Finance Minister Dr. Ashni Singh is reporting a 2.8% growth in Guyana’s economy so far for 2012
Finance Minister Dr. Ashni Singh is reporting 2.8 % growth in the economy so far for this year, but the failure of the traditional sectors is a bit of a worry to the Minister.
Speaking at a press briefing, the Minister said that the traditional sector remains important.
According to Dr. Singh it is important to work together with all national stakeholders and devote all our energies to preserve the favourable policy environment that was achieved.
Speaking on the failure of the sugar industry the Minister said that there is no shortage of concern in the government about the difficulties facing the industry.
Skeldon was touted as an integral part of the government’s turnaround plan, but to date the factory has failed to live up to its full potential.
Since the European union’s 36% price cut the industry has been on the decline. Just recently the company complained about losing millions of dollars following industrial action at Blairmont. The sugar corporation is also saying that bad weather and industrial action are contributing to the low production output.