Guyana is on the verge of a sharp increase in economic growth but “immediate prospects partly depend on ending political uncertainty,” the Caribbean Development Bank’s (CDB) Economic Review for last year says.
According to the six-page document, which was released by the CDB, the budget speech that was presented by Minister of Finance Winston Jordan last year November identified a target growth rate of 4.6%, with all major sectors contributing.
“However, increased political uncertainty in early 2019 may dampen this momentum. The National Industrial and Commercial Investments Limited (NICIL) bond issue will push total public and publicly guaranteed debt above 60% of GDP in 2019 but that ratio is projected to decline sharply after 2020,” the review said, while noting that business reforms are needed to improve competitiveness and facilitate inclusive growth.
