Recently, South African Economics Professor Cyril Hunte caused a stir in Guyana when he claimed that the country’s share of oil revenues in 2022 was short by US$93 million. However, his assertions were met with strong opposition from Economic & Youth Policy Advisor Elson Lowe, who stated that the professor had made an error in his calculations.
The debate highlights the ongoing discussions and concerns surrounding the distribution of oil revenue in Guyana. The country is set to become one of the largest oil producers in the region, with oil expected to drive significant economic growth in the coming years.
As such, it is crucial that the distribution of oil revenue is transparent and equitable to ensure all feel the benefits. The disagreement between Professor Hunte and Mr. Lowe highlights the need for further discussions and careful consideration of these critical economic matters. Antonio Dey tells us why.
