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Guyana’s economy is expected to be not affected by COVID-19 in 2020. This is mainly possible due to a smaller number of COVID-19 infections and deaths in Guyana. As of 03^rd June 2020, Guyana had 153 confirmed COVID-19 cases out of which 70 people have recovered from the disease while 12 have lost their lives.

The COVID-19 pandemic has negatively impacted Global economic activity. No country whether advanced, emerging or developing has remained untouched from slowing economic growth, rising job losses and increasing human cost.

Today we will be focusing on economic impact of COVID-19 pandemic on Guyana. We will also be taking a look at the social, fiscal, monetary and employment related policy measures taken by Guyana government under following sections –

1. Impact of COVID-19 on Guyana Economy in 2020

2. Coronavirus (COVID-19) Related Fiscal Policy Measures by Guyana

3. Coronavirus (COVID-19) Related Monetary Policy Measures by Guyana

We have covered various macroeconomic factors and PESTLE (political, economic, social, technological, legal, and environmental), SWOT (Strengths, Weaknesses, Opportunities and Threats) and risk analysis for Guyana in separate market research reports.

1. Impact of COVID-19 on Guyana Economy in 2020

Guyana’s real gross domestic product (GDP) was GYD 443.303 billion in 2019 and it is estimated to increase by 52.77% to be around GYD 677.226 billion in 2020.

Guyana’s unemployment rate was 11.852% of total labor force in 2019. The unemployment levels in Guyana is expected to decrease by 0.53% and reach 11.79% in 2020.

Guyana’s current account balance which has been constantly declining since 2016. It is expected to improve it’s current account balance at -20.384% of GDP in 2020 from -40.318% of GDP in 2019, meaning Guyana will remain net borrower from rest of the world in 2020...