Confidence in economy restored -Min. Jordan

−Not a single year of negative growth under coalition

DPI, Guyana, Thursday, December 5, 2019

The Coalition Government is boasting of an ever-growing economy, since taking office in 2015. Finance Minister, Hon Winston Jordan said despite the challenges, the administration was able to upkeep the economy.

The reality of this was seen in the most recent projection by the International Monetary Fund (IMF) of an expected 86 percent economic growth in 2020.

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Minister of Finance, Hon. Winston Jordan.

While the predicted economic transformation will result from the imminent oil production, Minister Jordan said the work under this administration has restored confidence in Guyana’s economy.

“People are happy, you go down to the stores right now, the back pay has not been paid as yet, you go to Georgetown is already chaos with people spending. You’re coming in with flights that are full. So, this is not an economy where things are not happening, things are indeed happening,” he told the Department of Public Information on Wednesday.

The Finance Minister reiterated that the past four years were not without their difficulties. He said the government understands that many Guyanese had expected more, however, that might have been influenced by the belief that the previous administration left the economy in good shape. According to Minister Jordan, Guyanese finally came to understand that this was not the reality.

Guyanese, according to him were duly informed about the economic hardships inherited by the former government. These include a broken Guyana Sugar Corporation (GuySuCo) an abrogated rice contract with Venezuela, which left rice farmers without payment. It was the Coalition Government, he said, that saved the day, making payments to the farmers.

The administration also came into office and met several huge legal judgements that had to be settled by the administration.

“Four years and the challenges the government faced, we had done well by the economy and the people themselves,” Minister Jordan remarked.

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