EconWatch.com > Stabroek News - Private sector debt and the Guyanese economy

[Stabroek News] The decline in borrowing by households could spell trouble for the Guyanese economy as the fall in outstanding debt could mean that Guyanese are unwilling to spend more than their means.  Guyanese consumers account for over 60 percent of the spending in the economy and cutbacks by them could hurt economic growth.  The trend in consumer behaviour is an important barometer of the economy’s strength.  An increase in borrowing supports an increase in spending and this helps spur growth, whereas a decrease in borrowing suggests a decline in spending with the likelihood that the economy will slow down, unless increased government spending replaces consumer demand.

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