Guyana’s economy continued to grow in 2016, but at a slower rate than in the previous year. In 2016, there was a slowdown in agricultural production, reflecting adverse weather conditions as well as stagnant agricultural commodity prices. The slowdown in the agricultural sector also affected performance of the manufacturing and services sectors. Additionally, delays in public investment remained a drag on construction. These delays partly reflect deliberations by the administration to take stock of all existing public sector projects, as well as to set new priorities. As in previous years, GDP growth for 2016 largely stemmed from strong gold output from new mines, with total real GDP increasing by 3.3 percent (Table 1).
Published Date: August 2017
Authors: M. DaCosta, K. Dublin, and S. Williams
Full Paper
SEP
2017