Monday, February 16, 2009
Guyana Finance Dr. Ashni Singh unveiled the country budget for a record amount of US$630 million (GUY$128.9 billion). This amount represents an 8.1 per cent increase over the 2008 budget of US$587 million.
The Minister commented on the global economic situation and stated that the Bharrat Jagdeo administration remained firmly focused on a "policy mix" that would maintain macroeconomic stability in the short to medium term. He emphasized that the road ahead would not be easy for small vulnerable economies such as Guyana's. However he stated that he had no doubt "Guyana would emerge from this global economic crisis a stronger people and a stronger Guyana."
The budget was presented under the theme, 'Working Together Reinforcing Resilience". He noted that history was replete with lessons of the resilience and resourcefulness of Guyanese.
The Government is projecting modest growth this year based on a downturn in activity in key sectors such as agriculture, mining and quarrying.
Meanwhile, leader of the main parliamentary opposition People's National Congress Reform (PNCR), Robert Corbin, cast doubt on whether the Bharrat Jagdeo administration would be able to achieve many of the plans it outlined in the finance package.
"I did not get the opportunity to examine the budget in detail. I just heard what he [Singh] said here in Parliament, but based on that I don't think it is realistic . I wish it were possible . It's not possible," Corbin told reporters.