Daily Archive: Saturday, December 1, 2018

Articles published on Saturday, December 1, 2018

George H W Bush

George H W Bush passes away at 94

(Washington Post) George H.W. Bush, the 41st president of the United States and the father of the 43rd, was a steadfast force on the international stage for decades, from his stint as an envoy to Beijing to his eight years as vice president and his one term as commander in chief from 1989 to 1993.

Royston King

Inquiry finds misconduct, abuse of office by Town Clerk

The Commission of Inquiry (CoI) set up to investigate the administration of City Hall has found that Mayor Patricia Chase-Green and Town Clerk Royston King “are not working in the best interest of the city” and has recommended that several officers, including King, be disciplined for abuse of office and other violations.

Leon Johnson winds up during his century knock (Romario Samaroo photo)

Johnson ton, Permaul 5-for highlight Jags warm up

A sedate century from the Guyana Jaguars captain and a five-wicket haul from their most seasoned spinner, Veerasammy Permaul highlighted the final day’s play of the Guyana Jaguars’ final preparation match ahead of the Cricket West Indies Regional Four Day tournament.

Korver scores 14 for Jazz in win over Hornets

(Field Level Media) Kyle Korver scored 14 points off the bench, 12 of those on 3-pointers, in his Utah debut last night, helping the Jazz overpower the host Charlotte Hornets 119-111 to win a second straight to start its three-game trip.

Overflowing garbage bins sit on the road in front of an East Street residence waiting to be emptied as a result of the disruption in collection that has resulted due to the two main contractors suspending their services over non-payment.

New city council should have chance to address garbage collection woes

The newly elected Georgetown Mayor and City Council should be allowed to assess the ongoing payment problems with the city’s two largest garbage disposal contractors and decide if government should be approached for help, Minister of State Joseph Harmon said yesterday “I think that from today, you would have new management at the City Hall and, therefore, I believe it is not only right that they be given an opportunity to wrap their minds around this problem and if, in their deliberation and their contemplation, there is a requirement for additional help, I would leave that call to be made by the council,” Harmon said during his post-Cabinet press briefing.

$17.9B budgeted for agriculture

The agricultural sector has been allocated $17.1 billion in the 2019 national budget to ramp up diversification to take advantage of available resources and to build economic resilience, while prioritising food safety and security, improved infrastructure, new value chains and value-added industries, Finance Minister Winston Jordan has said.

Introduction

Budget Speech 2019, the fourth presented by the current Administration, lasted approximately four and one half hours, testing the stamina not only of the Minister of Finance but the membership of the National Assembly and his audience.

Visit Rupununi’s President Melanie McTurk signing the MoU on behalf of Visit Rupununi, while Brian Mullis signs for the Guyana Tourism Authority. (Photo from Visit Rupununi’s Facebook page)

GTA to promote Rupununi’s tourism products

The Guyana Tourism Authority (GTA) and the non-governmental organisation, Visit Rupununi, have signed a Memorandum of Understanding agreeing to strengthen linkages between Region Nine (Upper Essequibo/Upper Takutu) and the national and international communities to market the Rupununi’s tourism products.

Highlights

In this section, we set out, without analysis or comments, the key takeaways from the Minister’s review of 2018 and his projections for 2019.       2018                 ■             Growth in Real GDP of 3.4% compared with an initial target                                 of 3.8%.                  ■             Inflation at a rate of 2.0% compared with an initial target of 2.4%.                 ■             The Central Bank rate of the Guyana Dollar to the US Dollar at                                 October 2018 was $208.5 compared with $206.5 in 2017, a                                 change of $2 or 1%.                 ■             Average market commercial bank mid-rates for the US Dollar                                 depreciated by 0.02% to $212.61 at September 2018.                 ■             Overall balance of payments deficit of US$180.7 million com                                 pared with US$69.5 million deficit in 2017, worsening by 160%.                 ■             Decrease in merchandise exports of US$45.2 million or 3.1%                                 during 2018, to US$1.39 billion.

Review 2018

In this section, we summarise, review and comment on the economic and financial performance of the Government for the still incomplete 2018 year.

2019 Policy Issues and Targets

Targets Overall real growth is projected at 4.6% in 2019. The following graph presents the percentage of contribution to GDP at 2006 prices by various sectors:Source: Estimates of the Public Sector The primary industry groups are addressed separately below.

Prithvi Shaw

India’s Shaw out of first test with ankle injury

SYDNEY, (Reuters) – India batsman Prithvi Shaw has been ruled out of next week’s first test against Australia after the young opener injured his ankle while fielding during a tour match in Sydney on Friday, according to the country’s cricket board (BCCI).

Christmas comes to the Promenade Gardens

Guyanese will be given the opportunity to experience the festive season in a different form when ‘Christ-mas at the Promenade’ is held on December 16; it promises to cater for all categories of Christmas lovers with well-known composer, comedian and singer Dave Martins set to play a big part.

Who Gets What in 2019

Analysis of expenditure Introduction Properly executed, the Policies and Targets are reflected in the allocation of available funds via the various Ministries and other Budget Agencies.

Upturning the VAT

Widely regarded as an invention of Continental Europe, and its paternity in 1954 attributed to France, VAT is an indirect tax collected mainly by businesses but borne by consumers.

Budget 2019 Measures

In this section we consider the measures announced by the Minister, analyse them, evaluate their impact and discuss the extent to which they provide useful economic benefits to stakeholders.