-Citizens Bank branch commissioned on Aubrey Barker Road
Speaking at the opening of a new branch of the Citizens Bank at Aubrey Barker Road in the city, President Irfaan Ali yesterday disclosed that the Ministry of Finance has completed the 2024 half year report which shows that Guyana’s GDP has grown an estimated 49.7%.
This year’s budget had projected an annual growth rate of 34.3%.
In delivering the feature address at the bank’s newest location, the President stated, “In the first half of this year, our overall real GDP grew by an estimated 49.7% in 2024. This is a real GDP growth for the first half of this year, a growth of 49.7%. What is impressive is that the non-oil economy continues to grow, and the non-oil economy grew by an estimated 12.6%.”
According to him, the revised full year forecasts for real GDP growth in 2024 is 42.3% and the non-oil economy 11.8%. “Pushing this growth and supporting this growth heavily for almost all the sectors, the sectors that face difficulties early in this year because of the drought conditions and other circumstances, are expected to rebound in the second half of this year and tomorrow morning, I’ll be outlining the strategy that will demonstrate how these sectors will rebound but the construction sector grew by an estimated 43.7%.”