Finance minister upbeat about Guyana’s economy

TIMES INT'L

Finance Minister Dr Ashni Singh said that Guyana is in its most exciting years, well poised for extreme rapid growth as the country has recently made several large investments. He was at the time responding to questions by reporters following the swearing in ceremony on Monday.

“We have done a lot and put in place the institutional prerequisites to sustain this growth and for all of those reasons and more, I am extremely optimistic about the next five years for Guyana,” the minister said.

As it relates to priorities, he said that much focus will be placed on sustaining and consolidating the environment that has been created over the years and ensuring the materialisation of the investments that are already underway. Investors’ interest in Guyana has been growing at an unprecedented rate owing to the stable economic environment that government has managed to create. This has led to the emergence of a rapidly evolving and lucrative private sector.

Last month, three huge mining deals were signed with reputable companies – such as Sandspring Resources Inc and its affiliate ETK Inc in Canada for a large-scale mining operation at Toraparu, Region Seven, Cuyuni and Mazaruni rivers, Guyana Goldfields for the development of the Aurora mines in Region Seven, First Bauxite Corporation to develop the vastly underexplored bauxite minerals in Bonasika along the Essequibo River and the much touted Marriot Hotel.

The finance minister explained that with continued growth come all the associated benefits which will ultimately lead to the upliftment and improvement of the lives of Guyanese citizens.

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