World Bank projects 5.1% GDP growth for Guyana
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- Published on Wednesday, 18 January 2012 17:31
- Written by Super User
The World Bank has projected a 5.1 percent growth in gross domestic product for Guyana this year, the third highest in Latin America and the Caribbean.
In its global economic prospects released yesterday, the Bank said Haiti will see the highest growth of 8.1 percent, followed by Peru with 6.1 percent. Haiti's growth however is based on aid inflows from developing countries. The report said the Caribbean economy will grow by about 3.6 percent this year.
The World Economy, according to the report, will expand on an aggregate 2.5 percent in 2012, down from about 2.7 percent last year.
The World Bank also warned of the continued threat of a global financial shock, “similar in magnitude to the Lehman crisis, since a major European economy could be shut out of the global debt markets.
The Bank predicted that high-income countries, including the united states, france, Japan and Germany, would grow by 1.4 percent this year. Developing countries will grow 5.4 percent, down from a previous forecast of 6.2 percent.
