Economic growth in Guyana increased to 4.5% in 2019, mainly due to increased timber and gold production. In advance of commercial oil production due to start in 2020, there was growth in other areas of the economy, such as construction and services. The overall fiscal deficit widened as current and capital expenditure increased. The public debt ratio fell slightly.

Oil production starts in 2020, stimulating economic growth and providing windfall revenues for the Government. The resulting increase in public expenditure will need to be carefully managed to avoid creating inflationary pressure. Reforms to the business environment will be necessary to ensure that non-oil industries can become more competitive.