ELSON Low, an economist aligned with the People’s National Congress Reform (PNCR), has pushed back against recent warnings from the Caribbean Development Bank (CDB) that significant salary increases in the Caribbean could fuel inflation, and spiral the already high cost of living.
“We reiterate that as our country grows, our people must benefit, and so we will increase teacher and other public servant salaries by an initial 35% (graduated) in the first year in office, followed by negotiations for further increases,” he said at a press conference on Monday.
During the media briefing, Low described the CDB’s warning as “almost absurd”, and called for it to be “put aside”.

He said that while the CDB’s concerns may hold true in economies with slow economic growth, Guyana’s situation is evidently different. He said that Guyana is witnessing unprecedented growth, driven largely by the oil-and-gas sector.
Contesting the advice of the prestigious regional institution, Low said: “There are very few countries in the history of the world that have grown quickly; it is not reasonable to compare Guyana to Caribbean peers in that way. I think that is another comparison that has to be put aside, because it is almost absurd.

“There is no comparison whatsoever between the growth rate of Guyana and the growth rate of the other Caribbean countries. In fact, Guyana’s budget has also increased at a rapid rate, which is pretty much unforeseen; pretty much something you haven’t seen in the Caribbean.”
The People’s Progressive Party/Civic (PPP/C) government has repeatedly criticised the PNCR-led A Partnership for National Unity + Alliance for Change (APNU+AFC) coalition government for its tenure from 2015 to 2020, accusing it of failed economic policies and widespread corruption.
President Dr. Irfaan Ali emphasised, among other things, in a live address on Sunday that the APNU+AFC failed to deliver on its Manifesto promises from the 2015 elections, and relished power while secretly giving its ministers and other officials a 50 per cent pay raise.

The coalition’s tenure was marked by the imposition of over 200 new and increased taxes, fees, and fines, as well as Valued Added Tax (VAT) on essential services like electricity, water, and educational and medical supplies.
The PPP/C took power when Guyana had no petroleum money, but continued to give thousands of schoolchildren cash grants under the ‘Because We Care’ programme.
The previous APNU+AFC government, which had insisted it had no budgetary room for this cash grant, but managed to find money for other purposes, had discontinued the initiative.

Among the government’s transformative plans are the construction of hospitals, schools, the removal of taxes and fees, and the creation of over 60,000 jobs.
The government has increased public assistance, reinstated the Joint Services’ one-month bonus, gave pay hikes to public employees, increased old-age pension, provided vouchers for eye care, HPV testing and spectacles, and the rehiring of sugar workers sacked by the APNU+AFC.

The government has also adopted a holistic approach to enhancing the quality of life for Guyanese citizens, focusing on a range of key areas. Through these measures, the government aims to create a more equitable and prosperous society for all citizens.