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Guyana’s Projected Oil Income for 2024 & Funds for the Striking Teachers Et al. per minute, per hour, per day…

Admin by Admin
February 12, 2024
in News
Nigel Hinds, Chartered Public Accountant

Nigel Hinds, Chartered Public Accountant

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The underpaid teachers are emblematic of the lack of funding by the People’s Progressive Party (PPP) for the 48% of Guyanese living in poverty. We strongly believe that the economically conscious teachers are aware that the Government of Guyana had over ~GY$434 Billion in Guyana’s Natural Resource Fund as of December 31, 2023.

The PPP hubris is inviting a National Strike with their cruel, callous, and uncaring treatment of public servants, pensioners, and the unemployed. 

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The failure of the PPP to use the Natural Resource (NR) Funds for cash-transfer of $50,000 per household for each household earning less than $500,000 per year, is necessary to remedy the extreme poverty across counties, regions, and communities in Guyana.

The strike by the Guyana Teachers Union should be supported by all right-thinking Guyanese, and the PPP must awaken from their pro-poverty slumber, set aside arrogance and directly attend to the egg and bread needs of the Guyanese people, by using the NR funds and funds generated from over 645,000 barrels of oil being produced each day in Guyana.

Guyana is awash with funds to provide cash-transfers and meaningful increases to Teachers and other public servants, as can be seen in the Guyana Oil Income Table herewith and the current funds in the NRF.

Table: Guyana’s Projected Oil Income for 2024:

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