PPP/C heartened by economic progress report

The People’s Progressive Party/Civic (PPP/C) said it is heartened at the recent pronouncement by Finance Minister Dr Ashni Singh, that the country is well on course to record its ninth year of consecutive economic growth.

Dr. Singh announced that for the first half of the year the economy grew by 3.2%, with the non-sugar Gross Domestic Product (GDP) growing by 2%. “We are pleasantly heartened at what seems to be a recovery of the sugar industry, which saw a first-crop production of 312,283 tonnes, 18.3 percent over last year’s first crop.

This is a testimony to government’s confidence in the industry and its perseverance in ensuring recovery at a time when many naysayers are calling for the industry to be closed,” the PPP/C said in a statement on Tuesday.

“We also take note of the increased production in rice and growth in the construction, financial, export and other sectors. This is testimony to the prudence with which successive PPP/C governments have been managing the economy and good governance.”

According to the party, it is under the PPP/C government that there have been eight years of continued economic growth, accompanied by a sudden surge in foreign and local investments.

“These are all signs of confidence in our economy, confidence in our country and confidence in our government and people.

“We in the PPP/C believe, however, our economic performance could have been much better, had we had a constructive opposition, which is willing to put Guyana and its people first and support the many investments and transformational projects initiated by the PPP/C government,” the party said.

The party said it is opportune to recall when “we took over this country in 1992 Guyana was economically bankrupted and crippled with dilapidated infrastructure, a broken social sector, empty treasury, a US$2.1B external debt, absence of democracy and a de-motivated population.

“The rebirth of democracy in 1992 brought with it renewed hope to the nation and we promised then that we will ensure this country flourishes again. Today, while he have not reached our optimum as a country we have been fulfilling that promise and our brothers and sisters can live in this country with pride, and renewed sense of hope.

“But we must be wary of those deceitful, unethical, unprincipled, immoral, and unscrupulous ones who pose as guardians of the economy, but are out to slow our economic prosperity, destroy our economy, scare away investors and return this country to the dark days of the PNC,” the statement said.