#Guyana, January 15, 2023 – According to the World Bank, Guyana may be the only country within the Latin America and Caribbean (LAC) region to record double-digit growth this year. Recorded in the Bank’s latest ‘Global Economic Prospects’, Guyana’s industry thrives on natural resources.
The report said the island should see a 25.2% increase this year followed by a continued 20.1% increase through to 2024.
The post-pandemic inflation will cause an overall decline in growth across the region with an average of 1.3% growth. While the tourism sector had a comeback in 2022, many countries may still struggle to repay debts.