‘Election Budget’ to be announced on Monday - Corbin

‘Election Budget’ to be announced on Monday – Corbin

Jan 15, 2011 News

On Monday, Minister of Finance Dr Ashni Singh will present to the nation the Budget which will detail the current and capital expenditures for this year. But that document has already been denounced by Opposition Leader Robert Corbin as an ‘Election Budget.’
Corbin, during his press briefing on Thursday, said that the budget will be used as a ploy by the administration to fool the people into thinking that the government is really working in their interest.
He drew reference to recent supplementary provisions sought at the end of the year to be expended early this year, pointing out that Linden has been neglected for several years, Now with elections imminent, the administration is seeking to build some roads in the depressed community.
Corbin posited that this is an attempt to hoodwink the people of Linden but said that the people are smarter than that and will not be fooled
Dr. Singh recently announced that he will be presenting the National Budget for 2011 to the National Assembly on Monday.
The Minister indicated that, as is the norm, the Budget will report on economic performances over the past year and, in this instance, that report can be expected to be a very favourable one given the continued resilience shown by the economy.
The Budget is also expected to project continued strong performance by the domestic economy in 2011, and to reflect Government’s continued emphasis on investment in physical infrastructure and in expanding and improving social services, all with the aim of advancing the transformation that is already well underway in Guyana.
Budget 2010 was presented by Minister Singh in February last under the theme “Consolidate, Transform, Sustain”, and was pegged at $142.8B, representing a 10.8 percent increase over the 2009 budget.
In his 2010 mid-year report on the economy, Dr Singh reported that the economy recorded real growth of 2.8 percent in the first half of the year, with non-sugar gross domestic product expanding by 3.1 percent.
“This very positive result was achieved despite persistent difficulties in the sugar industry, continued adverse movement in commodity prices, and the effects of the sliding Euro.”
Dr Singh also stated in the 2010 mid-year report that the domestic economy’s favourable performance demonstrated the strong underlying fundamentals on which the economy rests, and reflects gains made over the years as a result of Government’s efforts at diversifying the sources of growth.

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