Food for thought from the midyear story
Despite nearly one year of tentative and inconsistent governance, the Guyana economy is set to record another year of growth. This message was delivered by the report on the performance of the economy in the first half of 2012. Reportedly coming in at 2.8 percent, the growth was noticeable in two of the broadly defined sectors of the economy. At the top of the list was the mining and quarrying sector which registered 16.4 percent real growth. Production expanded and so did demand for most of the products making up that sector. Gold enjoyed the added benefit of higher prices that allowed it to bring in 17 percent more revenue than it did during the comparative period last year. The other contributing sector was that of services. Therein, the distributive trade and its companion activities of storage and transportation chipped in with a 5.5 percent growth in output. Despite the lower impact on growth, the most stellar performance was in the services sector. Transportation and storage contributed a whopping 20 percent to the performance of the economy. Transportation coming in as a bright spot …..To continue reading, login or subscribe now.