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2007/08 Economic Survey
Background
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The Bureau of Statistics, with support from the Ministry of Finance, will be undertaking an exercise to rebase Guyana’s Gross Domestic Product
(GDP) - a measure of goods and services produced by the economy. This requires executing a survey among
the business community to provide the required data.
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Why an Economic Survey?
Guyana’s economy has undergone significant changes in the last
few years. As such, this survey is a significant step forward for Guyana,
because of the pressing need for current economic data, considering that
the last such survey was conducted in 1991. An economic census (exercise
in which every single business is required to provide data) would have been ideal, but because of resource constraints (time, manpower and finance),
the Bureau will be conducting a survey instead (i.e. collecting data from randomly selected
businesses). The survey will be randomized, and hence any business will
have an equal chance of being selected.
Why should
the Business Community cooperate?
This
exercise will be a fairly new experience for some members of the business community, although it is standard practice in
some countries in the Caribbean and other parts of the world. It is, however, an opportunity for participating businesses to help us provide
the data, which the business community themselves will use to guide policymakers. While many persons have opinions on economic conditions and trends, it is only when actual data is available for analysis that definitive statements can be made. Our goal is
therefore to provide such data.
How exactly can this data
help?
Here is a reminder of the various ways in which the economic data obtained from this survey can be used:
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By the Private Sector:
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By the Public Sector:
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public policy formulations |
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public investment programmes |
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programmes to assist local businesses |
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research |
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THE SURVEY PERIOD WILL BE FROM
NOVEMBER 2007 THROUGH THE FIRST QUARTER OF 2008 |
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In carrying out this and other surveys, the Bureau is mandated to request information under sub-section 1 of Section 9 of the Statistics Ordinance 1965, and the revised Bureau of Statistics Act 1992. It is a legal obligation, under this law, to provide data that has been requested by the Bureau. The Bureau is also required to keep information supplied in strict confidence, and any data published is
aggregated, so that the operations of any one firm or agency cannot be identified.
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Questions? Please contact the National Accounts Department
nataccts@statisticsguyana.gov.gy (preferred method) or via 227-1155
Brickdam and Avenue of the Republic, Georgetown
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Copyright © 2007 Bureau of Statistics (Guyana)
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