Guyana’s economic growth poised to surpass IMF projection – Min. Indar
As Guyana continues to experience unprecedented growth, Minister within the Ministry of Public Works, Deodat Indar has emphasised the increasing demand for human resources across various sectors.
Minister Indar was speaking at the Machinery Corporation of Guyana’s (MACORP) 30th anniversary celebration held at the Marriott Hotel, Kingston, Georgetown, Wednesday evening.
He noted that enterprises such as MACORP are contributing to the nation’s overall development boom.
“Because if you are going to build a country you have to construct it from end to end and as you construct it you need the machinery, materials, manpower, and money. You provide the machinery, so you are one-quarter of the mix of the resources needed to build out the country,” Minister Indar told representatives of MACORP.
According to the minister, the International Monetary Fund (IMF) has projected Guyana to grow about 59.5 per cent this year, but he believes that with the achievement to date, there is no doubt the country will surpass this prediction.
“I think it is going to go higher than that for 2023, 59.5 per cent GDP in a single year…that is unheard of…The rest of the globe is growing at 2.3 per cent. We are growing at double digits and now projected to grow at triple digits and that is what the story of Guyana is,” he underscored.
To this end, Minister Indar highlighted the importance of human resource development, while acknowledging MACORP’s exemplary engineer training programme, urging for it to be expanded to further bolster the nation’s human capital.
This push will align with the government’s priority to empower and equip citizens with the necessary skills.
“The people at MACORP are doing fantastic, I think the economy provides the right mix of ingredients that you need to expand. So business is all around and this is not just happening in this company, this is a cascading thing that is happening in all of the industries,” he added.
A number of businesses that provided exemplary service over the year were lauded at the event with the presentation of awards.
Since assuming office in 2020, the government has executed massive infrastructural projects across the country. To date, the public works ministry has constructed about 4,000 community roads across Guyana.