Gov’t doubling down on non-oil investments as Guyana’s economy surges — Finance Minister Singh

With Guyana’s economy recording a 7.5 per cent growth in the first half of 2025 and the non-oil economy expanding by a robust 13.8 per cent, Senior Minister in the Office of the President with Responsibility for Finance, Dr. Ashni Singh, has reaffirmed the government’s commitment to using this period of rapid transformation to further diversify the economy beyond oil.

The Mid-Year Report for 2025 underscores that the government remains firmly on course with the policy direction set out in Budget 2025, which continues to focus on inclusive and sustainable growth. Dr. Singh said the administration is capitalising on the ongoing economic boom to accelerate investments that strengthen and broaden the non-oil productive base.

“Even as the petroleum sector continues to expand, the non-oil economy is providing strong momentum, reaffirming that our growth model is diversified and resilient,” the report noted.

Among the standout performers, the agriculture, fishing and forestry sector grew by 9 per cent, driven by improvements in rice, other crops, livestock, forestry, and sugar. The mining and quarrying sector increased by 5.9 per cent, reflecting higher output across bauxite, gold, and other minerals.

The manufacturing sector surged by an impressive 26.8 per cent in the first half of the year, while the construction sector climbed by 29.9 per cent, supported by the government’s expanded Public Sector Investment Programme and strong private investments. Construction growth for the full year is projected at 26.2 per cent.

The services sector also recorded solid expansion of 6.6 per cent, supported by activity in wholesale and retail trade, finance, administration, and professional services, with a full-year projection of 8.6 per cent.

Meanwhile, the government’s housing and infrastructure drive continues to reshape the landscape. The Mid-Year Report highlights that real estate mortgages expanded by 11.4 per cent to $173.5 billion, reflecting increased demand for private dwellings and commercial properties, aided by lower mortgage interest rates.

The People’s Progressive Party/Civic (PPP/C) has maintained that its economic agenda is grounded in a robust and sustainable framework designed to mitigate the risks associated with rapid oil-led growth.

“Our policies ensure that this period of high economic growth is managed responsibly — to prevent Dutch Disease, contain inflation, preserve competitiveness, and ensure that prosperity translates into meaningful and lasting improvements in people’s lives,” the PPP/C Manifesto outlines.

As Guyana cements its status as one of the fastest-growing economies in the world, the government insists that its focus remains clear: building a diversified, future-ready economy that benefits every citizen.