Under the APNU+AFC Government, Guyana is finally moving in the right direction. In four short years, we have made great efforts to build a stronger country for all Guyanese. We understand the best way to provide for all our people is by growing the economy and providing well-paid and meaningful jobs. The previous PPP government left our country with crumbling infrastructure, a failing education system, a high crime rate and a country in serious decline. Our young people had little hope of a decent job, with thousands emigrating. Under the leadership of President David Granger, we are the fastest-growing economy in the Caribbean, with the development of new industries in energy, manufacturing, outsourcing and tourism. We have made a start but there is much more to do. Only under the honest and qualified leadership of David Granger will we secure a better future for Guyana.
Our success in managing the economy is key to provide a better standard of living.
- Guyana’s economy grew at 4.1% during 2018, hitting an all-time high of $689B. This was a dramatic increase from growth of 2.1% in 2017. Guyana’s economy grew the fastest in the region, with the greater Caribbean and Latin America having an average growth of 2%. The economy is predicted to grow at a steady 3.4% thanks to this government’s leadership. (Bank of Guyana, ‘Annual Report 2018’, p. 6, p.15, Appendix-10).
- Foreign Direct Investment (FDI) increased by 75%, from US$282.7M in 2017 to US$494.8M in 2018. (Bank of Guyana, ‘Annual Report 2018’, p. 19)
- An estimated 15,000 jobs created by the government’s GO-Invest programmes. (Go-Invest, ‘2015-2018 Figures’, p. 2)
- Distribution, construction, transportation & storage and other services industries experienced job creation. (Bank of Guyana, ‘Annual Report 2018’, p.13)
- Diversifying the economy away from traditional agriculture into more high-value industries: manufacturing, tourism and natural resources extraction. (Bank of Guyana, ‘Annual Report 2018’,p.6)
- Launch of a Sovereign Wealth Fund to use oil revenue for investment into Guyana. The World Bank has also provided US$20M to help write new laws and improve governance to ensure greater transparency around oil wealth to ensure all Guyanese benefit. (DPI, 29 March 2019; World Bank, 29 January 2019, p.5)
- In the first half of 2018, Guyana Office for Investment (GO-Invest) assisted 57 projects with an investment value of $10.4B creating approximately 700 new jobs. (GO-Invest, ‘2015-2018’ Figures, p. 1)
We continue to create employment opportunities for all Guyanese across the country, including a greater emphasis on vocational training.
- US$15M allocated to vocational training for youths to help reduce unemployment, with 294 people already trained and a further 555 youths currently receiving training. (Ministry of Education, 21 April 2019)
- The government has supported young people and dynamic individuals to establish their own businesses through access to a $100M Revolving Fund. Around 2,727 loans and grants have been issued through the Hinterland Employment Youth Service (HEYS); Linden Enterprise Network (LEN); Micro and Small-Enterprises Development (MSED); Sustainable Livelihoods and Entrepreneurial Development (SLED); Women of Worth (WOW); and People of Worth Entrepreneurial Resources (POWER) initiatives. (DPI, ‘Coalition Government’s 200+ Achievements; iNews, 5 June 2018)
- The Special Youth Innovation Fund launched with a budget of $50M to support budding young entrepreneurs and their businesses. (Guyana Chronicle, 9 January 2017)
- Small Business Bureau helped support over 200 businesses through partial loan guarantees and grants worth around $180M in 2018, creating 535 jobs. (Ministry of Finance, ‘Budget Speech 2019’, p.40)