Guyana economy grows 33.3% in first half of 2026

Guyana recorded an estimated 33.3% increase in real Gross Domestic Product (GDP) during the first half of 2026. President Irfaan Ali reported that the oil and gas subsector grew by 41.3%, while the mining and quarrying sector expanded by 40.7%. The non-oil economy grew by approximately 10.1%, marking six consecutive years of expansion. Due to this performance, the full-year real GDP growth forecast has been revised upward to 20.8%.

Regarding the cost of living, President Ali stated that government measures are reducing food costs, noting that chicken prices at farmers’ markets have nearly halved and egg prices have fallen. The administration has implemented several cost-saving measures for the agricultural sector, including reversing increases in drainage, irrigation, and land rental fees, which reportedly saves farmers approximately G$1.4 billion annually. Additionally, taxes have been removed from various agricultural inputs and machinery, and zero-rated VAT has been restored for basic food items like flour, bread, and cooking oil.

However, consumer experiences vary, as market reports indicate significant price fluctuations for items like eggs depending on the vendor and location. While most sectors are expanding, the agriculture, forestry, and fishing sectors saw a marginal contraction of 0.5% due to weather conditions and higher input and transportation costs.