Growth in 2000 down by 1.8% Stabroek News February 6, 2001 Preliminary estimates of real economic growth in Guyana last year shows the country to be in a worse position than it was in 1999 by 1.8 per cent because of drastically lowered output in the productive sectors. This means that growth for 2000 was -1.8 per cent compared with the budget projection of three per cent. The Bureau of Statistics is to still release the final real growth achievement of 2000. Stabroek News understands that the -1.8 per cent estimate is not expected to decrease any further but may be improved upon. Sugar production, which has a 15.6 per cent weight in the growth index, declined by 14.9 per cent in 2000. Final output in sugar was 273,703 metric tonnes. Rice, which has a four per cent weight and is also a major foreign exchange earner for the rest of the economy, declined by 20.1 per cent. Rice output was 291,841 metric tonnes. The forestry sector is also expected to see an estimated decline of 15 per cent. The mining and quarrying sector, which has a 11.6 per cent weight in the index, has benefited from improved output. Bauxite output has grown by 11.6 per cent at 2,632,870 tonnes, while gold output has increased by nine per cent at 14,078 kg. Diamond output has increased by 80 per cent to reach 84,348 metric carats. The distribution sector has seen an improvement in 2000 as well by 3.6 per cent and government services, which has a 12.1 per cent weight in the index, is expected to increase by about six per cent as a result of the increased wages in 2000. However, the combined effect of the decline in production with the increases in the services and quarrying sector is not expected to realise positive growth for the economy for 2000. Guyana, which had been enjoying relatively high levels of growth between 1991 and 1997, saw a downturn in economic performance in 1998 with -1.8 per cent growth. Real growth in 1999 was three per cent, compared with a target of 1.8 per cent. Inflation for 2000 was below six per cent. Follow the goings-on in Guyana in Guyana Today