Significant progress made in key social indicators – Minister Ashni Singh

Guyana has made significant progress in improving key social and economic indicators over the past 10 years, Finance Minister Dr Ashni Singh said at the national public consultation on the country’s Draft Poverty Reduction Strategy for 2011- 2015, held at the Guyana International Conference Centre on Saturday, July 23.

Minister Singh attributed the progress achieved to a policy framework that is designed to promote economic growth, protect macroeconomic stability, and reduce poverty.

In his address, Minister Singh highlighted significant achievements in the social and infrastructure sectors, as well as the achievement of several important social targets. He pointed to the gains that the government has made towards the achievement of poverty reduction, especially in the areas of nutrition and food security; reducing child mortality; improving primary education; combating HIV/AIDS, malaria and TB; and ensuring environmental sustainability, where the relevant Millennium Development Goals’ (MDG) targets are either already met or well on their way to being met.

The minister attributed these successes to the government’s policy of creating an environment that is conducive to promoting economic growth. He emphasised that stability continues to be an indispensable prerequisite for Guyana to continue to make the kind of progress recorded over the past five years.

The minister also highlighted the uninterrupted positive real growth the domestic economy has achieved during the last five years, even though the global economy has gone through its most severe trauma in living memory.

These achievements include the accumulation of gross international reserves from US$280 million in 2006 to nearly US$800 million in 2010; the stability in the exchange rate; an 82 per cent increase in private sector credit over the same period; and a steady downward trend in the fiscal deficit.

Minister Singh also stated that the PRSP is not a stand-alone document, but represents a consolidation of sector strategies that currently exist, which themselves have benefited from broad-based consultations.

The minister outlined government’s agenda going forward, stating that the premier development strategy of the country will be that of accelerated economic growth and social development along a low carbon path, as adumbrated in the LCDS. To this end, he highlighted the government’s thrust to ensure reduced cost of energy to its citizens, and also the wider use of information and communication technology for business development. The consultation was attended by several members of the Cabinet, led by Prime Minister Samuel Hinds and Head of the Presidential Secretariat, Dr Roger Luncheon.

Prime Minister Hinds highlighted the general improvements that have occurred within Guyana over recent years, and attributed these to the positive growth that Guyana’s economy has been achieving over the five years, despite the financial crisis. He highlighted several interventions which directly addressed poverty, such as the Unserved Areas Electrification Programme and the Hinterland Electrification Programme, which provided resources to persons who would have otherwise been unable to afford access to electricity.

He noted the need for citizens to participate more actively in positively changing their environment, and not simply look towards the government to solve every problem. He emphasised that, going forward during this 2011-2015 period, much more could be achieved once there is a level of tolerance and a willingness to work together in unity to achieve a common destiny.

In the working session which followed, all stakeholders were given the opportunity to share their views on the draft PRSP 2011-2015, and to identify areas which they felt needed to be incorporated in the document as part of Guyana’s development programme for the next five years.

At the concluding session, Minister Singh thanked the participants for their endorsement of the policy framework underlying the strategy, and for their several practical suggestions for inclusion in the document.

Attending the consultations were representatives of government agencies, and non-governmental representatives, including those from the private sector and labour.