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Cash-strapped Guyana govt embarks on cost-cutting measures; hopes public sector investment prog will kick-start economy

 

Minister of State, Joseph Harmon debating the 2017 National Budget.

The Guyana government is strapped for cash and would be introducing a number of austerity measures including recycling envelopes, while at the same time hoping that the Public Sector Investment Programme (PSIP) and housing projects will kick-start the economy.

“It means that you have to be a little more careful in how you spend your money so that it lasts. It means that you have to reuse envelopes. There are several measures which we will circulate to government ministries on how they can cut back on expenses,” Minister of State, Joseph Harmon told a news conference. He said the austerity measures would include conserving on electricity by turning off lights and air conditioning units.

“There are practical measures which will be used by the government to ensure the austerity that I am talking about and that the monies which you have will last you longer and that you don’t have to go back later in the year (to the National Assembly) for supplementary (funds) so it is really about being very sensible and using the resources which you have to the best of your ability,” he said.

Referring to calls for the 14 percent Value Added Tax to be lowered, Harmon said the economy was doing badly because “unexpected expenditures” such as financial support for the ailing Guyana Sugar Corporation and legal settlements.  Finance Minister, Winston Jordan has forecast lower foreign exchange earnings from rice and sugar as well as a slump in construction.

Asked how government intends to revive the economy, the Minister of State said government would be spending huge sums from the GYD$250 billion budget for 2017 on major projects including housing and better implementation of government’s public sector infrastructure programme. “This year, as you can see the contracts I started to reel off, that we have better organised…We are going to use that (budget) to ensure the economy is basically better positioned.

At the same time, we are going to encourage private sector involvement in the economy. We are going to engage the private sector in a more meaningful and aggressive way so that this partnership between government and the private sector can be used- that energy, that synergy- which the two parties bring together can be used to basically boost and move this country forward,” he said.

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Bibi Haniffa posted:

Cash-strapped Guyana govt embarks on cost-cutting measures; hopes public sector investment prog will kick-start economy

 

Minister of State, Joseph Harmon debating the 2017 National Budget.

The Guyana government is strapped for cash and would be introducing a number of austerity measures including recycling envelopes, while at the same time hoping that the Public Sector Investment Programme (PSIP) and housing projects will kick-start the economy.

“It means that you have to be a little more careful in how you spend your money so that it lasts. It means that you have to reuse envelopes. There are several measures which we will circulate to government ministries on how they can cut back on expenses,” Minister of State, Joseph Harmon told a news conference. He said the austerity measures would include conserving on electricity by turning off lights and air conditioning units.

“There are practical measures which will be used by the government to ensure the austerity that I am talking about and that the monies which you have will last you longer and that you don’t have to go back later in the year (to the National Assembly) for supplementary (funds) so it is really about being very sensible and using the resources which you have to the best of your ability,” he said.

Referring to calls for the 14 percent Value Added Tax to be lowered, Harmon said the economy was doing badly because “unexpected expenditures” such as financial support for the ailing Guyana Sugar Corporation and legal settlements.  Finance Minister, Winston Jordan has forecast lower foreign exchange earnings from rice and sugar as well as a slump in construction.

Asked how government intends to revive the economy, the Minister of State said government would be spending huge sums from the GYD$250 billion budget for 2017 on major projects including housing and better implementation of government’s public sector infrastructure programme. “This year, as you can see the contracts I started to reel off, that we have better organised…We are going to use that (budget) to ensure the economy is basically better positioned.

At the same time, we are going to encourage private sector involvement in the economy. We are going to engage the private sector in a more meaningful and aggressive way so that this partnership between government and the private sector can be used- that energy, that synergy- which the two parties bring together can be used to basically boost and move this country forward,” he said.

Wonder how many envelopes need to be reused to pay for Naga's new ride. These people are clowns.

GTAngler

The AFC/PNC inherited a full treasury. They emptied it with their Fat Cat salaries and they they wine down and sport put all of the money.

Things are bad now so they are saving a few envelopes to fill a very big hole. These clowns did it in the past and they are repeating the same mistakes ten times the magnitude.

They (AFC/PNC) have no economic plans or strategies and are just a bunch of clueless idiots.

FM
Nehru posted:

HAHAHAHSA  Next yuh gat to wash yuh batty wid Wata or wipe with Grass

Government workers should only be approved to use black sage leaves or use sticks to scrape the crud.

FM

BACK TO THE PNC OF OLD. DEM DAKOLAYY ALL WHAT THE PPP LEFT AND MO. RECYCLE ENVELOPES, USE LESS CURRENT, BACK TO FLOUR BAG NAPPIES, AND RICE BAG BEDS , WHITE MOUT, BERI BERI,MALNUTRITION, DEFENCE BONDS COMING, YOU WANT $14 OR ESSEQUIBO, EXPORT RESTRICTION, DECLARE A WAR ON WASTE, AND BLAH BLAH BLAH REMEMBER WHO DOES BRUK JUST AFTA PAY DAY.

R
Demerara_Guy posted:

PNC/AFC government should first and foremost reduce the salary and perks benefits to its members to that at the 2015 election time which must remain until after 2020.

Gilly seconds that. First thought that came to my mind while reading the report.

FM
Bibi Haniffa posted:

They plan to recycle envelopes to boost the economy. 

