I would like to remind Dr. Thomas, that despite the tough economic conditions that are expected in 2009, China and India are still projected to grow by 6.7% and 5.1% respectively. So why can’t Guyana achieve a smaller growth rate of 4.7%?

Instead of focusing on the big picture, Dr Thomas should look at the individual sectors of the economy and provide an analysis of whether the projections for those sectors are ‘make-believe’ economics. I am sure he would not!

Almost all of the sectors of the economy are projected to either decline or grow more slowly than they did in 2008. The main exception is the sugar industry, which Dr. Thomas rightly stated declined by 15% in 2008, which is expected to return to positive growth in 2009.

The economic base of the Guyanese economy has expanded significantly over the last decade and does not solely depend on the traditional exports of sugar, rice and bauxite. Today, exports of non-traditional agriculture are expanding, financial services and manufacturing activity keep on increasing and government spending on social services continue to provide employment for thousands that boost consumer spending and by extension, the economy.

Guyana is in a stronger position than most countries in the world to withstand the effects of this global downturn. Dr. Thomas should tell all Guyanese this instead of spreading his ‘gloom and doom’ opinions on the economy.
Quacie Galloway