Despite Guyana's modern mining sector and efficient sugar industry, economic development has been hampered by an adverse physical environment, a largely unexploited resource base, a small domestic market and political instability. Economic growth has been uneven and marked by persistent high unemployment, low growth of agriculture, weak balance of payments performance, and sluggish private investment. Depressed world prices for bauxite and adverse weather conditions have slowed development recently. A deteriorating fiscal situation, loss of considerable foreign exchange reserves, and a heavy dependence on a few traditional exports are serious problems for long term development. Intensive farming of recalimed land is needed to increase agricultural production, reduce unemployment and alleviate rural poverty. Mining has been the most dominant sector, but it is difficult to forecast long-term trends for aluminum. Adequate growth rates will require expansion and diversification of exports and adoption of appropriate incomes, price and production policies.
Details
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Document Date
1973/12/19
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Document Type
Pre-2003 Economic or Sector Report
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Report Number
242
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Volume No
2
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Total Volume(s)
2
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Country
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Region
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Disclosure Date
2011/10/01
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Disclosure Status
Disclosed
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Doc Name
Statistical appendix and description of major taxes
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Keywords
Agricultural credit; Agricultural product marketing; Agricultural production; Agriculture; Balance of payments; Bauxite; Creditworthiness; Diversification; Economic growth; Education; Efficiency; Electric power; Equity; Exchange reserves; Finance; Health; Housing; Income elasticity; Manufacturing; Mining; Price policy; Private investments; Public administration; Public investments; Resources mobilization; Rice; Rural settlements; Sugar; Taxation; Transport; Allocation of resources
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Citation
Guyana - Current economic position and prospects (Vol. 2) : Statistical appendix and description of major taxes (English). Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/962661468255879597/Statistical-appendix-and-description-of-major-taxes