In 1974 during the oil crisis, we were asked to recycle envelopes and turn off unnecessary lights and fans in the government ministries. But even before that, I had witnessed recycling of envelopes at Freedom House. In fact up to now I have a note from Cheddi Jagan written on the back of an envelope. Jagan was a frugal man and he did not like to waste stuff. Burnham took austerity measures after spending extravagantly to host Carifesta and the Non-Alignment Movement Foreign Ministers Conference in 1972 and other circuses.

FM

Things are going SOUTH, already there is a shortage of foreign currency, soon only the essentials will be imported. Don't be surprise the banning of flour, dhal, sardines and other luxury items.

K
Gilbakka posted:
Bibi Haniffa posted:

They plan to recycle envelopes to boost the economy. 

In 1974 during the oil crisis, we were asked to recycle envelopes and turn off unnecessary lights and fans in the government ministries. But even before that, I had witnessed recycling of envelopes at Freedom House. In fact up to now I have a note from Cheddi Jagan written on the back of an envelope. Jagan was a frugal man and he did not like to waste stuff. Burnham took austerity measures after spending extravagantly to host Carifesta and the Non-Alignment Movement Foreign Ministers Conference in 1972 and other circuses.

History is repeating itself.  And many of you have blood on your hands. 

Bibi Haniffa
Last edited by Bibi Haniffa
Django posted:

I read in an article Guyana imports wooden materials to build houses,now that's what you call economic development.

Materials? A few years ago they were building concrete bases and importing Prefabricated houses.

GTAngler

Expect a major devaluation of GY currency before this year is over.  It's already $227 to one US dollar.  The only reason it didn't have a major slide as yet is because dem Thiefing PPP boys decide to left some money for the PNC to keep the economy afloat and give themselves salary increases.  All guh done soon!!

Bibi Haniffa
GTAngler posted:
Django posted:

I read in an article Guyana imports wooden materials to build houses,now that's what you call economic development.

Materials? A few years ago they were building concrete bases and importing Prefabricated houses.

Damn,we got the best wooden materials in the home land.

Django

All progress my friend. Most of the timber harvested in Guyana was sent to China by Bai Shan Lin. Destroyed huge swaths of forest without replanting. And in turn, we bought the Prefab houses our timber built. Did Granger kick him out yet?

GTAngler
Bibi Haniffa posted:
Gilbakka posted:
Bibi Haniffa posted:

They plan to recycle envelopes to boost the economy. 

In 1974 during the oil crisis, we were asked to recycle envelopes and turn off unnecessary lights and fans in the government ministries. But even before that, I had witnessed recycling of envelopes at Freedom House. In fact up to now I have a note from Cheddi Jagan written on the back of an envelope. Jagan was a frugal man and he did not like to waste stuff. Burnham took austerity measures after spending extravagantly to host Carifesta and the Non-Alignment Movement Foreign Ministers Conference in 1972 and other circuses.

History is repeating itself.  And many of you have blood on your hands. 

Madam, I did not VOTE APNU+AFC. Did you VOTE PPP? Dem boys seh we all just shooting breeze hey.

FM
GTAngler posted:

All progress my friend. Most of the timber harvested in Guyana was sent to China by Bai Shan Lin. Destroyed huge swaths of forest without replanting. And in turn, we bought the Prefab houses our timber built. Did Granger kick him out yet?

They closed shop.

here is a previous post.

https://guyana.crowdstack.io/topic/ab...5#491213757205155805

Django
Bibi Haniffa posted:

Expect a major devaluation of GY currency before this year is over.  It's already $227 to one US dollar.  The only reason it didn't have a major slide as yet is because dem Thiefing PPP boys decide to left some money for the PNC to keep the economy afloat and give themselves salary increases.  All guh done soon!!

I too expect a devaluation of tge Guyana dollar. The government has lied about not facing a foreign exchange problem or that there is a major slump in the economy. The exchange rate for the US dollar is nowhere near $227.

this government does not know how to manage the economy. Imagine the folly of the government in a slowdown raising so many taxes. This is the reality with the coalition. They have alienated the private sector and are slow to get public investment into the economy. It is march and they are still advertising tenders, even though the budget was passed last year.

Z
GTAngler posted:

All progress my friend. Most of the timber harvested in Guyana was sent to China by Bai Shan Lin. Destroyed huge swaths of forest without replanting. And in turn, we bought the Prefab houses our timber built. Did Granger kick him out yet?

I am not aware of Guyana importing pre-fabricated houses. When was this. Just for info purposes.

 

Z
Drugb posted:

Soon these jackasses will pass a decree mandating the reuse of toilet paper,  3 times usage. 

Can't reuse what you don't have. Back in the PNC days, I had a co-worker who doesn't begin working until he was finish reading the newspapers. I used to think that he wanted to make sure he was finished with reading the newspapers just in case he had to use it. The good old PNC days are coming back.

FM
Zed posted:
GTAngler posted:

All progress my friend. Most of the timber harvested in Guyana was sent to China by Bai Shan Lin. Destroyed huge swaths of forest without replanting. And in turn, we bought the Prefab houses our timber built. Did Granger kick him out yet?

I am not aware of Guyana importing pre-fabricated houses. When was this. Just for info purposes.

 

This was a couple of years ago. I think there was a picture in one of the newspapers. Anyway, I found an article (not the one I saw originally) and a couple of sites you can take a look at:

http://www.kaieteurnewsonline....nveils-prefab-homes/

http://www.bulkantimbers.com/p...s_prefab_housing.php

http://www.duravilla.com/

 

GTAngler

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