By Mark DaCosta- Ordinary Guyanese across the country are lamenting the fact that prices are rising so quickly and so high that any sort of normal life is now impossible. This is the reality on the ground despite the fact that oil money is pouring into the country. Ordinary citizens and analysts are wondering what the government is doing with all the oil money, as prices of basic food items are skyrocketing out of reach.
At the beginning of 2023, minister with responsibility for finance, Dr. Ashni Singh, said that some $1.63 billion in oil revenues will enter Guyana’s Treasury during the year. Apparently, though, all that money is making no difference to the lives of ordinary Guyanese. And the question arises: where is all that money going; who is benefitting from all the billions of dollars in oil revenues?
Within recent months there have been steep increase in basic items such as:
- Caribee rice: $1,300 – $1,950
- Fernleaf milk: $460 – $800
- Bora: $200 – $500
- Canola oil: $2,600 – $4,700
- 2 litre Coke: $380 – $520
- Sugar: $80- $200
- Bread: $240- $360
And the list goes on. Essential foods are moving out of the economic reach of ordinary citizens, many of whom get by on less than $1200 per month.
Another publication did a food basket/cost of living survey and found that several Guyanese noted their incomes have not increased, even as rents have gone up, the price of school uniforms have increased, and even school bus operators are charging more money to transport children to schools.
The pain being experienced by Guyanese owing to rising prices is real.Â
According to the most recent statistics from the World Bank and other international agencies, the inflation rate is the highest in recent history at 5.03 percent, Unemployment stands at 15.6 percent, and poverty is at the unbelievably high rate of 38.8 percent.
According to international statistics, the average cost of living in Guyana is US$804 per month per person. However, after taxes, the average resident is left with only US$403. According to Living Cost – an international statistics agency – that is only enough to pay for basic items and services such as rent, electricity, water, and food for half a month. Are Guyanese supposed to starve and live on the streets for the remaining half of the month?
Due to the unbearable situation being experienced by most people, it is not surprising that Guyanese are expressing such frustration and pain, and wondering when relief will come.Â
