Real GDP

-The Guyanese economy grew by 2.3 percent in 2009-a fourth consecutive year of positive growth since the 2005 floods.

-Non-sugar gross domestic product grew by 2.2 percent in 2009.

Viewed in the global and regional context, this sustained domestic performance is demonstrative of the increasingly strong fundamentals on which our economy now rests.

Sectoral Performance

-Sugar production amounted to 233,736 tonnes, an increase of 3.3 percent over the previous year.

-The rice industry expanded its input by 9.2 percent to produce 359,789 tonnes, the highest annual production level in a decade and the second highest production level in the entire history of the industry.

- The other crops sector grew by 5.8 percent, reflecting continued returns to the 'Grow More' food campaign and more efficient market access, particularly with the bridging of the Berbice River.

-The fishing sector contracted by 10.5 percent, mainly on account of lower demand in export markets.

-The forestry sector also contracted by 0.6 percent driven by lower log production and reflecting lower demand for forest products in the export markets.

- The mining and quarrying sector recorded growth of 0.7 percent, reflecting mixed performances in the sub-sectors

- The manufacturing sector continued to record mixed performances, with some sub-sectors such as aerated beverages, mineral or distilled water and stock-feed recording increased production.

-Growth in the engineering and construction sector moderated to 1.5 percent.

- The transport and communication sector grew by 2 percent, while the distribution sector expanded by 6.6 percent, financial services by 3 percent, rental of dwellings by 2 percent and other services by 3 percent.

Balance of Payments

-The balance of payments reflected significant improvement to end 2009 with an overall surplus of US$234.4 million, compared with a surplus of US$5.6 million in 2008
The overall balance of payment surplus enabled the Bank of Guyana to increase its external reserves position from US$356 million at the end of 2008 to US$628 million, the highest ever in our country's history.

Monetary Developments

-Credit to the private sector increased by 5.7 percent

- Government increased the ceiling on mortgages granted by the New Building Society Ltd. from $8 million to $12 million. In addition, Government increased the ceiling on loans granted by participating commercial banks under Government's low income housing programme from $2 million to $8 million.

Price and Income

-At the end of 2009 inflation was 3.6 percent

- The value of the Guyana dollar appreciated by 0.97 percent against the US dollar.

Fiscal Position

Non-Financial Public Sector

-The fiscal performance of the non-financial public sector continued to improve in 2009, with an overall deficit of $13.5 billion or 5.3 percent of gross domestic product, a significant reduction from the 7.6 percent in 2008.

Central Government

Current revenue amounted to $94.9 billion, an increase of 15 percent over 2008, as a result of improved performance of both tax and non-tax revenue categories

Total expenditure increased by 11.4 percent above 2008 to $127.4 billion primarily as a result of significant increases in investment expenditure of 30.7 percent to $47 billion and a moderate increase of 2.5 percent in current expenditure. The former was mainly due to increased investment in the agricultural, construction and housing sectors.

quote:

Originally posted by SJ4321:

Is long time since I last saw Monopoly money.

The achievements of the past year are the direct result of careful and deliberate policy stance aimed at maintaining macro-economic stability, strengthening the underlying capacity of our economy, and improving the circumstances of our people.

GREAT WORK BY THE GOVT OF DR BHARAT JAGDEO.

quote:

Balance of Payments

The balance of payments reflected significant improvement to end 2009 with an overall surplus of US$234.4 million, compared with a surplus of US$5.6 million in 2008. The overall balance of payment surplus enabled the Bank of Guyana to increase its external reserves position from US$356 million at the end of 2008 to US$628 million, the highest ever in our country's history.

This is refreshingly good news.

Can someone please provide an analysis/breakdown? Was this 66% increase a result of high gold prices?

The prudent management of the economy by this Government has enabled Guyana, despite the global financial meltdown to maintain sound macro economic fundamentals. In fact one could say after 2011, this would be a legacy of the Jagdeo administration.
In addition we need to understand the context under which the PPP Government took over Guyana in 1992. Guyana was in a state of turmoil, heavily indebted, with dilapidated infrastructure, and the people suffered countless human rights violations. The environment was unstable, hostile and poverty was unimaginable. Our economic viability has to be assessed within this framework.

The problems facing the newly elected PPP Government in 1992 were enormous: the civil service had collapsed and the ministers were untried. Yet things improved: debts were cancelled, the infrastructure rebuilt, new and newly rehabilitated schools and health centres went up nation wide, and agriculture, long depressed, began to boom again. Monday's budget presentation assured us of the continuing progress within the changes that are occurring globally.

quote:

Originally posted by Berbician:
The prudent management of the economy by this Government has enabled Guyana, despite the global financial meltdown to maintain sound macro economic fundamentals. In fact one could say after 2011, this would be a legacy of the Jagdeo administration.
In addition we need to understand the context under which the PPP Government took over Guyana in 1992. Guyana was in a state of turmoil, heavily indebted, with dilapidated infrastructure, and the people suffered countless human rights violations. The environment was unstable, hostile and poverty was unimaginable. Our economic viability has to be assessed within this framework.

taken from a famous speech of June 2009.

quote:

Originally posted by Mitwah:

quote:

