Govt. needs to take its head out of the sand on economic reality -Jagdeo

Jagdeo said the government must take its head out of the sand and address the reality of a declining economy instead of holding out that there is no economic crisis.

Govt. needs to take its head out of the sand on economic reality  -Jagdeo
The Coalition Government’s management of Guyana’s economy has not impressed Opposition Leader Bharrat Jagdeo, who on Friday ignored the positives of the Mid Year Report and criticized the administration over what he said was the lack of a plan and policy to address the challenges facing the economy and the private sector.
Jagdeo said the government must take its head out of the sand and address the reality of a declining economy instead of holding out that there is no economic crisis.
“The government must clearly define its long term goal for this country, where it is going to be in five ten years time and the policy measures to get there,” Jagdeo said.
While delivering an address to business officials attending a luncheon organised by the Guyana Manufacturing and Services Association, Jagdeo claimed that there is a huge fear among members of the business community regarding matters that affect their well being .
He said the government has not been treating the concerns of the business community with any priority.
“I believe the country is in a crisis,” Jagdeo affirmed.
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He said too that the government needs to stop waiting on the proceeds of oil and stop making excuses.
Jagdeo said despite the 2% growth recorded in the mid year report and the projected 4% annual growth, there is a major decline in key sectors which could lead to an overall decline.
He said the growth in the gold sector is as a result of the input of companies that came to Guyana under the PPP.  Jagdeo was adamant that the new government has not been able to attract any form of investment.
He reflected on a speech delivered by Business Minister Dominic Gaskin at a similar mid year luncheon and said the Minister seemed focused on Guyana’s ranking on various international indexes, while rejecting that the the economy was performing badly.
Jagdeo said while the Minister and the government continue to ask citizens to trust them as they pursue the long term development plan short term interventions must become a feature of management.
“There is no long term plan, there is no short term plan. This government acts capriciously,” he added.
Jagdeo said he has been trying to find out what is the government’s long term plan for more than a year now and cannot find one that is definitively explained anywhere.
“There are no programmes or policies to define the government’s strategy… in its policy prescription there is attempt to correct the problems that affect the private sector. These challenges can be overcome by sound policies,” he added.  (Kurt Campbell)

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