As the country nears the close of the third quarter, Central Bank officials have confirmed that the services sector will surely take a hit due to the Coronavirus outbreak. During an exclusive interview with Guyana Standard, it was noted that restaurants and certainly, the beverage industry, will “feel the squeeze.”
But as for the other major traditional sectors like gold, forestry and bauxite, they said it is still a bit too early to tell just how much damage has or will be done.
“Overall, I can tell you that the real sector has not been affected at this time. But we have taken note of the fact that Guyana Goldfields for example, they suspended their underground development operations and we would have to assess the implications of that. ExxonMobil on the other hand, I have seen statements where they said that the Guyana operations have not been affected so we are watching the developments,” one Senior Official said.
While the overall assessment is still to be done, the officials were keen to note that the economy is not likely to achieve full potential level this year. They assured that all sectors are being “closely monitored” while noting that there is no need for consumers to be worried about shortages.
