The Bank of Guyana (BoG) has projected that the local economy will grow by 4.4 percent this year, due to growth in the major economic sectors.
Growth will be driven by the agricultural, mining and quarrying, services and construction and manufacturing sectors.
Guyana’s economic growth rate was stronger at 4.1 percent for 2018 when compared to the 2.1 percent growth in 2017. This outturn was on account of higher production of bauxite, livestock, forestry, and other crops as well as increases in construction, manufacturing and service activities.
Despite the many positive growth, the inflation rate is forecasted at 2.5% because of moderate increases in food and fuel prices. The BoG’s Financial Stability Committee is, however continuously assessing a number of risk indicators pertinent to the financial and economic systems.
