The PPP regime’s rudimentary approach to the economic management of Guyana has resulted in food and fuel prices shooting through the roof. Guyanese families over the weekend were hit with a double whammy, as both fuel and sugar prices took a jump.
Sugar is now being sold for 140 per pound, which is doubled the $70 price of a pound of sugar under the APNU+AFC Coalition Government.
Since being installed as caretakers of the Guyanese people’s affairs in August of 2020, the Ali-led regime has failed to manage and control the prices for anything in Guyana effectively. Only on Saturday, the Guyana Oil Company Guyana announced a $14 per liter increase in fuel across the country. That increase moved the gas price from $225 per liter to $239 per liter.
APNU+AFC Shadow Finance Minister Juretha Fernandes in her Budget 2022 presentation had predicted that by the end of 2022 the inflation rate would have increased by 11%. “When this budgetary period ends, the PPP would have presided over a total inflation rate of over 11 percent in just two and a half years,” the MP said.
Since coming to office in 2020 the PPP Government has been plagued by an out-of-control price surge at the market. Leaving many Guyanese to question, when will it be over? The working poor in Guyana continues to see their spending power weaken day after day, although the announced massive oil finds by ExxonMobil.
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