[ad_1]
Guyana’s President Irfaan Ali said credit to Guyana’s agricultural sector will increase significantly from $12.2 billion in 2019 to $21.9 billion in 2023 thanks to strategic policies.
“This is confidence in the policy; this is people’s response to the policy. This is a policy that is in the interest of the people and will increase production,” Dr Ali said in a recent radio address.
He further noted that the implementation of a number of policies has shielded citizens from the full impact of the global economic situation and ensured that food production remains stable.
Despite the impact of the COVID-19 pandemic, rising transport costs and pressure from the increased cost of the movement of goods and services, the Government of Guyana has maintained a strong response and implemented a series of measures.
These include:
Cancellation of drainage and irrigation fees
Invest in an awning
Abolition of cooperative tax on farmers’ loans
He said the measures have led to a sharp increase in production of rice, meat and other crops.
“You remember that the DNI fees under the previous government went up by 220 percent. Irrigation fees, land lease fees went up by 600 percent and we reversed all that. We reversed the 600 percent and 220 percent increases and that saved the farmers money, which gave them more money for production,” Dr. Ali further explained.
“In addition to this, we have invested heavily in building shade sheds, involving young people in the production process and supporting women to invest in agriculture,” President Ali added.
According to data provided by the President, rice production increased from 550,000 tons in 2021 to 653,706 tons.
Crop production will increase from 735,000 tons in 2021 to 891,000 tons in 2023.
Meat production will increase by 46% from 42,740 tons in 2020 to 62,536 tons in 2023.
Meanwhile, fishery production will increase by 61% from 19,993 tons in 2020 to 32,234 tons in 2023.
Shrimp production will increase by 22% from 13,543 tonnes in 2020 to 16,580 tonnes in 2023.
“Those are the net effects, the effects of the policies that have been implemented,” the president said.
Dr. Ali noted that it is no accident that Guyana has a lower rate of food inflation compared to other countries in the region.
“This is a series of well-thought-out measures by the Government of Guyana to boost production, support the poultry industry, support farmers, provide fertilizers, etc. to expand production, invest in infrastructure to increase production, and build a strong agricultural program,” the President said.
While highlighting the impact of heavy taxation and reduced disposable income imposed by the previous coalition government, President Ali reiterated that the government’s well-thought-out policies and programs are aimed at boosting production, supporting farmers, and cushioning the impact of inflation on the people.
In the EU, food price inflation began to rise in the last quarter of 2021, reaching 3.5% in January 2022 and 7.5% in May.
In Latin America and the Caribbean, food price inflation soared steadily from January 2022 to 81.6% in September 2023.
In July 2022, the U.S. food price inflation rate rose to 10.9%, the highest since 1980.
In 2023, food inflation rates were 3.8% in Guyana, 7.8% in Jamaica and 81.67% in Latin America.
[ad_2]
Source link
