$135.2B allocated towards Guyana’s education sector

The government plans to inject some $135.2 billion into the education sector in 2024, as it continues to craft strategic strategies that will further spur the nation’s education system.

Senior Minister in the Office of the President with responsibility for Finance, Dr Ashni Singh made the announcement on Monday, when he presented budget 2024 at the National Assembly being held at the Arthur Chung Convention Centre (ACCC), Liliendaal.

Senior Minister with Responsibility for Finance in the Office of the President, Dr Ashni Singh

Some $4.1 billion is budgeted to support the University of Guyana’s operations.

A total of $735 million is budgeted for the training of 1,000 young persons in relevant aspects of information and communication technology (ICT) in a wide variety of areas where skills gaps exist.

In order to support technical and vocational interventions, some $2.3 billion is budgeted in 2024.

The allocation is in keeping with the government’s five-year Education Strategic Plan (ESP) 2021-2025-Vision 2030.

In 2023, the sum of $105 billion was spent by the education sector on various interventions to provide enhanced access to educational opportunities.

These interventions include the construction and upgrading of educational facilities, the national school feeding programme, cash transfers, distribution of textbooks, training of teachers, and renewed curricula, among others.

This, Minister Singh, highlighted, ensures that every Guyanese has adequate access to acquire the skills that are needed to participate meaningfully in the world of work, while ensuring that the new and emergent economy has an adequate supply of skilled labour with the relevant skillsets.

The heavy focus on the education sector has reaped continued success, which is indicated by significant increases in the pass rate at critical examinations.