2017 Outcome Statement Report for National Assembly soon

DPI, GUYANA, Thursday, April 5, 2018

Finance Minister, Winston Jordan has presented an end of year Outcome Statement for 2017 to the Cabinet which has been approved and will be laid in the National Assembly.

This, Minister of State, Joseph Harmon said today, is in keeping with a promise by the Government to provide a final end of year statement that would reflect the actual total figures for 2017.

This, he said, is based on the fact that the macro-fiscal numbers contained in the 2018 National Budget were reflective of actual data up to October 2017 and projections for November and December 2017.

Minister Harmon noted that “it was pointed out that the final numbers included in the report will be subjected to intense scrutiny during the upcoming International Monetary Fund (IMF) Article IV Consultations”.

During an Article IV consultation, an IMF team of economists visits a country to assess economic and financial developments and discuss the country’s economic and financial policies with government and central bank officials.

What proceeds, is a report on the team’s findings to the IMF management, who then presents them for discussion to the Executive Board, which represents all of the IMF’s member countries.

Subsequently, a summary of the Board’s views is transmitted to the country’s government. In this way, the views of the global community and the lessons of international experience are brought to bear on national policies.

The report submitted by Minister Jordan highlighted statistical data in the areas of production of main commodities by sector (sugar, rice, bauxite, gold and forestry), annual growth rate by sector (agriculture, fishing, forestry, mining and quarrying, manufacturing), and electricity and water construction and service industries.

Minister Harmon noted too, that the report provided details of prices, the fiscal sector and debt management.

 

By: Stacy Carmichael