Budget 2019 for November reading
DPI, Guyana, Thursday, October 18, 2018
Budget 2019 will be presented to the National Assembly in November of this year. This is in keeping with the APNU+AFC’s promise to present budgets which allow for early approval thereby allowing for public spending to begin early in the new fiscal year.
According to President Granger, in his address to the 11th Parliament, earlier today:
“Economic growth is necessary to sustain and improve the delivery of social services. Budget 2019, which will be tabled in the National Assembly next month, is expected to be based on the theme of transformation for sustainable development and green growth towards achieving the good life… This Budget will be presented in a less than favourable international economic environment. Global economic growth has been revised downwards due, largely, to the negative impact of trade tensions and higher oil prices.”
President David Granger also highlighted a number of external factors which have had a negative impact on the country’s economic performance.
“Guyana’s economy has not been immune to these exogenous influences. The threat of sanctions against RUSAL, a major mining multinational, has created uncertainty in the bauxite sector. The spike in oil prices has impacted adversely on the production costs and on output in key sectors of our economy. The economy, despite these risks and thanks to the government’s prudent management, is expected to enjoy moderate growth this year… Your government will continue to place emphasis on building greater economic resilience through economic diversification, strengthening the traditional sectors and by catalyzing and building capacity in new and emerging sectors such as agro-processing, information communications technology and tourism.”
To date, the Coalition Government has delivered four National Budgets in three years. Each outlining the government’s development agenda to 2020, and several of the policies, programmes and projects that Guyanese can expect, in pursuit of that good life.
Previous budgets were presented in 2015 – $221BILLION, 2016 – $230BILLION, 2017 – $250BILLION and 2018 – $267.1BILLION.
By: Kidackie Amsterdam.
Image: Department of Public Information.