…Dr Singh disguises burden with technical jargons- Ram/GreenidgeThe growth that the Guyana economy has experienced over the past six years seems to haveFormer Finance Minister Carl Greenidge reacts to the 2012 Budgetslowed. It will decline to 4.1 per cent this year from 5.4 per cent last year.This is according to the Minister of Finance,Jerseys NFL Wholesale, Dr Ashni Singh,Authentic Jerseys Cheap, who on Friday commenced the process of accounting for the nation’s finances and state of affairs economically for 2011. He said that although the inflation rate for the year was at an acceptable level it is projected to increase further.The Finance Minister said that despite the prevailing global conditions, particularly as these relate to the difficulties facing the Euro, as well as the escalating oil prices, Guyana “achieved real growth in Gross Domestic Product (GDP) of 5.4 percent.The Minister said that inflation “remained within acceptable norms at 3.3 percent in 2011,Wholesale China NFL Jerseys, notwithstanding the background of increases in global fuel prices.”He said that this performance reflected Government’s interventions to lower the taxes charged on fuel products and its provision of financial support to the GPL to avoid full pass through of imported fuel price movement.The Finance Minister predicted, that for 2012 the growth is projected to contract/decline to a 4.1 per cent rate while inflation is projected to be 4.6 per cent which the Minister attributed to the escalating oil prices.The Finance Minister’s statements have since been denounced as a clever disguise, using technical,Cheap Jerseys For Sale, financial jargons to basically say that the “Cost of Living” in Guyana will gradually increase during the course of the year.This was expounded on by both the Former Minister of Finance Carl Greenidge and Chartered Accountant, Christopher Ram.Both of the men agreed that what the Finance Minister’s comments translate to is an increased “cost of living” for Guyanese,NFL Jerseys China, particularly for those in employ and worst for those seeking jobs.Greenidge said that the simplest explanation for inflation and what it means for the Guyanese is that “their dollar will be able to purchase less.”He said that it simply means that whatever a sum of money would have bought last year,Wholesale NFL Jerseys, the same amount of money will purchase fewer items in 2012.The former Finance Minister also said that what the contraction in economic growth coupled with the increase in the inflation rate will ultimately mean fewer job prospects for the persons wishing to enter the job market.This, he said, compounds a situation that already exists where unemployment is a significant problem.Greenidge said that the current administration and particularly Dr Ashni Singh, do not seem to place any significant emphasis on unemployment in Guyana. He attributed a main reason to the fact that the unemployment rate is more prevalent among the black communities.Ram calls the movement with the economic growth rate and the inflation rate, akin to a ‘double whammy’ where the Guyanese citizen is being sideswiped adversely by both factors of the economy.He said that the Budget for 2012 clearly illustrates Dr Ashni Singh’s limitation when it comes to preparing such a document for the nation’s yearly expenditure and income.Greenidge said that one would have expected that there would have been adequate compensation in the increase of wages and salaries. This was not to happen.He added that the $600 increase to old age pensioners and the $400 increase for public assistance is an insult.He said that for the country to not readily feel the adverse impact of such a position that Guyana’s economy is in now, it would have required several years of consistent growth at about 11 per cent but this did not happen.