Informal economy to be captured in GDP
Stabroek News
April 10, 2003
The government is working with the international financial agencies to change the base on which the national accounts are prepared to allow it to capture activities in the parallel economy.
Geoffrey DaSilva, head of the Guyana Office for Investment (Go-Invest) said on Tuesday that the government would be working to alter the base on which information is collected to compute for Gross Domestic Product.
A recent International Monetary Fund working paper by former resident representative in Guyana, Ebrima Faal, found that the informal economy currently averages 47% of GDP currently.
DaSilva noted that the tracking of the economy covers the major sectors such as rice, sugar, rum, wood and bauxite among others.
However, he said the national accounts base allows other sectors to escape unaccounted and this is to be corrected for.
DaSilva's statements were made on Tuesday evening at the launching of Development Finance Limited (DFL) equity financing and management services at the Cara Inn.
