By Dr Compton Bourne
Professor Emeritus of Economics, The University of the West Indies and former President, Caribbean Development Bank
When oil and gas production fields in Guyana are fully operational, the fossil energy sector is likely to be the predominant source of national economic activity through its direct contribution to foreign exchange earnings, government fiscal revenues, employment and labour incomes, and local purchases of goods and services.
Nonetheless, national economic policy should seek to ensure that other industries and sectors are expanded and developed to make significant sustainable economic contributions. This policy perspective is elaborated with reference to a few selected industries and sectors.
