Guyana’s economy will remain resilient against the effects of COVID-19, maintaining its growth trajectory as the petroleum sector ‘picks up steam’, the World Bank has said.
Guyana grew at an extraordinary rate of 43.5% in 2020, having completed a year of oil production. The positive spill-over effects have been dampened by a deep contraction in the non-oil economy, triggered by COVID-19 mitigation measures.
Despite the lingering adversities, projections remain positive, with the country set to record economic growth of 20.9% at the end of 2021, 26.0% in 2022 and 23.0% in 2023. (GC)
Extract from the CARICOM BUSINESS Newsletter Vol 4 No 13
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