–Dr. Jagdeo says; highlights measures created to cushion high cost-of-living, shortages

EVEN in the glare of global economic phenomena which have left many countries in shock, Guyana’s government has ensured that the country is prudently managed, according to People’s Progressive Party (PPP) General Secretary Dr. Bharrat Jagdeo.

Every week, Dr. Bharrat Jagdeo is besieged by critics, who, according to him, are monotonous on one issue, and choose to blatantly ignore what the government is doing to ensure that Guyanese are not feeling the brunt of certain global issues.

However, Dr. Jagdeo, who also serves as the country’s Vice-President, has remained committed to dismantling the narrative being peddled by detractors of development.

On Thursday, during his weekly news conference at Freedom House, the PPP General Secretary pointed out that there is dedicated focus by the government on keeping Guyana’s exchange rate competitive, and there is assistance to the non-oil sectors to ensure that the economy is diversified.

“Clearly, this principle sometimes gets lost when I read editorials, newspaper articles and when I listen to the Opposition,” he said while noting that this vision is left drifting in the wind when these detractors make their pronouncements on how the government should approach spending revenue.

Secondly, he said that the government has been managing the economy sustainably for the medium and long-term.
It is within that light that he said that the government has been tackling environmental sustainability, hence the key focus on climate-proofing the economy.

Added to this, attention has been placed on traditional sectors that will reap long-term benefits such as the expansion of healthcare and education, training citizens and putting in place the economic structure that will attract non-oil investments, which will result in the economy becoming less reliant on oil.

With Guyana’s economy growing at “high” double digits, according to Dr Jagdeo, it is critical that the government finds ways to navigate the complexities that other countries face when it comes to surviving the short-term consequences of the mismatch between the supply and demand of goods and services.

The PPP General Secretary said: “You can’t defy the law of economics, that there is an upward pressure on price movement because the demand for goods and services far outstrip the supply of it.”

But what exactly is the government doing to address this complex period?

Take for instance, Guyana’s infrastructure “boom” which has increased the demand for sand and stone, which has resulted in the prices going up.

The government has resorted to opening more government-owned sandpits, issuing licenses to conduct aggregate supply, etc

These incentives have resulted in prices becoming stable.

“Our inflation rate is lower than the average inflation rate of most countries in the world and in this hemisphere,” the Vice President said while noting that this achievement is linked to the government’s policies.

He pointed to several other measures that were created in such a manner to ensure detailed growth and not pull a rabbit out- of- the- hat planning.

While opportunists are milking the issue of cost-of-living, Dr Jagdeo reminded citizens that this topic also includes water and electricity, which have been subsidized under this current government.

This year, he said that the government is putting in subsidy of US$66 -$70 million into the Guyana Power and Light Inc (GPL) to cover fuel costs, because if they do not take this step, the GPL would have to increase electricity costs.

He also noted that water rates have been dropped by 5 per cent since the PPP/C government assumed office.

The PPP General Secretary further stated that over $80 billion of taxes have been taken off.

This has benefitted the daily lives of citizens, Dr Jagdeo emphasised.