The IMF forecasts strong growth in Guyana’s economy, with a GDP increase of about 10¼ percent expected in 2025, driven by oil production and robust non-oil sectors. Inflation is anticipated to rise to 4 percent while government budget deficits are projected to decline significantly. Continued vigilance on macroeconomic stability and inclusive growth strategies are recommended.

The International Monetary Fund (IMF) has reported a strong economic transformation in Guyana, primarily driven by the oil and gas sector, alongside growth in non-oil activities. Their preliminary findings indicate that Guyana’s GDP is expected to grow by approximately 10¼ percent, with the non-oil economy projected to rise by 13 percent in 2025, reflecting solid performance across various sectors such as construction and services.

Guyana’s economic outlook is overwhelmingly positive, with significant growth expected in both oil and non-oil sectors. The IMF emphasizes the importance of maintaining macroeconomic stability and implementing social policies to ensure inclusive growth. The country is advised to remain vigilant against potential risks such as commodity price volatility and inflationary pressures, to sustain its development trajectory.

Original Source: newssourcegy.com