Category: Reports

09 Sep
By: Tanika Jones 0

Budget Estimates 2020

The purpose of these Estimates is to present to the National Assembly information on the expenditure requirements and revenue forecasts of the Government for the fiscal year and, where required, to seek authority for such expenditure through an Appropriation Act. The authorities identified in these Estimates are divided into two categories: appropriated and statutory. Appropriated authorities are those for which the Government must seek approval from the National Assembly on an annual basis. Statutory authorities, e.g., public debt, are those for which the National Assembly has already provided on an ongoing basis, through the approval granted by specific legislation containing an appropriation authority. These are included in the Estimates for information only.

The basic structure of the Estimates presented to the National Assembly takes the form of three volumes and follows a theme of presenting the initial data at a high level of aggregation followed by more detailed information. Volume 1 is divided into four Sections. Section 1 – The Expenditure and Revenue Plan – summarises the Current and Capital Expenditure requirements of the Central Government, and forecasts of Revenues; Section 2 provides details of the Current Expenditure requirements of each Agency within the Estimates; Section 3 gives details of the Capital Expenditure requirements of each Agency within the Estimates; and Section 4 provides specific macroeconomic data in support of the Budget, selected personnel related data, and the budgets of Statutory Bodies and Constitutional Agencies for the fiscal year. Volume 2 describes the Programme structures, indicators, objectives, strategies and impacts of each Agency as well as summarised financial performance data. Volume 3 provides information on the profiles of projects included in the capital expenditure plan.

Download Volumes:

Volume 1

Budget Estimates 2020 – Volume 1

Volume 2

Budget Estimates 2020 – Volume 2

Volume 3

Budget Estimates 2020 – Volume 3

 

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01 Jul
By: MOF Communications Unit 1

End of Year Outcome 2019

The End of Year Outcome Statement for the year 2019 is being presented as an update to the Mid-Year Report of 2019, instead of the usual update to the end of year projections that would have been included in the 2020 National Budget to Parliament, in November 2019, as part of the established annual budget cycle. As is well-known, this did not happen because of the political situation that unfolded, which necessitated the holding of General and Regional Elections before the due date. In light of those developments, Parliament was dissolved on December 30, 2019, resulting in the postponement of the preparation and presentation of the 2020 National Budget to a date to be determined in 2020. Budget 2019 was presented under the theme “Transforming the Economy, Empowering People, Building Sustainable Communities for the Good Life,” and was the second earliest presentation in the post-Independence history of Guyana.

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14 Aug
By: MOF Communications Unit 1

Mid-Year Report 2019

This report is prepared pursuant to Section 67 of the Fiscal Management and Accountability Act (FMAA) 2003 that prescribes that a mid-year report shall be produced in a manner and format prescribed as follows: “A mid-year report shall include – (a) an update on the current macroeconomic and fiscal situation, a revised economic outlook for the remainder of the fiscal year, and a statement of the projected impact that these trends are likely to have on the annual budget for the current fiscal year; (b) a comparison report on the out-turned current and capital expenditures and revenues with the estimates originally approved by the National Assembly with explanations of any significant variances; and (c) a list of major fiscal risks for the remainder of the fiscal year, together with likely policy responses that the Government proposes to take to meet the expected circumstances.”

Mid-Year Report 2019
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18 Jul
By: MOF Communications Unit 1

Guyana First Voluntary National Review High-level

The undertaking of the First Voluntary National Review has been, as expected, a technical, data-intensive process. Guyana has been and remains committed to evidence-based reporting and results-oriented planning. The VNR process aligns with these commitments and further reinforces the importance of strong data systems and institutions. Notwithstanding the late confirmation of Guyana’s participation at the High Level
Political Forum 2019, the country undertook what should have been a nine to twelve month review process in just under six months. A key consideration in developing the VNR is the desire to comprehensively tell Guyana’s story, supported by as much as data as possible.

The review process began with the development of a data collection tool by the Ministry of Finance which was issued in January 2019, to all Budget Agencies. A high-level VNR workshop was also hosted, in March 2019, which sought to improve awareness, understanding and ownership of the SDG Targets, facilitated technical group discussions on indicators and, ultimately, attempted to accelerate the data collection process required to prepare the VNR. Over the subsequent months, the varying capacities across agencies demanded the Ministry of Finance work closely with the Budget Agencies in one-on-one sessions to assist in various capacities including:

1) understanding some of the SDG Targets

2) self-assessing the relevance of existing data and indicators to the SDG Targets

3) developing new indicators based on existing data sets and

4) advising on areas of future focus for planning.

The VNR process, including stakeholder engagement, was also supported by the Ministry of Foreign Affairs and the Ministry of the Presidency.

First Voluntary National Review High-level

The undertaking of the First Voluntary National Review has been, as expected, a technical, data-intensive process. Guyana has been and remains committed to evidence-based reporting and results-oriented planning. The VNR process aligns with these commitments and further reinforces the importance of strong data systems and institutions. Notwithstanding the late confirmation of Guyana’s participation at the High Level
Political Forum 2019, the country undertook what should have been a nine to twelve month review process in just under six months. A key consideration in developing the VNR is the desire to comprehensively tell Guyana’s story, supported by as much as data as possible.

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03 May
By: MOF Communications Unit 0

The Valuation Division

Who We Are?

The Valuation Division was created in 1959 by an Act of Parliament, “to make provision for the Valuation of Property for Rating Purposes and for matters connected therewith,” Chapter28:04.

It is a department of the Ministry of Finance that works primarily with the Ministry of Communities, specifically Local Government and quasi-governmental departments.

What Do We Do?

Carry out equitable Valuation for Rating purposes throughout Guyana.

Provide Rental & Capital Valuations for other Government and quasi-Government Departments.

Ensure Rating Valuations are conducted in accordance with the Regulations framework. This includes carrying out five yearly assessments and maintaining the Valuation List.

Notify Rate payers of new Valuations through the issuance of Proposals.

Read This Publication To Learn More

 

 

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12 Apr