Running Guyana will cost $5B more this year

Apr 02, 2013 News

It will cost Government $5B more this year to run the country with labour costs taking a significant chunk.
Last year, Government spent $118M to repair roads, pay public servants, run schools, and buy drugs, among other things. In its budgets estimate of current expenditure, it will require, this year, $123.18B.
Total employment costs, for contract employees, administrative and other staffers, will increase from 2011’s $104.6B to $108.6B.
The cost to hire contract employees will increase from $6.2B to $7.8B.
Government mandatory contributions to the National Insurance Scheme as an employer will rise from $1.4B to $1.5B.
This year, to buy drugs for the Georgetown Public Hospital Corporation (GPHC) and the Ministry of Health, some $4.77B has been allocated as against the $4.5B last year.
Maintenance of roads and bridges, drainage and irrigation, sea and river defenses and other infrastructure is set to increase from $2.31B last year to $2.40 this year.
Government will also pay $1.39B for local travel and subsistence- $233M more than 2011.
Utility charges are also expected to go up by about $479M to $7.47B.
Last year, to protect its properties, Government doled out $1.9B. This will increase by $373M.
Dietary supplies, in all likelihood including part of the feeding programme for schools, will cost $673M more than 2011 or $3.4B.
Last year, a hefty $24.4B was given as subsidies and contributions to local organizations. This has been reduced to $16B this year.
One of the biggest costs this year will be pension payments including to non-pensionable employees, increases and old age pension and social assistance. Last year, $7.4B was paid out. This year, $10.3B has been budgeted.

Discover more from Kaieteur News

Subscribe to get the latest posts sent to your email.

Latest News