Latest update March 20th, 2025 5:10 AM
Latest News
- Guyana’s oil growth boosting regional economies– CDB Director of Economics
- Suspected outbreak of Hand, Foot and Mouth Disease in Region Four
- Israel launches first ground offensive since Gaza ceasefire collapse
- Sod turned for $665M expansion of St. Stanislaus College
- Pensioner jailed for raping child
2018 growth rate to be revised upwards –Finance Minister
Finance Minister, Winston Jordan, is currently preparing the End of Year Outcome report for 2018 for presentation by mid-April. In providing a preview to the results thus far, the e
Finance Minister, Winston Jordan
conomist said that last year’s growth is expected to be revised upwards.
During an exclusive interview, the Finance Minister said that this would be based on the strength of better performance in sugar. He said that it should be in the range 3.6 to 3.9 percent. Jordan said that final numbers will be in the report.
In his 2019 budget speech, the Finance Minister had said that projection for real growth in the Gross Domestic Product (GDP), for 2018, would be 3.4 percent, a significant improvement on the 2.1 percent recorded in 2017.
With the Guyana Sugar Corporation (GuySuCo) now charged with managing the operations of three estates, Jordan had said that the viability of the nation’s sugar industry has been given a new opportunity with restructured cost profiles.
He had said that the ongoing recapitalization of the Albion, Blairmont and Uitvlugt Estates, as part of the Sugar Task Force three-year plan for GuySuCo, is anticipated to result in production in future years rising from a low of 98,000 tonnes by the end of 2018, to nearly 145,000 tonnes by 2021.
Further to this, the Finance Minister had said that the Guyana Sugar Corporation will continue to introduce cost-reducing measures, explore lucrative markets and marketing strategies, and undertake critical capital works. He had said that sugar production is projected to increase to 113,262 metric tonnes, in 2019.
Similar Articles
THE BLUNT OF THE DAY
Sports
Features/Columnists
No immigrant should feel safe in America today
Peeping Tom… Kaieteur News- There was a time when an illegal immigrant in America could live in the shadows with some... more
If Guyana’s President Ali is the “Zelensky of the Caribbean”, who is the Putin?
Antigua and Barbuda’s Ambassador to the US and the OAS, Ronald Sanders By Sir Ronald Sanders Kaieteur News- In the latest... more
Weekend Cartoon
