Jagdeo says economy should be doing better; rejects the claim that economy was left in bad state by PPP/C

Opposition Leader Bharrat Jagdeo is contending that the APNU/AFC Coalition Government should be doing much better, in terms of the economy, owing to the fact that the PPP/C Government left a pipeline of projects worth some eight hundred million US dollars.

Jagdeo during a press conference today at Freedom House, Robb Street, Georgetown debunked claims by the Government that the previous regime left the economy in a bad state.

According to Jagdeo the economy under the PPP/C was one that experienced a decade of consecutive growth and was dubbed one of the fastest growing economies in the Caribbean and Western Hemisphere. “The reserves were close to $700M US,” Jagdeo said.

The Opposition Leader took a swipe at the Government for also blaming the non-circulation of drugs money for the decline in economic growth. He called on the Coalition Government to provide the evidence that the economy under the PPP/C was supported by the drug trade.

He pointed to shrinking production and the lack of new investments as contributing factors to the slothfulness of the economy.

Jagdeo said while the Government invested billions in the stadium, they are griping to invest in the ailing Guyana Sugar Corporation (GUYSUCO).

He is contending the Government while in Opposition was aware that GUYSUCO was in trouble, noting that the PPP/C had planned to invest some 20 billion dollars in the sugar industry in its effort to save it.

The Opposition Leader said it is not for the opposition to go to Government and present its broad plan created to salvage sugar.