Guyana’s growth creating jobs, opportunities across all sectors – Finance Minister

Senior Minister in the Office of the President with Responsibility for Finance, Dr Ashni Singh, on Wednesday said that Guyana’s sustained economic growth over recent years has translated into increased employment and economic opportunities across all sectors.
Speaking during an interview with the National Communications Network (NCN), Dr Singh reflected on his first term since returning as Finance Minister in 2020 and the performance of the economy under the People’s Progressive Party/Civic (PPP/C) Administration.
He said economic growth, while important, must lead to improved living standards for citizens. According to Singh, this objective has guided Government policy, with recent economic performance supporting that approach.
The Mid-Year Report for 2025 shows estimated overall real GDP growth of 7.5 per cent in the first half of the year, driven by a 13.8 per cent expansion in the non-oil economy. Dr Singh noted that since 2021, the economy has grown at an average rate of more than 10 per cent, including strong performance in non-oil sectors.
He said increased foreign direct investment has played a key role, with new companies entering the market and partnerships being formed between foreign and local firms across multiple sectors. This, he explained, has been accompanied by rapid growth in private sector credit, which he described as the fastest expansion in the country’s history over the past five years.
According to the Minister, these developments have resulted in higher levels of economic activity, job creation and income generation. He stated that approximately 60,000 additional people have been employed over the past five years.
Singh pointed to employment growth in oil and gas, tourism, hospitality and healthcare. He said thousands of jobs have been created in the energy sector, while new hotels, restaurants and related services have expanded opportunities in tourism. In healthcare, he noted the establishment of new hospitals and increased demand for doctors, nurses, technicians and other professionals.
He added that Government has been accelerating training efforts to meet labour demand, particularly in the healthcare sector, where private hospitals are also expanding.
The Minister also highlighted activity in the construction sector, noting that growth is being driven by both public and private investment. He said major public infrastructure projects under the Public Sector Investment Programme, along with private industrial and commercial developments, have contributed to changes in the country’s physical landscape.
The Minister added that the private construction has included factories, warehouses, processing plants and office buildings, while housing construction has expanded following the distribution of more than 50,000 house lots during the Government’s first term.
He explained that home construction has generated employment for skilled and unskilled workers, including carpenters, masons, plumbers, electricians and transport providers, contributing further to job creation across the economy.
In addition to higher employment levels, Dr Singh said Government policy has focused on improving job quality through investments in human capital. He noted continued spending on education, training, skills development and social services as part of efforts to support long-term improvements in living standards.