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“5 percent growth does not tell us anything”- Basil Williams

Dec 21, 2013 News

 

While the government recently boasted of the economy having an almost five percent growth, despite harsh global conditions, Leader of A Partnership for National Unity (APNU), Mr. David Granger, says that this can most certainly be a reflection of “jobless growth.”
At a recent press conference, the politician contended that while it is possible for this situation to be true and some may argue that the Gross Domestic Product (GDP) is a good means to measure the macro-economic health of the economy, the reality is that “we live micro lives and there are a lot of poor people at the bottom who are not benefitting from the revenues from timber, gold and rice.
“It is those people that the APNU are concerned about. They are the ones who suffer from a degraded health and education system, despite high flyers who can afford private schools while the bulk of the people attend poor schools. In APNU we have always fought for equitable living standards for our people and that is what we want.”
Shadow Minister of Labour, Basil Williams said, “The Minister of Finance (Dr. Ashni Singh) is always looking at macroeconomics but when you look at the income distribution, you would see right away that it is skewed, especially when one considers who are the ones receiving US$2,000 as their salary.”
Williams also contended that while there can be an almost five percent growth, it could only be the “cabals enjoying that while the people who are actually doing the hard work get nothing.”
He noted too that the five percent growth, “Does not tell us anything. We need to look and see how the people live, how they exist and under what conditions.”

 

 

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