Min. Gaskin dismisses Jagdeo’s statement about economy collapse

DPI, GUYANA, Tuesday, September 19, 2017

Minister of Business, Dominic Gaskin is dismissing statements made by Opposition Leader Bharrat Jagdeo, that Guyana’s economy will collapse.

Minister of Business, Dominic Gaskin.

Minister Gaskin said, “Don’t listen to Mr. Jadgeo his message of economic doom and collapse is an attempt to destabilise the economy for political gain, I am saying that publicly and it is an important message. He tried earlier in the year to create panic over exchange rates, he predicted 300 to 1 by the end of the year, hoping to get people to panic and create a crisis”.

The Business Minister was at the time delivering remarks at the opening of a locally owned business.  He shared his bemusement that, on the one hand persons are reaching out to the local business community, whilst others are declaring,  “Guyana is a bad place to do business and our economy is about to collapse, it is really hard for me to reconcile that kind of behavior with any sort of concern with the wellbeing of our economy”.

Minister Gaskin pointed out that the Government is aware of the state of the economy and advised the local business sector that “this is the time to invest” if they wanted to see their business develop.

According to the Minister, the administration is maintaining, “There was no crisis and that we should not panic and start to do things that will harm our own economy. Today we see that there is relative stability in our currency, so let’s not be distracted by Mr. Jagdeo and his followers who are peddling in what I call – Fake Bad News about Our Economy”.

Minister Gaskin noted that Guyana’s economy has been receiving rave reviews from the overseas market and will soon see more investments coming into the country.  “As the Minister of Business I would like to give a general advisory to our local business community, the economic outlook for Guyana shows growth and stability in the short term, in the medium to long-term, we expect to see some transformational changes.”

Guyana’s economy is expected to grow in 2017 by at least three percent.


By: Gabreila Patram