Written by SEETA RAMGOBIN.
Monday, 05 September 2011 01:40
WHEN President Bharrat Jagdeo pointed to the positive fiscal results of the local economy, during the first half of 2011, it revealed that what those who oppose and the negative critics were and are still saying are mere far-fetched figments of their imagination. So instantly, one can deduce that Guyana’s economy is being built by hard and astute work from the leaders. Also, the hope is that this kind of news will not be made light of. The populace must be informed. During the past six or seven years, Guyana has been on a significantly elevated growth curve, and this news is pleasant, but not surprising. But why this is so? This is so because over the last five years, the climb has been slow but sure and steady. So this 5.9 percent growth is symptomatic of faith in wise investments and long-term strategies. The local exports actually jumped by 30 percent. So this is something to really shout about. After all, in many parts of the world, economies are struggling, and inflation is difficult to combat. I do think some details are in order here:
The non-sugar sector is projected to grow at 3.4 percent, revised upward from the original projection of 4.6 percent and 2.8 percent at the time of the budget of 2011. Export earnings expanded by 34.6 percent to US$533.1 million. In fact, Export earnings from sugar increased by 32.4 percent to US$50.1 million, reflecting a 30.4 percent increase in quantity shipped to 99,738 tonnes.
Rice continued its trend of successful first crops, with the 2011 first crop being 207,514 tonnes, 23 percent higher than at the corresponding period in 2010, and the highest first crop in the industry’s history. So rice export earnings expanded by 35.1 percent to US$92.6 million, mainly attributed to a 26.4 percent increase in average export price to US$551.4 per tonne, coupled with a 6.8 percent increase in export volume to 167,945 tonnes. So the leap is most salutary and very welcomed. But a word of commendation must go to the ‘behind the scene’ people.
Guyana’s improved performance is due mainly to investments and innovations in drainage and irrigation, the development of new and more tolerant rice strains, higher yields and higher acreage of paddy planted. These facts must not be taken for granted. To reach this far and reap these kinds of results, one must remember the hard work of the leaders. This is where people can now be hopeful that Guyana’s future is beginning to look very secure. In other words, people do not have to panic and leave in droves. Right here in Guyana, a solid living can be made.
Excerpts from the Guyana Chronicle
Monday, 05 September 2011 01:40
WHEN President Bharrat Jagdeo pointed to the positive fiscal results of the local economy, during the first half of 2011, it revealed that what those who oppose and the negative critics were and are still saying are mere far-fetched figments of their imagination. So instantly, one can deduce that Guyana’s economy is being built by hard and astute work from the leaders. Also, the hope is that this kind of news will not be made light of. The populace must be informed. During the past six or seven years, Guyana has been on a significantly elevated growth curve, and this news is pleasant, but not surprising. But why this is so? This is so because over the last five years, the climb has been slow but sure and steady. So this 5.9 percent growth is symptomatic of faith in wise investments and long-term strategies. The local exports actually jumped by 30 percent. So this is something to really shout about. After all, in many parts of the world, economies are struggling, and inflation is difficult to combat. I do think some details are in order here:
The non-sugar sector is projected to grow at 3.4 percent, revised upward from the original projection of 4.6 percent and 2.8 percent at the time of the budget of 2011. Export earnings expanded by 34.6 percent to US$533.1 million. In fact, Export earnings from sugar increased by 32.4 percent to US$50.1 million, reflecting a 30.4 percent increase in quantity shipped to 99,738 tonnes.
Rice continued its trend of successful first crops, with the 2011 first crop being 207,514 tonnes, 23 percent higher than at the corresponding period in 2010, and the highest first crop in the industry’s history. So rice export earnings expanded by 35.1 percent to US$92.6 million, mainly attributed to a 26.4 percent increase in average export price to US$551.4 per tonne, coupled with a 6.8 percent increase in export volume to 167,945 tonnes. So the leap is most salutary and very welcomed. But a word of commendation must go to the ‘behind the scene’ people.
Guyana’s improved performance is due mainly to investments and innovations in drainage and irrigation, the development of new and more tolerant rice strains, higher yields and higher acreage of paddy planted. These facts must not be taken for granted. To reach this far and reap these kinds of results, one must remember the hard work of the leaders. This is where people can now be hopeful that Guyana’s future is beginning to look very secure. In other words, people do not have to panic and leave in droves. Right here in Guyana, a solid living can be made.
Excerpts from the Guyana Chronicle
Finance Minister Ashni Singh reported that Guyana’s GDP grew by 5.9% in the first half of 2011. The Minister went to great lengths to emphasize the non-sugar sector aspects of economic growth. We can understand this given the fiasco associated with the new Skeldon factory that has consistently failed to meet its production and employment targets. The Minister gave us the growth rate of several sectors of the economy. Notably absent is the weight of each sector of the economy.