Latest update March 27th, 2026 12:40 AM
Govt. not to be blamed for business slowdown
…but needs to come up with urgent strategic plan – PSC Chairman
By Abena Rockcliffe-Campbell
Chairman, Eddie Boyer
The economy is in a real bad state and businesses are suffering, not one business has reported a boost. All members of the Private Sector Commission are complaining. There needs to be an urgent intervention. Those are the views reflected by Chairman of the Private Sector Commission, Eddie Boyer.
During a recent interview with Kaieteur News, Boyer said that while blame for the suffering of businesses in Guyana should not be laid at the feet of the government, it must know that it is time to develop a strategic plan.
“We need government to jump start certain things… to look at certain things. We want the government to understand that there is a decline in the economy. I must commend the Minister of State (Joseph Harmon)… he admitted it, but it is now action time.”
Asked if he really thinks that there is something that the government can do at this time to arrest the economic downturn, Boyer’s response was “Absolutely”.
The businessman said, “First of all the government has to look in terms of what they giving businesses as incentives in a down economy. They have to start looking at those measures.”
He continued, “Government needs to engage the sectors, the manufacturers, the commercial businessmen etc., so that they can try to understand what they can do to arrest the decline. No one is blaming the government for specific declines, what we are saying is arrest the decline. Give this industry a help. All our exports that bring us foreign exchange, to add stability in the foreign exchange have declined. Where does that leave us? It means basically that you cannot fill the gap.”
Boyer said that there is going to be a domino effect, “when people see the dollar value dropping they will hold on to the US dollar. There will also be much frustration. Guyanese have become accustomed to a spending life and a certain type of living. So what are they going to do now?”
Boyer thinks that if Government arranges a sit-down with intelligent minds in business, a solution can be met.
“I am saying to the government that we need to all sit down and analyze things; look at the problems and come up with solutions. The quicker we do that, the quicker we can find a way out. We need to look at it before there is further decline.”
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