The Struggle of Guyana’s Economy
Guyana is the third smallest country on the continent situated on the northeast coast of South America. This country struggled a lot in their way to stabilizing their economic growth.Guyana’s economy is mainly dominated by the production and processing of primary commodities. Where gold, sugar, and bauxite are the most important production. The country is undeveloped, with 90 percent of the population is almost concentrated in agriculture in the narrow coastal plain.The bulk of the populations engaged in agriculture, either as a labourers or sugar plantations or as peasant cultivators of rice. The production of sugar, rice, gold and bauxite may continue to be important in their way of living, but Guyana’s economy suffered a severe declined in the late 1970.However, Guyana’s economy improved dramatically under the ERP (Economic Recovery Program) launched by the government in April 1989.this remarks the beginning of the developing of their economy. The production of their significant products increases during 1997.The economy of Guyana may have struggled in the late years, but they’ve shown other country that they can improve their economy.
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