It is quite illogical to envision that the 50th Independence anniversary celebrations will drive an economic boom, according to Opposition Leader Dr Bharrat Jagdeo, who remains adamant that the coalition government must implement more serious measures to foster economic growth.
Government officials on several occasions have contended that these celebrations will generate widespread spending and money will be circulating in abundance owing to the thousands of overseas-based Guyanese who will be returning home to join in the festivities.
But the Opposition Leader explained that spending will only increase for that brief celebratory period, and therefore questioned what will happen when the celebrations are over.
“What happens after? Okay, so the hotels get a little more (money) during that period, there will be some increased spending in the economy in that period, but after that what happens? Why did they shut down our Mashramani if that stimulates the economy,” Dr Jagdeo posited.
“It’s pure nonsense that you can drive an economic boom by celebrating Independence. If that’s the case, every country would be celebrating every day!” he declared.
The former President said the government appears to be doing the exact opposite of implementing measures to stimulate economic growth.
“You can’t say, ‘Oh, we gonna celebrate Independence and have an economic boom’. How does that translate into an economic boom except for that period when there will be a little more money circulating in the economy? If you are taking away money from people through higher taxes; you are taking more money away by renewing (raising) licences for trade and economic activities, you have to show that you paid taxes in the last seven years; you have to pay more for tyres… how will you increase disposable income and encourage spending?” Dr Jagdeo questioned.
He explained that though Finance Minister Winston Jordan highlighted three external factors that may threaten the country’s economic growth, he (Jordan) did not indicate what measures he will put in place to prevent the country from being affected.
Jagdeo did not get into much details but posited that there are many steps government can take to ensure the economy grows despite global downfalls. He, however, lamented the fact that the current administration seems to be doing absolutely nothing but engaging in unnecessary spending.
Mainly the productive sector needs help in order to compete on the global market, Jagdeo pointed out. (Devina Samaroo)
very well said! this de facto government has no idea to run this country Jordon is a dunce
My thoughts exactly. The coalition seems to be grabbing at straws when it comes to making decisions in the best interest of the country. They continue to make very silly statements and it doesn’t appear as though they are in control of this country. Ok so we are spending grand sums of money on lavish events but if there is no income being generated how do they intend to stimulate this economy? What can I expect in the next 6 months that will give me the confidence in the economy to invest and spend my hard earned money? It seems as if there really is no plan in place and they are just going with the flow and waiting for the next big thing happen. I think Guyanese deserve better than this, we are paying you US$4000-$6000 monthly for you to be playing a guessing game about our economy? Get real!!!
Jagdeo,you have no authority to advise this Coalition on no matter whatsoever.You had opportunities for more than 20 years,but due to alleged malpractices and corruption,you MESSED UP BIG TIME,to the advantages of yourself,relatives and friends.Winston Jordan as Finance Minister,is competent enough to move the country forward,in conjunction with other competent and honest Ministers.THIS CHANGE WAS NECESSARY.Only some FOOLS believe this Coalition has a magic wand to change everything overnight,with all the MESS that has still to be cleaned up.They may sooner than later come to their senses or consciousness.
Not words enough in the universe to describe this specimen of human. I’m TRULY disappointed that the people of Guyana cannot remember the OPPRESSION this specimen and “it’s” breed has subjected them to, for decades; and here “it” is behaving as though “it’s” still in charge!
BOO HOO! Jagdeo nobody care what you think?
The PPP’s lack of drug enforcement helped to stimulate economic growth.
i have said this before and i would repeat it gain Clive Thomas is the evil behind it all the quicker the President sends him back to the university the better for him because both him and the Finance Minister are nothing but paper tiger they lack brains