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Reply to "Guyana Growth rate from January to June 2015 - 0.9%"

Originally Posted by Billy Ram Balgobin:

Guyana supposed to be saving millions in oil imports since world market prices have dropped more than 60%. There is no excuse here. Basemen is correct in saying that the drop in gold price is offset by the decline in oil price. The price of gold has been around $1100 for a quite a while. I don't see how any major drop in the price over the last year. 

Neither you nor baseman know anything about economics.

 

More than 50% of the foreign exchange is earned by gold.  the earnings from that industry spread to the real estate, construction, and retail sectors.  Thousands earn a living in those 4 sectors.

 

When gold prices drop, and production plummets, the economy declines.  the fact that oil might be cheaper is beside the point.

FM
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