive understanding of the inter-relatedness of key drivers of growth specific to Jamaica.
• In his remarks at the virtual launch, Director General, of PIOJ, Dr. Wayne Henry, said the IGIF encapsulates critical focus areas, including equality and equity, health, human capital, environmental quality, social protection, safety and security, and wealth.
• "By consolidating indicators relevant to Jamaica into key sub-indices on a composite index, the IGIF provides a comprehensive basis for measurement tracking and in-depth analysis, offering valuable insights for the creation of policy responses and proactive initiatives tailored to our people's diverse needs," Dr. Henry said in a statement.
• He noted that the launch marks a significant milestone in Jamaica’s development, as the PIOJ officially presents a powerful new tool that was created to significantly increase Jamaica’s ability to achieve the goals and targets outlined in Vision 2030, Jamaica’s national development plan, to attain improved economic and social outcomes for all.
• While acknowledging the existence of global indices such as the United Nations Development Programme’s Human Development Index, the IGIF distinguishes itself by being tailored to Jamaica’s specific situation. "It recognises the critical importance of internal nuances in shaping a nation's development path, balancing external benchmarking, with the unique characteristics that make each country distinct," Dr. Henry added.
• The output of the IGIF will serve a wide cross-section of policymakers, economists, researchers, journalists, and all who impact or are impacted by Jamaica’s economy in a detailed, refined, and proactive way.

(Source: JIS)