Guyana’s informal economy second behind Jamaica in region

‘Cause for concern’ - study says

Regional Economist Dr. Amos Peters

Guyana’s informal economy ranks second in the English-speaking Caribbean according to a recent study.

The findings of the study prepared by regional economist Dr. Amos Peters estimates the size of Guyana’s informal economy at between 35 – 44 per cent, just behind Jamaica which is estimated at between 35-45 per cent.

The informal economy comprises a diversified set of income-generating economic activities and workers which are not regulated or protected by government. While the concept had originally applied to traditional self-employment it has, over time, expanded to include wage employment in unprotected jobs. In the instance of Guyana the informal sector has swollen as high unemployment has compelled persons to create new categories of unregulated, mostly service-oriented jobs…..

Comments  

Syndicates awaiting official ‘green light’ on land for gold mining

Local gold mining syndicates are awaiting a commitment in writing from Natural Resources Minister Raphael Trotman which an official of the umbrella body administering the affairs of syndicates says should kick start operations by the groups comprising hundreds of small miners.

Value-added processing plant to be mooted at Gov’t/manufacturers roundtable

A joint public/private sector initiative to realize the setting up of a multi-purpose agro-processing plant in Guyana will be high on the agenda of the second Inter Ministerial Roundtable discourses between government and the Guyana Manufacturing and Services Association (GMSA), Stabroek Business has been informed.

Prospects for the industry going forward

By Raymond F. Trotz ITC Liaison, Guyana: Coconut Industry Development for the Caribbean (CIDC)   It has been almost a year since the staging of Guyana’s first Coconut Festival and there have been many queries on its outcome and possible repetition.

Students for mining, oil and gas orientation programme

At least thirty young Guyanese from various local communities will shortly be experiencing a novel learning opportunity designed to equip them with skills that will open up possible employment opportunities in the country’s mining and oil and gas sectors.

T&T financial sector pushing accelerated diversification from oil and gas

Even as Guyana becomes increasingly preoccupied with the 2020 timetable for the commencement of oil and gas recovery, the ongoing efforts of Trinidad and Tobago to diversify its economy away from the fossil fuel ought to be an object lesson for the new kid on the block as far as the fossil fuel sector is concerned.

Your browser is out-of-date!

Update your browser to view this website correctly.

We built stabroeknews.com using new technology. This makes our website faster, more feature rich and easier to use for 95% of our readers.
Unfortunately, your browser does not support some of these technologies. Click the button below and choose a modern browser to receive our intended user experience.

Update my browser now

×