DESPITE what has been speculated as slow economic activities during this year, partially blamed on the May 11 elections, the business community, as usual, is expected to make a rebound and Guyanese can expect a good Christmas season which ushers in 2016, says Minister of Business Dominic Gaskin. Speaking with the Guyana Chronicle yesterday, Minister Gaskin explained that while there can be no real analysis of the performance of business-generated activities until January of next year, the business community and Guyanese at large can expect a good Christmas based on positive indications.
One of these indications, he said, is the fact that businesses are investing in Christmas stocks just as they have done in the previous years. And according to him, for persons to invest, there must be indications from consumers that they are willing to buy.
Additionally, Minister Gaskin offered that the release of funds by government for various projects across the country is a direct injection of funds into the economy, which increases the spending power of consumers since they benefit from these contracts through employment.
“Guyanese benefit from these contracts through employment. So with people earning more, they are likely to spend which increases economic activities” he posited.
However, Gaskin could not offer a comment on foreign-funded projects and the extent to which these have “kicked in,” thus contributing to increased economic activities.
“There are no signs of people not preparing for the Christmas season as they have done in the past… There are indications signalling benefits for both the businesses and the consumers,” he asserted.
Minister Gaskin lamented the fact that Guyana currently does not map economic performance on a short-term, which would have been a critical tool in providing greater insight into what is happening presently in the economy.
Underscoring the role of the Guyana Police Force (GPF) in maintaining control during this time, the Business Minister lauded the efforts of the force, saying it has done “fairly well.”
However, he reasoned that the vulnerability of some businesses are exposed, given that they do not operate in highly commercialised areas such as Regent Street or Water Street, where the police are known to have a demanding presence during the holidays. As such, these businesses functioning in less commercialised environments are more prone to security threats.
The lack of capacity in the police force which has been a major challenge was also highlighted as one of the factors that, if addressed, could lead to reduced security threats and vulnerabilities.
Acknowledging that crime has an adverse effect on the business community, Minister Gaskin highlighted the fact that the community has been “resilient,” even in the face of crime and threatened security.
“Even in the face of crime, people still invest,” he said, adding that the business community must be commended for their determination to operate even while they are at risk.
Just recently, the police in Georgetown conducted a walkabout along Regent Street as part of an initiative to gather information from the business community to help craft a security plan for the Christmas holidays.The police every year in December would roll out a Christmas security plan, but this has been criticised over the years as being weak and ineffective.
And according to ‘A’ Division Commander Clifton Hicken, emphasis will be placed on the availability of CCTV systems at business premises, physical security reinforcement and ‘plan B’ initiatives in the event of security breaches or should establishments be attacked by bandits, especially those posing as customers.

By Ravin Singh