THE Government will continue to pursue prudent fiscal measures to ensure economic growth in 2015 and beyond, Finance Minister Dr. Ashni Singh assured last Saturday.He said the development the country has experienced over the last nine years was achieved against the background, not only of the complicated, domestic political reality, but of severe world economic troubles.
The Finance Minister, during an interview on NCN’s “Political Scope” programme, said along with the complications of the domestic, political situation, it was a most commendable achievement that growth over nine years was sustained.
The minister pointed out that the PPP/C government has worked hard to “create the conditions that are necessary for achieving and sustaining growth and for improving the quality of life.” This was due in part to the diversified nature of the local economy.
“The economy is more diversified than it was or has ever been in history. Today, our people have more access to social services than they ever had, physical infrastructure is more expansive than it has ever been, and I would say that certainly at the start of the 10th Parliament, investors’ confidence in Guyana was at the highest point that it has ever been in our country’s history.”
Commenting on the strong investors’ interest displayed in Guyana, Dr. Singh said there have been very significant inflows of capital through foreign direct investment, in addition to very significant volumes of domestic investments, “both by the corporate sector and household sector.”
Guyana’s strong economic performance needs to be applauded by all Guyanese entrepreneurs who have worked hard to make the economy grow, he said, adding that “…hundreds of thousands of Guyanese workers have contributed to this economic growth being achieved, and their contributions are to be recognised.”
The continuous economic growth has inevitably resulted in the lives of Guyanese being improved, the Finance Minister added, as he cited the fact that thousands now own their own homes, have more access to social services, and more young people are completing secondary education, achieving university education and working and earning incomes.
He acknowledged that government has to continue working for more improvements but, individually, Guyanese also have to continue to work to improve their own circumstances. “Government will do what it has to do, but significant efforts have to be expanded to continue to achieve prosperity.”
Referring to the political Opposition’s decision over the last three years to cut the national budget, Minister Singh stated that the Constitution is “clear” on this issue. “The Chief Justice has ruled on this matter, that arising out of the 2012 budget cuts, that matter ended up before the court, and the Chief Justice handed down the ruling in 2013. It was quite clear that the National Assembly acted outside its institutional remit in imposing cuts to the national budget.”
Government will continue to be guided by the Constitution, the minister added, and  shared the view that has been expressed publicly by the Attorney General on the current action brought before the court by the Opposition leader as “frivolous and without merit,” because the issue has been ventilated in the court already and the court has pronounced on it. The minister said he is optimistic that the court’s ruling will be consistent with the previous one, which stated that “government acted entirely within the constitutional and legislative mandate and remit in managing the operations of government” as it restored some finances disapproved by the opposition-led National Assembly.

(GINA)