There is no dispute that much poverty still exists in Guyana. Its existence and alleged absence of solutions to relieve it were among the highlights of the Budget Debate last week, uninspiring as many of the speeches were.
Continue reading “POVERTY AND POVERTY REDUCTION IN GUYANA“The budget outlining the Government’s plans, programmes and expenditures for 2023 reflects Guyana’s increasing income from its rapidly expanding petroleum industry. At $781.9 billion, as against $552.9 billion for 2022, this budget is 41 percent larger than 2022. The 2022 budget was in turn larger that the 2021 budget by 44.3 percent. This budget was facilitated by an economic growth of 62.3 percent in 2022. The 2022 budget was facilitated by a growth rate in 2021 of 19.9 percent.
Continue reading “GUYANA ON THE MOVE”In response to a complaint by Dr. Terrence Campbell that higher wages and salaries by government and foreign companies areattracting workers away from local businesses which cannot compete, Vice President Bharrat Jagdeo responded that “people want the vestiges of socialism still to hang on…” (Dem Waves Jan 9). It appears that the Vice President meant that the plea for the protection sought for local business is tantamount to relying on the ‘vestiges of socialism.’
Continue reading “VESTIGES OF SOCIALISM“On Friday last President Biden presented the Presidential Citizens Medal to 14 US citizens – policemen and civilians – who resisted attempts to undermine the elections of November, 2009, and resisted the mob that violently stormed the US Capitol on January 6, 2020, to overturn the election results. President Biden said that history will “remember your names, remember your courage, remember your bravery.” The Trump Administration, and President Trump himself, had engaged in devious strategies to manufacture votes to ensure a favourable election result. When that failed, efforts were made to select fraudulent delegates to the Electoral College to vote for Trump, notwithstanding the election results. Attempts were also made to pressure Vice President Pence not to declare a result or to declare one in favour of Trump. This is the first time within living memory that the US has faced the prospect of its presidential elections being rigged.
Continue reading “DEFENDERS OF DEMOCRACY HONOURED IN US, NOT IN GUYANA”Predictions of significant economic growth in Guyana due to the developing petroleum industry are being realized. Guyana’s Gross Domestic Product (GDP) in 2021 was US$8.04 B., representing a 20 percent growth rate. GDP reached the US$4 B mark in 2012 and increased to US$5 B in 2019. From US$8.04B in 2021 the GDP is projected to grow in 2022 by 56 percent which will take its projected GDP to US$12+ B. Its per capita income grew from US$9,000+ to US$10,000+.
Continue reading “GUYANA GRASPS AT THE PROSPECT FOR PROGRESS IN THE NEW YEAR“
