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The Guyana government says the global environment is impacting the revenue of the oil and rice industries, but remain confident that the country’s economic projections would be met.
Finance Minister Dr. Ashni Singh, during the first sitting of the Parliament following the September 1 regional and general election, tabled the mid-year economic report showing that the international environment was having an effect on the industries.
According to the report, the country’s oil revenues barely increased during the first half of this year due to a reduction in international oil prices, even as the sector is projected to grow this year with the start of production by the floating production storage and offloading (FPSO) vessel at Yellowtail in the Stabroek Block.
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