Part 1 Decline in profits The Guyana Bank for Trade & Industry (GBTI) has reported its half-year profits for the year 2017.
Preventing measures Last week’s discussion of local content around Guyana’s oil industry established two key points based on current talks on the matter.
Noise around local content Guyanese have been clamouring for local content provisions in their relationship with ExxonMobil since it became obvious that oil production will be undertaken by the multinational oil giant.
Any and everything Almost every conversation about sustainable development or climate change gravitates towards energy.
Small Guyana is developing the Green State Development Strategy (GSDS) to promote the development of the country.
Complex makeup Many Guyanese have heard the adage “Show me your company and I’ll tell you who you are”.
Alarm In more recent times, there has been much discussion and expression of alarm about Guyana’s manufacturing sector.
A novelty From the look of things, almost everyone in Guyana is preoccupied with the events in the emerging oil and gas industry in the country.
An indication As indicated in last week’s article, one can take a look at the current account and understand many things that affect our economy.
Part 1 Level of savings When one looks at the current account balance in the country’s balance of payments, the concern might be about the deficit that emerges annually and the amount of foreign currency that seems to be leaving the country.
Various observations Various observations about the Guyana economy have been made over the past year or so.
(Conclusion) Rule out Perhaps among the main reasons for agriculture remaining a priority is the contribution that it makes to the economy beyond making food available for consumption.
Viewpoint The Guyana economy like most other economies follows the classification of the United Nations System of Accounts.
Ambition of WIPO Last week, it was pointed out that the World Intellectual Property Organisation (WIPO) emerged after three intellectual property rights conventions, namely the Paris, Berne and Rome Conventions, were established.
Intangible Intellectual property (IP) is one of those intangible things that is important to the production structure of any country.
Equitable According to remarks made by a high official of the health services, in examining the attributes of an effective health care system, Guyana appears to be far from having a good health care system.
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. Among the things that it sought to do was to enable people to distinguish between services and goods that entered international trade.
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.
The reality One could see from the data presented in last week’s article that the intention of the government is clear.
Financial plan On November 28, the Minister of Finance presented the budget for the year 2017 for the consumption of the people of Guyana.
Capital assets In less than one week, trading in the Guyana Stock Market will enter the final month of the year.
Curiosity Prior to the appointment of members of the Public Pro-curement Commission (PPC) this year, the question that comes to mind is what was the responsibility of Cabinet in the award of contracts over $15 million?
]Stiff penalties A few months ago, a few persons, expressed an interest in cultivating industrial hemp as part of the economic production of Guyana.
Broad categories The profile of the Guyanese consumer can be determined by the amount of money that they spend and the things that they spend it on.
Most important drivers Guyanese households spend the most money in the economy with the result that their spending contributes the most to the gross domestic output (GDP) each year.
Globalization Last week, we discussed a few of the stories hidden in the Balance of Payments.
Summary information In the Annual Report of the Bank of Guyana, readers can find a series of tables, one of which is entitled ‘Balance of Payments’.
(Conclusion) Expansion of markets Like with everything else, the cooperative business model contains advantages and disadvantages.
Important planks In thinking about the issues of economic inclusion and social cohesion, the mind of this writer was drawn to the business organization known as the cooperative society.
Conclusion Labour productivity As noted in the first part of this article, six inputs based on physical units or items of expenditure were selected to form an opinion of the stewardship of the previous administration over the affairs of the nation.
Mumbling and grumbling Over the years, there has been plenty mumbling and grumbling about the quality of government services among the general public.
Energy use The issue of sustainable development is something that Guyana will not be able to ignore going into the future.