GUYANA has made positive economic development since the time this government took up office. More importantly, is the fact that the past year was one in which many areas of development were realised.

Yes, there are some areas in which growth was less fruitful than others, but judging from the economic achievements of 2009, what was achieved in 2010 will give a significant economic boost to Guyana, that will in no doubt, complement that very promising previous year of 2009 as well as 2011 and the coming years ahead. I want to reply to a recent letter which was published in the Stabroek News, January 1, 2011 (“Why is the government not making an effort to reduce the deficit?” Sasenarine Singh,).
While Sasenarine Singh may have relied upon a reliable source, the Bank of Guyana website, the BOG website also boosted a lot more information that Singh neglected for his own selfish aspirations and political ambition. As of September 2010, Bank of Guyana reports placed inflation at 2.8% and stable exchange rates at 0.12% against the USD, with lending rate at 14.54%. Economic growth for 2010 is expected to be 2.9%, with positive growth since 2005, despite this, balance of payments’ surplus persists, declining to its current US$57.9 million, from US$206.1 million in 2009 due to increases in import costs. BOG reports placed rice production for the January to September period at 237,071 tonnes, a 29.3% increase, and the forestry sector also improved by 9.9%.
Sasenarine Singh’s missive in the Stabroek News of January 1, 2011, in which he quoted figures from the Bank of Guyana Statistical Bulletin was very selective, and did not represent all areas of economic and social life in Guyana.