Coming on the heels of the successes recorded in the latter part of 2020, Guyana’s total revenue is expected to increase by 17 percent, with earnings in the petroleum sector alone reaching over US$500 million by the end of this year.
Having already earned US$267 million from the sale of oil and royalty payments through 2020 and March 2021, Guyana’s balance at the end of this year could reach over US$500 million.
Revenue aside, driven mainly by a projected increase of 46.7 per cent in oil production, from 74,300 barrels per day in 2020 to 109,000 in 2021, Guyana’s Gross Domestic Product (GDP) is estimated to grow by 20.9 per cent this year, according to the IDB.
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