Originally posted by Berbician:
The prudent management of the economy by this Government has enabled Guyana, despite the global financial meltdown to maintain sound macro economic fundamentals. In fact one could say after 2011, this would be a legacy of the Jagdeo administration.
In addition we need to understand the context under which the PPP Government took over Guyana in 1992. Guyana was in a state of turmoil, heavily indebted, with dilapidated infrastructure, and the people suffered countless human rights violations. The environment was unstable, hostile and poverty was unimaginable. Our economic viability has to be assessed within this framework.

taken from a famous speech of June 2009.

bai u is a camic

quote:

Originally posted by Berbician:

quote:

Originally posted by Mitwah:

quote:

Originally posted by Berbician:
The prudent management of the economy by this Government has enabled Guyana, despite the global financial meltdown to maintain sound macro economic fundamentals. In fact one could say after 2011, this would be a legacy of the Jagdeo administration.
In addition we need to understand the context under which the PPP Government took over Guyana in 1992. Guyana was in a state of turmoil, heavily indebted, with dilapidated infrastructure, and the people suffered countless human rights violations. The environment was unstable, hostile and poverty was unimaginable. Our economic viability has to be assessed within this framework.

taken from a famous speech of June 2009.

bai u is a camic

Nahi bhai. You beat me.. Are you capable of doing the decent thing by saying 'sorry'?

Berbician is a shameless serial plagiarist.

quote:

Originally posted by Mitwah:

quote:

Originally posted by Berbician:

quote:

Originally posted by Mitwah:

quote:

Originally posted by Berbician:
The prudent management of the economy by this Government has enabled Guyana, despite the global financial meltdown to maintain sound macro economic fundamentals. In fact one could say after 2011, this would be a legacy of the Jagdeo administration.
In addition we need to understand the context under which the PPP Government took over Guyana in 1992. Guyana was in a state of turmoil, heavily indebted, with dilapidated infrastructure, and the people suffered countless human rights violations. The environment was unstable, hostile and poverty was unimaginable. Our economic viability has to be assessed within this framework.

taken from a famous speech of June 2009.

bai u is a camic

Nahi bhai. You beat me.. Are you capable of doing the decent thing by saying 'sorry'?

Show me speech na man and please tell me who was the AUTHOR of the speech

quote:

Originally posted by Berbician:

quote:

Originally posted by Mitwah:

quote:

Originally posted by Berbician:

quote:

Originally posted by Mitwah:

quote:

Originally posted by Berbician:
The prudent management of the economy by this Government has enabled Guyana, despite the global financial meltdown to maintain sound macro economic fundamentals. In fact one could say after 2011, this would be a legacy of the Jagdeo administration.
In addition we need to understand the context under which the PPP Government took over Guyana in 1992. Guyana was in a state of turmoil, heavily indebted, with dilapidated infrastructure, and the people suffered countless human rights violations. The environment was unstable, hostile and poverty was unimaginable. Our economic viability has to be assessed within this framework.

taken from a famous speech of June 2009.

bai u is a camic

Nahi bhai. You beat me.. Are you capable of doing the decent thing by saying 'sorry'?

Show me speech na man and please tell me who was the [b]AUTHOR of the speech[/B]

Co written by Elizabeth Daly and Kimberly Edwards. Ask Premium Misery to show you the speech.

Berbician, you have plagiarized so much that you are now asking me, in your confusion, to help you find the speech from which you sourced your postings. You are a paid milk drinker and the worst think that can happen to a person is for s/he to loose his/her credibility. But then again you have no shame and not big enough to say 'sorry'. How do you sleep?

quote:

Originally posted by Mitwah:
Berbician, you have plagiarized so much that you are now asking me, in your confusion, to help you find the speech from which you sourced your postings. You are a paid milk drinker and the worst think that can happen to a person is for s/he to loose his/her credibility. But then again you have no shame and not big enough to say 'sorry'. How do you sleep?

same way people like Nigel dem could sleep

I am not taking your bait to discuss about another poster.

Let's get back to the budget discussion. Why is there a reduction in the Agriculture budget and an increase of spending for the OP and the Ministry of Finance?

TK, what's your take on the 2009 performance? And the 2010 budget?

quote:

Originally posted by Mitwah:
I am not taking your bait to discuss about another poster.

Let's get back to the budget discussion. Why is there a reduction in the Agriculture budget and an increase of spending for the OP and the Ministry of Finance?

Many of the major infrastructural works in this country is facilitated by a negotiating team from the MOF specifically the project cycle division and the state planning secretariat.

quote:

Originally posted by Berbician:

quote:

Originally posted by Mitwah:
I am not taking your bait to discuss about another poster.

Let's get back to the budget discussion. Why is there a reduction in the Agriculture budget and an increase of spending for the OP and the Ministry of Finance?

Many of the major infrastructural works in this country is facilitated by a negotiating team from the MOF specifically the project cycle division and the state planning secretariat.

Thanks!

Could you post some of the charts? The ones I have seen are difficult to read.

quote:

Originally posted by Mitwah:

quote:

Originally posted by Berbician:

quote:

Originally posted by Mitwah:
I am not taking your bait to discuss about another poster.

Let's get back to the budget discussion. Why is there a reduction in the Agriculture budget and an increase of spending for the OP and the Ministry of Finance?

Many of the major infrastructural works in this country is facilitated by a negotiating team from the MOF specifically the project cycle division and the state planning secretariat.

Thanks!

Could you post some of the charts? The ones I have seen are difficult to read.

Sorry don't have access to that