Latest update April 7th, 2026 12:30 AM

Guyana's largest selling daily and New York's most popular weekly

Latest News

BOG remains optimistic about Guyana’s economic growth

Jun 27, 2017 News

Despite the fact that the global economic growth is projected at 3.5 percent, Bank of Guyana is still optimistic that Guyana’s economy will grow by 3.8 percent.
Bank of Guyana’s outlook for the end of December, as reflected in its Quarterly Report and Statistical Bulletin, noted that the global economic growth is projected at 3.5 percent, with cyclical recovery in investment, manufacturing and trade.
It said that stronger activity along with more robust global demand would help commodity prices recover from their low level. Economic performance in both developed and developing countries are expected to be robust during the year.
“The Latin America and Caribbean Region are expecting positive growth of 1.1 percent. Higher commodity prices will help headline inflation and reduce deflationary pressures. Accommodative monetary policy will continue in the Euro Area, however, a faster-than-expected pace of interest hikes in the US could tighten financial conditions and cause an appreciation of the US dollar that will impact negatively on emerging economies.”
Notwithstanding that, Bank of Guyana said that the country’s economy is projected to expand by 3.8 percent at the end of 2017.
The Bank said that the mining, agricultural, and to some extent the services sectors, are expected to contribute a significant portion to real output and household income. Further, it said that the rate of inflation is targeted at 2.5 percent for 2017, owing to anticipated increases in fuel and some non-fuel commodity prices.
The overall balance of payments is budgeted to record a surplus of US$19.9 million at the end of 2017 due to a capital account surplus despite a current account deficit.
The report stated that “capital account surplus will result from flows to the public sector through bilateral and multilateral agencies, and to the private sector through foreign direct investments and capital transfers. The current account deficit is expected to expand, stemming from a higher merchandise and services import bill. Notwithstanding, gross international reserves of the Bank of Guyana are projected to increase at the end of 2017.”

Discover more from Kaieteur News

Subscribe to get the latest posts sent to your email.

Similar Articles

Listen to the The Glenn Lall Show

Follow on Tik Tok @Glennlall

Your children are starving, and you giving away their food to an already fat pussycat.

THE BLUNT OF THE DAY

Sports

Four gold, one record – Guyana ends CARIFTA Games campaign with six medals

Four gold, one record – Guyana ends CARIFTA Games campaign...

Apr 07, 2026

By Rawle Toney Kaieteur Sports – Guyana concluded its campaign at the 53rd CARIFTA Games in St George’s, Grenada, with an impressive haul of six medals (four gold, one silver, and one bronze)...
Read More

VIEW ALL SPORTS

Features/Columnists

The roads of Georgetown are not owned by the Georgetown City Council

The roads of Georgetown are not owned by the Georgetown City Council

Apr 07, 2026

(Kaieteur News) – There is a peculiar habit in public life. It is the tendency to mistake custody for ownership. It is a small confusion, almost innocent at first glance, but like many small confusions it grows into a large misunderstanding. Recently, the Government, in designating fifty-seven...
Read More

Sir. Ronald Sanders

The Caribbean Is Being Forced to Reconsider Trade Dependence on the U.S.

The Caribbean Is Being Forced to Reconsider Trade Dependence on the...

Apr 05, 2026

By Sir Ronald Sanders (Kaieteur News) – The Caribbean has not set out to loosen its trade dependence on the United States. It is being driven to do so. For generations, Caribbean importers and consumers have looked first to the American market. They have done so for reasons of preference and...
Read More

The GHK Lall Column

Guyana now the land of doubt, cynicism, skepticism

Guyana now the land of doubt, cynicism, skepticism

Apr 07, 2026

(Kaieteur News) – Ever hear about Doubting Thomas?  Those who didn’t should consult with their Bibles.  Guyana has tons of Doubting Thomases and should be in the Guiness Book of World Records three times.  Once as a land trapped in endless doubt.  Twice, as a country warped by chronic...
Read More

Publisher’s Note

Freedom of speech is our core value at Kaieteur News. If the letter/e-mail you sent was not published, and you believe that its contents were not libellous, let us know, please contact us by phone or email.

Feel free to send us your comments and/or criticisms.
Contact: 624-6456; 225-8452; 225-8458; 225-8463; 225-8465; 225-8473 or 225-8491.
Or by Email: glennlall2000@gmail.com / kaieteurnews@yahoo.com

Weekend Cartoon

Bridge Watch

> Berbice Bridge […]