Guyana records strong fiscal performance with improved fund balance and cash management

The 2024 Auditor General’s Report confirms ongoing progress in Guyana’s financial management, with the Consolidated Fund ending the year with a positive balance of $35.879 billion, up from $30.187 billion in 2023.

The report states that the Consolidated Fund account was reconciled monthly throughout the year in accordance with the Financial Management and Accountability Act, demonstrating improved fiscal discipline and accountability in managing public finances.

In addition, the Auditor General reported that total government bank balances increased by $40.5 billion, rising from $95.951 billion in 2023 to $136.922 billion in 2024. The report states that this growth reflects stronger liquidity, careful financial planning, and improved overall cash management across government ministries and departments.

The Ministry of Finance, in its response, stated that efforts to close inactive accounts and transfer their balances into the Consolidated Fund are ongoing and nearing completion. This process, the Ministry noted, forms part of a broader strategy to streamline public accounts and enhance financial control.

Overall, the Auditor General’s findings present a positive fiscal outlook for the country, highlighting strengthened financial systems, more efficient fund management, and improved transparency in the stewardship of national resources.