Budget 2021 preparation starts
-most of 2020 measures implemented
The crafting of National Budget 2021 has begun with the budget circular set to go out to ministries shortly.
That circular instructs ministries to prepare individual budgets and submit them to the Finance Ministry, which would review and incorporate the documents into the master budget as necessary.
Senior Minister within the Office of the President with responsibility for Finance, Hon. Dr Ashni Singh, on Friday, told DPI that the upcoming budget was significant even as he recalled that the 2020 Budget was an emergency document.
“It is going to be the first budget of this Government’s term of office, so it is going to outline our medium and long-term vision. It’s going to include a number of the important initiatives that we see as critical to realising the modern Guyana that will be unfolding over the course of the next few years,” he said.
Meanwhile, the Government has been working to accomplish its 2020 budget plans.
Dr Singh said, “quite a lot of progress has been made in implementing; most of the policy measures have been implemented. You’ve seen like the VAT on electricity and water and so on. Those things have already been implemented.”
The Minister outlined that the execution of various projects in the budget remains.
“The president has given all of us a mandate that has been very clear, that he would like all of the projects in the budget to be executed in a timely manner. With the mandate that has been given, to me and the rest of my colleagues in the Cabinet, I’ve been working with the various sectors to ensure they proceed with execution as quickly as possible, as rapidly as possible,” Dr Singh said.
Budget 2020, presented on September 9, by Public Works Minister, Hon. Bishop Juan Edghill reversed onerous taxes and fees implemented during the past five years.