–during upcoming address to National Assembly

DRIVEN by a vested interest in ensuring that Guyanese enjoy a better standard of life, the government, through the Head of State Dr. Irfaan Ali, will soon unveil more measures geared at addressing the rising cost of living, which is being induced primarily by global economic factors.
Peoples Progressive Party (PPP) General Secretary Bharrat Jagdeo revealed this on Thursday during his weekly news conference at the party’s Georgetown headquarters on Robb Street.
Jagdeo, while responding to the questions from the local media, noted that the government has many ideas in the works to cushion the rising cost of living.

“I know we have a ton of ideas, and the President will speak at the opening of the Parliament,” he said.
The National Assembly is currently in a recess, which runs from August 10 to October 10.

“The President will speak at the opening of the new session of the parliament, so look out for more policy measures from the President,” Jagdeo said.
The effects of global economic conditions have significantly impacted different regions, yet the people of Guyana have been shielded from the worst consequences, due to the deliberate policies and programmes implemented by the PPP/C Government.

Just last month, President Ali said that despite being challenged by the shocks brought on by the COVID-19 pandemic, the pressures from rising transportation costs, and rising costs in the movement of goods and services, the Government of Guyana has remained resilient in its response.
The shocks, he reminded, are not limited to Guyana. Citing a recent article by a global financial expert, Dr. Ali noted that global inflation spiked in 179 countries, with countries such as the United States and the United Kingdom recording inflation rates that reached a 40-year high in 2022.
Unlike those countries, Guyana, the President noted, had been “importing” those rising costs.

The Head of State said: “We are importing that inflation. What we have done as the government, very successfully, is [establish] measures that we put in place to cushion that inflationary costs and rising costs, so that the effect was not transported to the consumer.”