Predictions of significant economic growth in Guyana due to the developing petroleum industry are being realized. Guyana’s Gross Domestic Product (GDP) in 2021 was US$8.04 B., representing a 20 percent growth rate. GDP reached the US$4 B mark in 2012 and increased to US$5 B in 2019. From US$8.04B in 2021 the GDP is projected to grow in 2022 by 56 percent which will take its […]
Tag Archives: economic development
THE BRIGHT CENTURY BECKONS GUYANA, BUT WHAT’S IN IT FOR ME, AND WHEN?
The spectacular possibilities that await Guyana were revealed at the recently concluded Oil & Gas conference. Government spokespersons, led by President Irfaan Ali, Prime Minister Mark Phillips and Vice President Bharrat Jagdeo, and other officials, revealed plans, set out priorities and declared objectives. The head of Exxon talked about the possibilities of the oil industry […]
UMBRELLA
Rihanna, the Barbadian-American singer, became popular with the song ‘Umbrella,’ released in 2008. ‘Umbrella’, along with later songs, are the basis of her status as a megastar and a billionaire entrepreneur of the ‘Fenty’ line of products. ‘Umbrella’ contains the lines: “With you I’ll always share…Know that we’ll still have each other.”
WHY GUYANA’S ECONOMY BEEN IN SHACKLES SINCE COLONIAL TIMES
Guyana’s is and has always been a primary producer. During its years of Independence, although there was some economic growth, Guyana was unable to significantly diversify its economy by, firstly, adding value to what it produced and, secondly, advancing the process of industrialisation. Apart from political instability and consequential factors, the absence of an adequate […]