Guyana set to grow by 20.9% in 2021 – CARICOM Business

Guyana is projected to become the highest per capita oil producer in the world by 2035 (Photo via DPI)
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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 spillover 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.

Extract from CARICOM BUSINESS Vol. 4 No. 13

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