Demerara_Guy posted:IMF warns against exorbitant spending before 2020 oil
Speaking generally to the state of the Guyana economy, the IMF in presenting its account noted that real economic activity expanded by a miserly .2 per cent over the previous year up to 3.3 per cent in 2016.Continued downward development trend by the PNC/AFC.
The IMF referenced an economy which has been under stress for 5 years. You do know that the PPP lost power only 2 years ago.
In fact Guyana's economy began to slow as gold prices drop, this having impact on the construction and retail sectors.
In 23 years the PPP left and economy which was structurally the same as they found it. No new industries and no further value added processing of its commodities. So no wonder vulnerability to commodity price changes is a feature of the Guyanese economy.