Question

what are the microeconomic and macroeconomic indicators of Guyana, Barbados and Cayman

Answer 1

Guyana:

The economy is based on agriculture and mining mainly on gold and bauxite. The main cash crops are sugar and rice. After near collapse in 1982, the economy was resuscitated by strict implementation of IMF-backed economic reforms.

The reforms include extensive privatization of state owned operations like Sugar corporation, Guyana airways corporation. Privatization led to investment and creation of new jobs.

By mid 1990's these reforms has success in stabilizing the currency, controlling inflation and increasing output and trade. The economy was growing at the annual rate of more than 6% in 1996 and 1999.

Barbados:

Barbados has transformed itself from a low income agricultural economy into a more diversified, middle income economy.

Increase in arrivals and spending by tourists have helped economic growth in past years. The top income tax rate is 35% and the top corporate tax rate is 25%. Other taxes include value added and property taxes. The overall tax % includes 33.7% of total domestic income. Over the past three years government spending has amounted to 34.1% of country's output.

Cayman:

In a view of heightened socio-economic and political uncertainties in 2016,global economic activities during the year experienced a decline in the overall growth from 3.4% in 2015 to 3.1%. As reported by the international monetary fund most major economic recorded a deceleration in growth except Canada.

Against the global backdrop the Cayman islands marked another year of economic resilience in 2016. Gross domestic product is estimated to have improved by 2.7% this year.