The Private Sector Commission (PSC) is optimistic that the PPP/C Government will provide citizens with salary increases and other incentives in time for the Christmas season.
PSC Chairman, Paul Cheong during a recent interview on NCN explained that during 2022, the administration had undertaken a number of initiatives, including one-off cash grants, as a means of helping with the high cost of living. The commission believes that year-end will be no different.
“This part of the year is the busiest time of commercial activity and people will look forward to the Christmas bonus and salary increases. So we think that from now until the end of the year lots will happen to help with the shock of increasing prices,” The Chairman said.
With regard to possible increased spending within the coming weeks, Cheong said, “Guyana’s economy is expected to grow close to 60% in terms of our GDP; this means that there will be increased demand for goods and services. And with increased demand, if you don’t have supply, to balance it, prices will go up.”
He further stated, “We encourage businesses to ensure that they have sufficient supply for the holiday season and to cater for the increased economic activity.”
Cheong concluded, “With Christmas, there is going to be a lot of money in the system and I hope that businesses can have their goods and services available when consumers require them.”
