Guyana’s non-oil economy shrunk by 7.3% in 2020 – IDB

  • Published on: May 18, 2021 - 4:04 AM
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Guyana’s non-oil economy shrunk by 7.3% in 2020 – IDB …total oil revenue produced 43.3 % GDP growth The Inter-American Development Bank (IDB) in its Caribbean Quarterly Bulletin for 2021 has said that Guyana is the only country in the region to record a positive growth rate in spite of the 2020 electoral impasse and the impact of the COVID-19 pandemic. However, financial institution explained the non-oil (traditional) economy contracted by 7.3 per cent while the agriculture sector recorded a 4.1 per cent expansion which was as a result of 4.8 per cent growth in the rice industry and 6.6 per cent in variety crops. This growth accounts for almost …
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