THE PPP/C administration must be credited for staying the course especially in terms of keeping the rate of inflation in check while at the same time increasing the disposable income of Guyanese. What this meant in effect is a bigger basket of goods and services for consumers.
What is significant about this development is that it is taking place at a time when there is an inflationary spiral at the global level due to rising prices for fuel and other imported commodities.

The continuing war in Ukraine and the Middle East have caused serious disruptions in the global supply chain resulting in higher prices for good on the world market. To this must be added the adverse impact of climate change and residual impact of the COVID-19 pandemic.
This is why the ability of the current administration to keep inflation in Guyana in check is nothing short of remarkable. According to Finance Minister Dr. Ashni Singh, the current rate of inflation which stands at four per cent is project to reduce further to 3.2 per cent in the second half of 2024. This is well below the global average of over six per cent.

This, as pointed out by Minister Singh is the result of a number of policy interventions to increase the disposable income of citizens while ensuring the continued enhancement of their living standards.
The supply of money in the economy has increased significantly due to increased revenues from oil and from greater export earnings. In fact export earnings this year have reach a record high. In addition, there is an expansion of capital investment through direct foreign investment and infrastructural developments. One consequence of these developments has been a surge in employment opportunities and an overall increase in spending power.

As pointed out recently by a former diplomat, Guyana is now a land of opportunities. Never before in the country’s history, has there been so much taking place in every aspect of national life.
Indeed, there is a growing mood of expectation that the country is now at the cusp of realising its full potential. The grown rate for the first half of this year, as pointed out by the Finance Minister is a staggering 49.7 per cent. The non-oil sector has also seen an impressive growth rate of 12.6 per cent.
The PPP/C government has changed the growth trajectory of the country which is now ranked as one of the fastest in the world in terms of per capita growth. This has found expression in greater employment opportunities to a point where the PPP/C manifesto promise of the creation of 50,000 new jobs by the end of this current five- year period is within reach. The fact is that there is already a shortage of labourers, especially in the construction sector.

It will be recalled that thousands of workers lost their jobs under the previous APNU+AFC regime. The new PPP/C administration has not only reversed that situation but have also created new job opportunities for thousands of Guyanese nationwide, including in the hinterland areas.
The PPP/C government, as noted by Vice-President Dr. Bharrat Jagdeo, is on the verge of achieving the ‘Guyanese Dream’ for national prosperity. This is done through steady and consistent economic, social and infrastructural developments.