Latest update December 25th, 2024 1:10 AM
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We have inflationary growth
Dear Editor,
Having read the Editorial “A Numbers Budget: Tough Debate Ahead” (KN, 29th November 2018), I wondered if the writer of the Editorial considered why, if Guyana’s Public Debt and Foreign Debt are rising, its currency slowly depreciating, and its Current Account Deficit of 12.9% of GDP, this budget really is a budget to shout about or just a Numbers Game?
There is also a $44B shortfall in Government Revenue to contend with. That is, the Government is spending $44B more than it collects in Revenues. This can only be financed by loans or printing money.
I say this because with the relative political, social and economic stability, we do not have growth in Guyana. What we do have is inflation. There has been no major investment into Guyana with huge job creation. As well as, Remittance has dropped.
We have not got real organic economic growth in Guyana; we have inflationary growth.
Yours Faithfully
Sean Ori
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