`Encouraging’ 2018 economic performance marred by current political climate – Private Sector Commission

What the Private Sector Commission (PSC) says was an “encouraging” preceding year for the country’s economy has, it surmises, metamorphosed into a potentially challenging 2019 arising out of lingering economic challenges and moreso, the political circumstances arising out of the December 21 Confidence Vote in the National Assembly.

The PSC’s assessment, while alluding to “economic growth in sectors such as agriculture, forestry and fishing, manufacturing, construction and services,” which, it says, collectively contributed positively to the country’s “projected 3.4% growth rate,” veers sharply to what it perceives as the uncertainties of the new year arising chiefly out of the political developments of late last year.

“From all angles of our country, businesses have stated that the political climate is definitely a concern for 2019 as there is great uncertainty and in some areas hostility, as the talk about elections are prolonged,” the statement says.  “To exacerbate this situation, businesses in remote areas such as Berbice and Region Three – particularly Wales, are expressing deep concerns as spending power is expected to wane during 2019 as a result of the massive redundancies from the closure of sugar estates,” the PSC pronouncement adds…..