Rawle Lucas

Mandate The United Nations Development Programme (UNDP) is one of the international entities of the United Nations family of organizations. 

Key In reading about the economic transformation of the Southeast Asian region, one often wonders what lessons Guyana can learn from those countries. 

Recall from last week’s article, that the benefits received by taxpayers are not all the same and are usually determined by the policy goals of the government which are determined by the level of development of the country, the economic and social condition of the people and the quality of its institutions. 

Passion Of late, there has been plenty angst expressed about taxes, and in some cases it was accompanied by an open show of concern using the democratic means of protest. 

Future-looking strategy Ever since the UN Conference on Environment and Development in Rio de Janeiro in June 1992, the world was seized with issues of sustainable development with some urgency.

Continuously in debt Guyana perennially runs a trade deficit which in the simplest of circumstances means that it is continuously in debt to other countries. 

Beneficiary of wealth The global production structure is made up of an interrelated set of bargains, agreements, rules, laws and institutions that are intended to bring countries closer to each other in a more harmonious relationship. 

Commodity markets Guyana exports many products to markets in the Caribbean and around the world. 

Vital role Last week’s article offered an overview of trade in services. 

Inconspicuous International trade is very important to the growth of the world economy accounting for about 60 per cent of world gross domestic product (GDP). 

Global trade The Guyana economy grew an average of 4.5 per cent over the period 2010 to 2013. 

Broadening production Guyana has long sought to diversify its economy.  Economic diversification refers to broadening the production structure of the country. 

An alarm has been raised about the availability of foreign currency in Guyana within the last three or so months. 

Complexity of industry In an effort to gain a better understanding of how the oil industry works, we started examining its structure last week, using some of the methods that oil industry operators and analysts use. 

Bugbear Guyanese have read and heard about oil discoveries and production that have taken place in various parts of the world. 

Noticeable pleasure Some 17 years ago, ExxonMobil and Guyana signed an agreement for the former to explore for oil in the territorial waters of Guyana. 

Much experience Sterling Products Limited (SPL) is a manufacturing company that produces a variety of products, including ice cream, margarine and laundry products.

(Conclusion) Rice Last week’s article discussed the things necessary to achieve stability and durability in the national economy. 

Focus and attention The national economy is usually divided up into four sectors, namely, agriculture, mining, manufacturing and services.

(Conclusion) Continued attention and support In last week’s article, I indicated the reason that low-income workers appeared unenthusiastic about the relief that the 2017 budget has brought them.