Private sector credit surged by 19.8 per-cent in 2024, reflecting unprecedented growth across Guyana’s economy.

The agriculture sector led the way with a 44.2 per-cent increase, followed by significant expansions in real estate mortgages (20.3 per-cent) and household lending (20.5 per-cent).

Presenting the 2025 National Budget on Friday, Senior Minister in the Office of the President with Responsibility for Finance, Dr. Ashni Singh, highlighted this growth as part of a broader economic transformation.

Private sector credit has grown by an extraordinary 72.3 percent from 2020 to 2024, underscoring the government’s focus on fostering private sector-led development.

“These numbers illustrate the confidence and resilience of our economy,” Dr. Singh stated, noting increases across sectors, including an 18.5 percent rise in the services sector and 1.8 percent growth in manufacturing.

The minister highlighted that the government’s policies, including incentives for investment and measures to support credit access, have contributed to this economic momentum.