|
Monday, February 5, 2007
Officials in Guyana's Ministry of Finance have estimated a 4.9 percent growth in Guyana's Gross Domestic Product (GDP) for the year 2007. According to the projections in the US US$500 million budget recently presented to the National Assembly by Guyana's Finance Minister Dr Ashni Singh, the current revenue growth of 4% which the country is now experiencing will be further enhanced by increased agricultural and sugar production, and a recovery in the mining and quarring sectors. The Minister also believes that Guyanas hosting of the Cricket World Cup will significantly contribute to the islands revenue. Last year, Guyana registered a 4.7 growth in its economy due to a 5.5% increase in sugar production. However the mining and quarrying industries fell by 22.4% industry. Despite the projection of an increased GDP for 2007, this years budget represents a 2.9 percent decrease from last years figures.
|
