Guyana’s GDP will grow from US 4B to 15B by 2024

Guyana’s GDP will grow from US 4B to 15B by 2024

 

The IMF has projected that Guyana is projected to have the worlds the largest eco­nom­ic growth in 2020.

According to new global projections for 2019, the coun­try is ex­pect­ed to grow by 4.4 per cent, while in 2020 it is pro­ject­ed to grow by an unprecedented 85.6 per cent.

The coun­try is al­so pro­ject­ed to have an eco­nom­ic growth rates of 4.8 per cent, 20.6 per cent, 26.2 per cent and 3.2 per cent for the years 2021 to 2024. The country’s ramped up oil production regime is the primary reason for these growth projections. Guyana’s oil sector according to the IMF will represent as much as 40% of the country’s economy in the next five years.

In comparison Trinidad and Tobago’s 2019 pro­jec­tion is at 0 per cent and in 2020, the econ­o­my is projected to grow by 1.5 per cent.

For the years 2021 to 2024, T&T is pro­ject­ed to grow at 2.3 per cent, 2 per cent, 1.6 per cent and 1.7 per cent respectively.

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