Guyana to achieve world’s highest GDP in 2022

• Guyana is forecasted to achieve a Real Gross Domestic Product (GDP) of 47.5% this year; no other country in the world is currently projected to achieve this rate of growth in 2022. 
• The nation’s non-oil economy is expected to continue registering strong growth, currently projected at 7.7% this year, driven mainly by rebounds in rice production, gold mining, and continued expansion in construction activity and wholesale and retail trade and repairs. 
• Finance Minister, Dr. Ashni explained that real GDP is estimated to have grown by 19.9%, while non-oil GDP is estimated to have grown by 4.6% in 2021, despite the persistence of COVID19 as well as the impact of the floods. Given the current rate of overall growth, Guyana is likely to be amongst the three fastest-growing economies worldwide in 2022. 
• As a new oil and gas producer and the country with the 17th largest oil reserves in the world to date, the Finance Minister said the oil and gas sector promises to be the driver of historically high levels of growth in the Guyanese economy with strong positive spillover into the non-oil economy.

 (Source: Kaieteur News)