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Saturday, August 31, 2024

Guyana Raises Growth Estimates to 43% as Oil Production Surges

 

President Irfaan Ali raised estimates for Guyana’s yearly growth to 42.8% from a prior 34.8%, as he projects “ramped up” investments from the public and private sectors.

The South American nation’s economy grew by 49.7% in the first half of 2024, with the oil sector accounting for 67% of that growth, Ali said Saturday on a live webcast. Guyana produced an estimated 113.5 million barrels of oil from January to June, and the oil sector is projected to grow by 56.4% this year, he added.

https://www.bloomberg.com/news/articles/2024-08-31/guyana-raises-yearly-growth-estimates-to-42-8-from-34-8

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