Month: November 2018

27 Nov
By: Tanika Jones 2

Budget 2019 Speech

Introduction

Mr. Speaker, I rise to move the motion for the approval of the Estimates of the Public Sector and the Budget for the Financial Year 2019, and in doing so, I wish to indicate that Cabinet has recommended that the National Assembly proceed upon this motion, pursuant to Article 171 Paragraph 2 of the Constitution of the Co-operative Republic of Guyana.

Mr. Speaker, it is my distinct honour to be able to deliver Budget 2019, the fifth and penultimate budget of this Administration’s first term in Government. Today presents us with yet another opportunity to highlight our successes and achievements as a Government – a Government that is dedicated to the overall improvement in the quality of life of our people, as represented by a budget that guarantees equality and inclusivity in resource allocation for all Guyanese. Also, Mr. Speaker, this budget is the third to be presented to this House before the start of the Financial Year. The benefits of these early presentations have been evident in the ability of managers to execute their projects and programmes over the twelve month planning horizon, instead of the truncated year that had become the norm in the not too distant past.

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Budget 2019 Speech

 

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23 Nov
By: Tanika Jones 0

Public Debt Annual Report 2017

In 2017, the world economy achieved better-than-expected results, following the U.S. tax policy reform and notable improvements that were observed in Europe and Asia. At the same time, accommodating commodity prices and better financial conditions sustained economic expansion in the Latin American and Caribbean region. In face of this global expansion, the Guyanese economy did not meet the expected growth, due to weaker-than-anticipated performances in the mining and quarrying and construction sectors as well as sugar and livestock. These were sufficiently large to offset better-than-projected growth in the other agriculture, fishing and forestry, manufacturing, and services sectors. The real economy grew by 2.1 percent in 2017, slightly below the 3.3 percent achieved in 2016. The risks noted in the 2018 Budget Speech—unpredictable commodity prices, climate change and international financial market disruptions—remain relevant since they have the ability to derail growth projections.

Public Debt 2017
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21 Nov
19 Nov
By: Tanika Jones 6

Guyana Natural Resources Fund Bill 2018

Natural Resources Fund Bill 2018
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09 Nov
03 Nov
By: Tanika Jones 0

IsDB concludes Mission to Guyana

The Ministry of Finance has just completed the successful hosting of a Programming Mission by the Islamic Development Bank (IsDB) to Guyana that will soon realise deeper ties between the two countries as they seek to identify projects to accelerate Guyana’s development.

The Mission which concluded on Friday, November 2, 2018 saw three intense days of meetings between a team of officials from the IsDB led by Dr. Sobir Komilov – Regional Manager for Latin America and the Caribbean; and included Mr. Saifulla Abid –Senior Country Manager for Guyana IsDB; Mr. Hamady Soma Ba – Relationship Manager from the International Islamic Trade Financing Department (ITFC) and Mr. Ahmed A Khalid – Regional Head (Asia) of the Islamic Corporation for the Development of the Private Sector (IFC) and representatives from the Public and Private Sectors.

The Mission aimed at developing a pipeline of potential projects for the medium term 2019 – 2021 that would inform the work programme of the IsDB; discussions were focused therefore, on identifying projects and programmes that seem most likely to have the greatest development impact in Guyana.

It was coordinated by the Ministries of Finance and Business under the guidance of the Hon. Winston Jordan, Minister of Finance and Governor for Guyana at the IsDB. Discussions were held with the Ministries of Public Health, Education, Agriculture, Public Infrastructure, Communities, Social Protection, GoInvest, the Georgetown Chamber of Commerce, and several Commercial Banks.

The challenges and opportunities to advance Guyana’s development agenda were explored and priorities for action identified. Health Care, Waste water treatment, renewable energy, TVET, housing and infrastructure were among the areas identified for initial consideration in 2019.

To close the mission, an aide memoir was signed between the Government of Guyana and the IsDB Group with both sides agreeing to continue collaborating on the development of the country.

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