President Irfaan Ali in his New Year’s Message, despite the Ministry of Finance’s dismal midyear financial report and the IDB’s recent statement on Guyana’s economy, declared the country’s economic performance as “stellar”. “Guyana’s economy proved resilient; growth was sustained, inflation contained to single digits, and exchange and interest rates stabilized, the President said.
Ali stated that the “buoyancy of the local economy” helped his government’s “national transformative agenda”. The Ali-led administration is the first to reap the windfall of cash from Oil revenues since oil production began. The former Granger-led government is credited with creating the critical framework of the Natural Resource Fund legislation, making the transfer and spending of the country’s oil wealth possible.
Ali during his address stated, “A massive programme of improving community roads is being rolled out across the country; recreational facilities are being enhanced and drainage improved.” He said bettering social services as continuing to modernize the health sector, delivering education, and increasing access to potable water were all part of his administration’s national programme over the last year.
In the New Year 2023, Ali says, “Economic growth will be sustained. This will generate increased opportunities for citizens and business, spurring further development” while promising “Guyana will be inclusive” post-2030 and “wedded to sustainable development”. He noted that investments in public security have led to a decline in serious crime by 19%. Still, he acknowledged how much crime had spiraled, saying, “The New Year will also witness intensified efforts at arresting criminal activities.”
