Suriname’s government has announced subsidies for fuel purchases. According to the government, this decision is connected to increased revenues Suriname is receiving from the recent increase in the price of oil.
A recent press statement by the Alliance For Change, calling for subsidies to help reduce the price of flour, highlighted the fact that Guyana is set to receive billions in increased revenues from the increased oil prices.
Increased oil prices fill the government’s purse while the average citizen struggles to meet increasing living costs. This has led many to call on the government to redirect a small amount of the increased oil revenue to subsidize the price of fuel in Guyana.
Suriname’s oil production is less than 10% of Guyana’s output. Yet the government has seen it necessary to use the increased revenue to reduce the impact increased oil prices are having on the living standard of Suriname’s citizens. The government of Guyana can take an example and take direct action to reduce the cost of living.
More, In The Ring.
