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.