AGP Executive Report
Last update: 10 hours agoGDP & Jobs Momentum: President Irfaan Ali says Guyana’s economy grew 33.3% in the first half of 2026, with non-oil up 10.1%, lifting the full-year GDP forecast to 20.8% and non-oil to 10.2%. Cost-of-Living Pressure: The government’s mid-year report shows food prices up 6.7% and overall inflation at 4.4% (Dec 2025–Jun 2026), even as growth accelerates. Electricity Crisis: Ali admits blackouts can’t be ruled out immediately and calls for a structural grid overhaul as demand rises; GPL is also flagged as operating with razor-thin spinning reserve. Power Sector Spending & Contracts: Government awarded about $2.44B in contracts to upgrade three market facilities (Pouderoyen, Buxton, East Ruimveldt). Tax Dispute: GRA appeals a High Court ruling that quashed nearly $800M in taxes tied to Hana and Bibi Mohamed and blocked seizure of luxury vehicles. Finance & Trade Signals: Citibank is set to open a representative office in Georgetown; credit card settlements hit about US$356M so far in 2026. Youth & Enterprise: A Youth Entrepreneurship Conference drew 265 students, while tourism leaders push back on “menial jobs” perceptions. Oil Market Risk: Gulf shipping disruptions and pipeline attacks are pushing crude higher, adding new risk to energy-dependent economies. Diaspora Culture: Minister Steven Jacobs backed the Guyana Cultural Association’s Folk Festival Family Fun Day in Brooklyn.
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