The local economy enjoyed a growth in the overall Gross Domestic Product (GDP) by 43.6 per cent in 2024. This was revealed by Finance Minister, Dr Ashni Singh as he presented the National Budget for the year 2025 today.
The theme for this year’s Budget is “A secure, prosperous and sustainable Guyana.”
According to Dr Singh, the non-oil economy expanded by 13.1 percent as a result of growth in the rice sectors, other crops, bauxite and other mining, quarrying and others.
Meanwhile, the oil and gas sector expanded by 57.7 per cent due to the ramp-up in production on the Prosperity FPSO. Crude oil exports increased by 55%.
The gold mining industry also recorded a 0.5 per cent growth while the manufacturing sector expanded by over 13 per cent. Growth was recorded in the services sector as well as others. 
The current National Budget is being presented eight months before parliament is dissolved for the 2025 General and Regional Elections.
Minister Singh pointed out that this year’s Budget aims to complete and exceed his Government’s 2020 manifesto promises, lay the foundation for the PPP next term in office and beyond.
“…our aim is to ensure every single Guyanese family is able to meet their needs and accumulate wealth through their own efforts,” he said.
