Economy / Guyana
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Macroeconomic Forecast Guyana
August 2008 | Macroeconomic ForecastsSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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Guyana's current account deficit widened sharply in Q108 to US$117.1mn, up from US$41.6mn in Q107. The catalyst behind this deterioration was a 44.5% surge in import growth on the back of record global energy prices during the quarter. While energy prices have begun to retrace, and should continue to do so over the remainder of H208, we expect import growth to remain high, while export and remittance growth should continue to cool. As a result, we have revised our current account deficit forecasts for 2008 and 2009 to US$380mn (from US$280mn) and US$350mn (from US$300mn) respectively.