Alliance for Change (AFC) Leader, Nigel Hughes is calling for a politically and mutually agreeable economic plan that transcends electoral changes in government.
Hughes, who spoke at an event in New Amsterdam, Berbice over the weekend, said that no country or civilization has survived throughout history without having long-term plans.
“You can’t wake up tomorrow and decide today I’m giving you a $100,000 and ah giving you a $200,000. We, as a country, must have plans that are at minimum of 15 to 20 years cycle – we must know where we’re going! We must know where our destiny lies”.
Hughes was referring to the People’s Progressive Party/Civic (PPP/C) government unveiling plans to distribute $100,000 to every Guyanese 18 years and older. The initiative was revised from $200,000 per household, with President Dr Irfaan Ali citing logistical challenges and possible exploitation of loopholes.
The AFC Leader explained that all political parties must agree to a singular plan that must be carried out despite changes in government. This plan, he said, must focus on five main areas: the economy, education, reduction of poverty, health and foreign affairs.
“We can vote different parties in over those 15 years, but the principle in those five areas will not change,” Hughes said.
The AFC Leader also noted that Guyanese must not be distracted in this “time of plenty”.
“We cannot think that because we get all this oil money that it will keep coming forever. The most important thing for any country is its ability to manage it finances – it’s all about the money! Don’t get distracted that because we are in a time of plenty that we are always going to be in a time of plenty.
Some very strategic things need to be done, Hughes emphasized.
However, the AFC Leader did not say how this plan will factor in oil price volatility or how his party intends to get each political party to buy in to the idea.
The People’s Progressive Party/Civic (PPP/C) government, however, has consistently emphasized the need to manage expectations surrounding expenditure, especially given the fluctuating nature of global oil prices. Vice-President and former Finance Minister Bharrat Jagdeo has cautioned the public on multiple occasions, highlighting the volatility of oil prices.
As recent as last month, the VP during a high-level meeting with government officials and senior public servants, discussed plans for Budget 2025. During that event it was noted that the country is set to benefit significantly from oil revenues, he urged caution.
“The best days for oil revenues are ahead of us, particularly if the current prices hold globally, but there is a real risk of a price collapse,” he warned.
