During a public session of the National Assembly, the head of government Chandrikapersad Santokhi responded to a range of inquiries from lawmakers. On Tuesday, April 18, 2023, the head of state stated that the efforts to control the currency rate aren’t being used in isolation. In the nation’s conference room, President Santokhi declared that the complete reform strategy that has been launched to restore the health of our economy is being carried out in tandem with the exchange rate restraint measures.
The head of state has said he fully comprehends the need for the social program to be put into action more rapidly. “There is a tangible pressure from society.” He claims that some bureaucratic issues require attention. “The Project Management Team and Minister of Social Affairs and Housing recently met in a very urgent setting. The SRD 1800 buying power boost must be paid to weak households much more quickly and effectively, the president underlined. He has directed that the individuals who have already been named be paid. The money has already been distributed. We must make accommodations for everyone.
In the Supreme Council of State, President Santokhi emphasized how crucial it is to promote local production. According to him, this will lead to the creation of jobs and our ability to earn revenue as a nation. Additionally, the investment strategy has been stepped up to encourage domestic production. The chief of state mentioned trust as a critical component of being able to control the exchange rate during his response in parliament. According to the chief of state, people will always choose to convert their money into foreign currency if they lack confidence in our currency. With the many strategies that have already been put forth, we will need to discourage this.