Features
This week I start a discussion on the upside potential/opportunities facing the Guyana economy. I shall begin by first describing the features required to constitute an upside potential/ opportunity (from the perspective of this column) and then proceed to examine one of these. It is important for me to stress at this stage that I am looking for signs of development, which would have a significant impact on the course of performance of the economy.
To qualify for consideration as an upside potential/achievement it is necessary that first of all there is, all things considered, a high probability of the project or scheme under consideration coming on-stream over the short-to-medium term. Second, given the size of the economy and its needs, significant resources should have already been committed to preparatory and start-up costs for the project/scheme. This requirement is introduced so as to rule out those projects and schemes, which are at a preliminary stage of discussion/consultation with no firm/binding commitment for their financing.
Third, when the scheme/project does come on-stream, it must have the potential to significantly alter the size and/or composition of the country’s GDP, thereby significantly improving its
