LEADER of the Alliance For Change (AFC), Khemraj Ramjattan, on Friday acknowledged that the party is aware that the country’s economy is on an upward trajectory. However, he has criticised the recent International Monetary Fund (IMF) report which has highlighted this growth.

Ramjattan was at the time delivering a statement during the AFC’s press conference which was held at the party’s office at Railway Embankment, Kitty.

During his remarks, he noted that the reports are supposed to have inputs from representatives of the opposition but there was reportedly no consultation with the parliamentary opposition.

Against this backdrop, he said that the AFC is aware that there will be rapid growth in Guyana’s economy. While acknowledging same, he claimed that this huge growth is hardly reaching the Guyanese people.

The IMF report said that Guyana has experienced Gross Domestic Product (GDP) growth with a 62.3 per cent increase in 2022 which is said to be the highest in the world.

This growth, the report added is expected to continue in 2023 with a projected increase of 38 per cent as the country continues to build its image as a top destination for investment.

At the same time, the report highlighted that the current expansionary fiscal policy stance is an appropriate one given the country’s development needs.

Added to this, it noted that oil production was among the drivers of this growth as production is ramping up with the coming on stream of a third oil field along with growth in the non-oil sector.

The report said that spillovers from oil and construction are supporting growth in the services and supplies sectors while agriculture, mining and quarrying are performing well.