No major developments since coalition took office
continues to bungle its priorities, according to Opposition Leader, Dr Bharrat Jagdeo, who charged that while issues of jobs, the economy and the welfare of Guyanese people need to be addressed, yet another Commission of Inquiry (CoI) has been established. President David Granger has ordered a Commission of Inquiry into the alleged plot to assassinate him. Jagdeo contends that Granger’s move speaks to the level of confidence he has in the security services.
According to him, the President has much to answer for, but noted that Granger has only meet with the full local media corps once since taking office, more than two years ago.
Notably, last year, Granger stated that, “Our big prior- ity is to stimulate the economy, increase revenue collection, reduce leakages through tax evasion, non-compliance with the law.”
One year later, while increased taxes have resulted in increased revenues, the stimulation of the local economy has not been seen, with no major job creation initiatives and no major investments since Granger’s government took office.
Meanwhile, Jagdeo, during the 2015 Budget debates underscored the fact that an increase in private investment, private consumption, government spending and net exports equals improved Gross Domestic Product (GDP).
Gross Domestic Product (GDP) growth in 2014 was 4.8 per cent, followed by a dismal report of a 0.7 per cent growth in GDP as at June 2015, which is lower than the 3.2 in June 2014. By the end of 2015, GDP had dropped from 2014 levels. It was a dismal three per cent.
As at 2014, Guyana had seen at least eight years, from 2006, of consecutive economic growth.