President demonstrates he has no plan to save Guyana from slow economic growth

Opposition Leader Bharrat Jagdeo thinks that President David Granger is out of his depth when it comes to certain matters of national importance. Jagdeo had no qualms about saying that and more at his most recent press conference held at his Church Street Office. Specifically, Jagdeo said that President Granger’s response to a question posed to him about economic growth—at his “much anticipated” press conference held two Fridays ago—proved that he is “out at sea” Jagdeo recalled: “The President was asked, ‘are you satisfied with the pace at which the economy is growing.’ This is what the president said: ‘I would like the economy to grow at a faster pace, the growth of the economy has been impeded by a lack of energy and the under development of the manufacturing sector.’” In examining the President’s response, Jagdeo sought to lay the blame of the nation’s electricity woes squarely at the feet of the APNU+AFC administration which is in its fourth year of governance. Jagdeo told the media: “The President is saying that the lack of energy is affecting the economy. Yet, he has not made a single major investment in power since he took office, although they killed Amaila.”

Jagdeo stressed that the APNU+AFC government got rid of the controversial Amaila project without having a feasible replacement. He said that all the talk the government is having about avenues for energy is futuristic.

Jagdeo then turned his attention to the other problem that President Granger said is hampering economic growth. He said that the manufacturing sector is being killed by government with all the new tax measures. “You (the President) are killing the manufacturing sec tor with all these new taxes. Now there is even a tax on exports, because you cannot reclaim import VAT (Value Added Tax) on your exports. That is the big issue now between GRA (Guyana Revenue Authority) and the manufacturers. You’re killing exports. I can go through a long list of things that are really affecting manufacturing and the growth of the economy,” said Jagdeo.

The Opposition Leader continued: “The President goes on to say, ‘fortunately we have seen an increase in investment’ “What investment?” He said there has been “no major investment in Guyana since you took office, Mr. President, and the only game in town is ExxonMobil, and that is what you are embracing so warmly. But even that came under the PPP; again, the President is out at sea in his explanation.”

(Kaieteur News)