Guyana Raises Growth Estimates to 43% as Oil Production Surges
Guyana’s economy grew by 49.7% in the first half of 2024.
Photographer: Jose A. Alvardo Jr./BloombergThis article is for subscribers only.
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 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.