Sharp increase in government projects – Minister Jordan

DPI, Guyana, Wednesday, July 4, 2018

Minister of Finance, Winston Jordan says there has been a sharp increase in tenders for public sector projects which is translating into more economic activity countrywide.

“Well, its significantly improved although I’d love to see it better, but it is significantly improved relative to 2017 where we are and based on the tenders that I see coming in and the variety of people who are now tendering as opposed to that limited pool that you had. You are seeing some new businesses, new contractors tendering,” Minister Jordan told the Department of Public Information (DPI).

He added that there are multitudes of tenders for works aimed at improving the lives of the common man across all regions of the country. He said the execution of these have a positive effect on employment and income generation across the sectors.

“I am now leaving to go and look at a set of tenders. Over forty of them, that Cabinet will be looking at to note the awards. Essentially, every week this is taking place all over the country and as you could see, you go to some of these regions now and you see the works which have been done simple. It doesn’t get the press, but for the people in those areas it’s good for them. The roads that are being done, the water that is being put in place, the lights,” Minister Jordan added.

Increased government spending or public procurement creates a multiplier effect. In many instances, it creates jobs making more income available for spending in the economy. This, in turn, leads to a further increase in aggregate demand. Previously, departments of government were chastised for the lethargic spending of amounts budgeted for capital and other expenditure thereby stymieing growth in some sectors of the economy.

By: Kidackie Amsterdam.