Increased credit to ‘agri’ sector results in massive production boost -President Ali says
OWING to strategic policies, credit to Guyana’s agriculture sector has seen a whopping increase from $12. 2 billion in 2019 to $21.9 billion by 2023, President Dr. Irfaan Ali has said.
“That is confidence in the policy; that is people responding to the policy. That is the policy working in the interest of the people increasing production,” Dr. Ali said during a recent broadcast address.
He further noted that the implementation of several polices shielded citizens from the full brunt of global economic conditions, and ensured that food production remained stable.
And that despite being challenged by the shocks brought about by the COVID-19 pandemic, the pressures from rising transportation costs and rising costs in the movement of goods and services, the Government of Guyana has remained resilient in its response, implementing a number of measures.
These included :
Reversing drainage and irrigation charges
Investing in shade houses
Removal of cooperate tax on loans for farmers
These measures, he said, saw massive increases in the production of rice, meat and other crops.
“You can remember that DNI charges increase on the last government by 220%. Irrigation fees, land rental fees increased by 600%, we reversed all of that. We reversed the 600% increase and the 220% increase that led to savings to the farmers that led to more capital available for production,” Dr. Ali further explained.
“Outside of that, we invested heavily in shade house construction, bringing young people into the production process, supporting women to invest in agriculture,” President Ali added.
According to statistics provided by the President, production of rice increased to 653,706 tonnes from 550,000 tonnes in 2021.
Crop production saw an increase from 735,000 tonnes in 2021 to 891,000 tonnes by 2023.
Meat production saw an increase by 46% from 42,740 tonnes in 2020 to 62,536 tonnes by 2023.
Meanwhile, the output for the fishery increased by 61% from 19,993 tonnes in 2020 to 32,234 tonnes by 2023.
Shrimp production increased by 22% from 13,543 tonnes in 2020 to 16,580 tonnes in 2023.
“These are a net effect; the impact of the policies that were brought in place,” the President said.
Dr. Ali pointed out that Guyana has seen a lower food inflation percentage when compared to other countries in the region, and this, he highlighted, was not by accident.
“This was by a deliberate set of measures, implemented by the Government of Guyana to boost production, support the poultry sector, the support to farmers, fertiliser, etc. The expansion of production, the investment in infrastructure to increase production, the building out of a robust agriculture programme,” the President said.
And, while highlighting the effects of the previous coalition government’s imposed burdensome taxes and reduced disposable income, President Ali reiterated that the government’s deliberate policies and programmes are aimed at boosting production, supporting farmers, and cushioning the effects of inflation on the population.
In the European Union, food price inflation increased from the last quarter of 2021 to reach 3.5 per cent in January and 7.5 per cent in May 2022.
In Latin America and the Caribbean, food price inflation surged steadily from January 2022 to 81.6 per cent by September 2023.
Food price inflation in the United States increased to 10.9 per cent in July 2022, the highest since 1980.
In 2023, Guyana’s food inflation rate was 3.8 per cent, 7.8 per cent in Jamaica and 81.67 per cent in the Latin American region.
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