February 10, 2025
President Dr. Irfaan Ali has reaffirmed his government’s commitment to responsibly managing Guyana’s oil and gas resources while addressing key challenges facing the country.
In a live podcast interview on Sunday, President Ali highlighted the need for strategic planning to mitigate external shocks, particularly the global rise in the cost of imported food.
He attributed this increase to unfavorable weather patterns, rising freight costs, and new tariffs imposed by global leaders, among other factors.
To address these challenges, the President revealed that his government, in collaboration with the private sector, will focus on stabilizing freight costs.
This is crucial as many local companies rely heavily on imports. He noted that strategies to benefit consumers will be included in the upcoming budget.
In terms of food security, President Ali emphasized that since taking office, his administration has made significant investments in agriculture with the goal of making Guyana a food-secure nation capable of feeding the region.
Regarding the high cost of energy, which has long been a barrier to value-added production, President Ali assured that significant changes are expected this year.
He stated that energy prices will decrease, offering new opportunities for growth in the country’s industrial sector.