Guyana’s Economy Stagnated from 1964 to 1992

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This page was first published on the 7th April, 2020 by Patrick Carpen.

Last updated: April 7, 2020 at 20:12 pm

If you are going to judge the performance of a government, you have to do so using a variety of parameters. These include, but are not limited to:

  • Happiness of the people.
  • Migration/emigration rate.
  • Gross Domestic Product.
  • Employment/Unemployment ratio.
  • Infrastructure Development.
  • Education.
  • Strength of Currency.
  • Debt incurred/repaid over a 5 years period.
  • External debt.
  • Reserves.
  • Religious Freedom.
  • Freedom of Speech.
  • Crime Rate.
  • And much more.

Someone from the APNU/AFC camp once asked me what was my opinion of the APNU/AFC government’s performance since taking office in 2015. I responded that I do not know since I have not yet done an in depth analysis of the government’s performance, but that I will work on it. I have not as yet taken the time to do an in depth analysis of the governance of the two major political parties, but I’m starting my research bit by bit.

Today, I’d like to discuss Gross Domestic Product (GDP) of Guyana from the year 1966 (Independence) to 2018 (when the APNU/AFC government fell by no confidence motion).

An independent report shows that Guyana‘s economy was stagnated for 28 years of PNC/R rule. In the year 1966, the GDP of Guyana was 344 US dollars per capita. By 1992, the GDP was only 499 US dollars per capita: a marginal growth which reflects a stagnated economy.

When the PPP/C took office in 1992, the GDP, as we mentioned, was 499 US dollars per capita. When the PPP/C left office in 2015, the GDP blew up to 4166 US dollars per capita.

Source: https://www.macrotrends.net/countries/GUY/guyana/gdp-gross-domestic-product

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