Latest update April 17th, 2024 12:59 AM
Sep 26, 2018 News
Guyanese should not get their hopes up about statements by Finance Minister Winston Jordan to the effect that the nation’s Gross Domestic Product (GDP) is project to grow to 29.1 percent by 2020.
This is according to Opposition Leader, Bharrat Jagdeo, who at his most recent press conference held at his Church Street Office, sees Jordan’s utterances as “feel good statements” that will have no real effect on the lives of the masses in Guyana.
Jagdeo told the media, “Just imagine, GDP from the non-oil sector growing by 29 percent. You’ll create 50,000 new jobs. The GDP will grow by 29 percent in that year and will create just 300 new jobs. That’s what Exxon Mobil said… and maybe a few onshore, not exceeding a thousand. So it’s enclavic.”
The former President said that reference to the Gross National Product (GNP) would be a better way of assessing performances relative to capital intensive sectors.
“They should look at GNP figures. In this case where you have large capital inflows in the capital-intensive sectors, a better assessment would be to use the GNP rather than the GDP figures. So this might be true, this is a feel good, it won’t translate into more money into anyone’s pockets or more
jobs. It’s just feel good.”
When Minister Jordan spoke of the projected 29 percent GDP growth by 2020, he was in Jeddah, Saudi Arabia, accompanied by Public Infrastructure Minister David Patterson, to sign a loan agreement.
JAGDEO ADDING MORE DANGER TO GUYANA AND THE REGION
Apr 17, 2024
2024 CWI Regional 4-Day Championships Round 7…GHE vs. CCC Kaieteur Sports – After a highly-successful round 6, Guyana Harpy Eagles will look to take full advantage of the out-of-sorts...Kaieteur News – Every school teacher should take a close look at the students in his or her classroom. The probability... more
By Sir Ronald Sanders Waterfalls Magazine – On April 10, the Permanent Council of the Organization of American States... more
Freedom of speech is our core value at Kaieteur News. If the letter/e-mail you sent was not published, and you believe that its contents were not libellous, let us know, please contact us by phone or email.
Feel free to send us your comments and/or criticisms.
Contact: 624-6456; 225-8452; 225-8458; 225-8463; 225-8465; 225-8473 or 225-8491.
Or by Email: [email protected] / [email protected]