2019
■ Growth in Real GDP of 5.4% compared with an initial target of 4.9%.
■ Inflation at a rate of 2.1% compared with an initial target of 2.6% and inflation in 2019 of 2.5%.
■ The Central Bank rate of the Guyana Dollar to the US Dollar at December 2019 was $208.5, the same as at October 2018.
■ Average market commercial bank mid-rates for the US Dollar depreciated by 0.98% to $214.7 at December 31st 2019.
■ Overall balance of payments deficit of US$48.9 million compared with US$132.2 million deficit in 2018, an improvement of 63%.
■ Increase in merchandise exports of US$190 million surplus or 13.8% during 2018, to US$1.567 billion. Merchandise imports increase by US$608.9 million or 25.25% to US$3,019 million.
■ Current account deficit of US$1,802.8 million, compared to a deficit of US$1,438.8 million in 2018; and a surplus of US$ 463.6 million in the capital account, compared to a surplus of US$376.2 million in 2019.
■ Current revenue of $240.6 billion compared with $217 billion in 2018, an increase of 10.86% and an increase of $2.358 billion or 0.95% from budget of $238.3 billion. Current expenditure exclusive of interest $ 207.7 billion, an increase of 8.67% over 2018.
■ Capital expenditure of $66.3 billion compared with budget of $69.2 billion.
■ Overall fiscal deficit of $40.02 billion compared with budgeted amount of $ n 52.15 billion in 2018.
■ Gross external reserves of Bank of Guyana at the end of 2019 of US$ 575.9 million, a decrease from US$528.4 million in 2018, or 1.6%. This represents 1.8 months of import cover.
2020 Targets Size of the Budget: $329.5Bn, 28.8% increase
■ Real GDP is expected to grow between 48.4% and 51.2% driven by the oil economy. The non-oil economy is expected to contract between 1.4% and 4.3%. In the first half of 2020, non-oil GDP declined by 4.9% while the oil sector grew by 45.9%.
■ Inflation between – 0.23% and +0.7%.
■ Balance of Payment deficit of $21 million compared with $48.9 million in 2019.
■ Merchandise exports to increase by 58.4% or US$2,482.9 million and imports to reduce by 22.6% or US$2,338 million.
■ Current account to register a contraction of the deficit of US$971.1million to US$831.6 million. Capital account surplus of US$ 956 million compared with US$ 283 million for 2019.
■ Current revenue of $226.5 billion, a decrease of 6%. Current expenditure of $240 billion, an increase of 16%.
■ Capital expenditure of $72.1 billion.
■ Overall fiscal deficit of $95.5 billion to be financed by domestic borrowings (79%) and external borrowings (21%).
