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By Kiana WilburgThe inherited liabilities, the current state of the economy and the way forward for Guyana, were the focal points of President David Granger’s address to the nation’s Parliament yesterday.President David GrangerEven though the political opposition staged a walkout before he commenced his presentation, an unfazed Granger still preached inclusivity before members of his Government, the Diplomatic Corps and other invited guests.The President told the Parliament that the Government entered a depressing financial landscape in May 2015. He said that the economic legacy that the nation inherited was characterised by a lack of strategic planning and whimsical decision-making.Granger said that the absence of a policy to provide employment opportunities for youth, and to reduce extreme poverty and the failure to energise the manufacturing sector, weakened the economy.The President said that economic mismanagement was accompanied by huge debts for unpaid international obligations and court judgements.The Head of State said that the gravest financial problem was the bankruptcy of the Guyana Sugar Corporation (GuySuCo) which owed $89 billion in debts.“Your Government was forced to divert money from economic development and social projects to rescue the ailing corporation with an immediate injection of $12 billion. An additional $11 billion had to be provided the next year, 2016,Andrew Wiggins Kansas Jersey, making a total of $23 billion bailout in 18 months.”Granger said that these transfers exclude the servicing of GuySuCo’s debts in respect of the Skeldon Estate Modernisation Project. He deemed the project to be a monstrous and monumental US$200 million mistake and,Denzel Valentine Michigan State Jersey, probably, Guyana’s single most costly industrial catastrophe of all time.The President said,Rueben Randle LSU Jersey, too, that paddy farmers in the rice industry were not spared the previous administration’s reckless mismanagement.In this regard, Granger pointed to the PetroCaribe Fund which was used to meet payments to farmers for rice and paddy shipped to Venezuela. He said that the Fund contained less than US$1 million in May 2015.Again,Desmond Howard Michigan Jersey, Granger said that the Government was forced to make available nearly $4 billion immediately,Luke Hancock Louisville Jersey, so that poor paddy farmers could be paid.“Your Government inherited a large number of liabilities, including judgements in excess of US$34 million (or G$7 billion) in favour of NH Elias, in respect of the East Bank Demerara Road; judgement for $1.3 billion in favour of Rudisa Beverages; judgement in favour of Trinidad Cement Limited; settlement for$1.4 billion with B.K. Tiwarie on Haags Bosch Project and several other judgements that will cost the State over $1 billion.”The Head of State said that the Government,Leonard Fournette LSU Jersey, also, was obliged to provide another $5.4 billion bailout to the National Insurance Scheme as a consequence of the previous administration’s irresponsible investment in the Colonial Life Insurance Company (CLICO).Granger emphasised that despite encountering this immense mountain of debt, the coalition administration was “able to meet commitments to the nation’s hard-working public servants”. In this regard, he reminded that the minimum wage grew from $39,520 in May 2015, to $55,000 in January 2016, an increase of 39.2 per cent in seven months.“Public servants have benefitted, in addition, from the raising of the tax threshold, from $600,000 in May 2015 to 660,000 in January 2016; the removal of income tax from workers’ contributions to the National Insurance Scheme and a tax-free payment of $50,000 to all workers earning less than $500,000, in December 2015.”Granger said that these benefits, taken together, augmented workers disposable income significantly.He noted that collective bargaining with public servants’ unions could result in additional benefits in the form of increased increments, allowances and adjustments made for ‘de-bunching’.The President also reminded that old-age-pensions have been increased from $13,120 to $18,200 or by 38.7 per cent, and Public Assistance increased by 24 per cent during the same period,Brad Kaaya Miami Jersey, May 2015 to April 2016.With the aforementioned in mind,Trey Burke Michigan Jersey, the President recommitted to Government’s promise of a better life for all citizens.The President said that the provision of quality public services is associated with enhancing the ‘quality of life’ of citizens.“We are mindful of the need to improve public administration to make public services more accountable, accessible and affordable. Continuous training and filling resource gaps in the public service will be integral to the process of reforming our system of public administration. We will improve the professionalism of the public service in 2017,” the Head of State expressed.The President also noted that his Government remains committed to good governance and to the reform of the Constitution. It will, in this regard, convene a Consultative Constitution Reform Commission in 2017.“We have demonstrated our determination to ensure that local government elections are held. We will,Tim Hardaway Jr. Michigan Jersey, without fail ensure that elections are held every three years as required by the Constitution. Citizens’ right to elect the representatives of their choice at free and regular elections will not be suspended again. Public policy will be undergirded by an inclusionary political process.”Granger added, “The empowering of local communities through the holding of the historic local government elections of 18th March, 2016 created a platform for government to be brought closer to the people, and for authority to be exercised through their own elected representatives.”The President said that the derailment of public policy marked by the previous administration’s bizarre determination not to conduct local government elections, by uprooting neighbourhood democratic councils and by imposing a perverse form of dictatorial on local government organs, has been brought to an end.