Georgetown: The Private Sector Commission (PSC) has deemed 2012 as a successful year; however it is below the 5.4% gross domestic product (GDP) of 2011.
Chairman of the PSC, Ronald Webster says this is as a result of the unstable global economy and the Linden unrest.
“The major challenge in 2012 was the problem at Linden which disrupted movement in the southern part of the country and also exports through to Brazil. Probably the major impact came from very unstable local market and this is something we would be monitoring through the early part of 2013.”
He added that most companies have exceeded their performance targets for 2012
“There is growth in the services sector especially in financial services and ICT and expansion in manufacturing sector to increase exports. We project there would have been a slight decline in the construction but this would have picked up its momentum towards the end of the year.”
There has also been an increase in the tourism, the banking sectors, rice exports, gold prices and bauxite production and exports.
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