The Private Sector Commission (PSC) says it is willing to work with the government in all of its endeavours but it needs to increase spending in the economy.
Chairman of the PSC, Edward Boyer told Stabroek News (SN) yesterday in an invited comment, that they have noticed that there is a decline in the economy but acknowledged that when a “new government takes the helm, there is a correction period.”
Boyer’s statement comes in the wake of increasing concerns in the private sector that business activity has slumped significantly for a variety of reasons and citizens are withholding spending.
Boyer says he does not know how long the period of decline would last but said government needs to put money into the economy to fast-track contracts and create a momentum so that there can be growth.
With half of the year gone already, there is only about 17% to 20% of the expected spending in the economy, Boyer asserted, noting that there needs to be an increase in government spending.
