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Early budgets, more measures to improve private sector and labour among notable achievements – Finance Minister
Since being appointed Minister of Finance in 2015, economist Winston Jordan says that there are a number of achievements of which he is proud.
During an interview with Kaieteur News, he said that restoring an early budget to the National parliamentary agenda and being able to afford budget agencies a full 12 months for implementation of the national budget rank high on the list.
Finance Minister, Winston Jordan
In addition, the Finance Minister said that the legislative agenda that he tabled in the Parliament for the financial sector and the public finance reform initiatives, most importantly the Natural Resource Fund Legislation (NRF), are particularly high on the list of accomplishments too.
“As far as I am aware, we are the first country to put NRF legislation in place ahead of first oil,” expressed Jordan.
“I have also prioritized within my Ministry, capacity building for staff to ensure we build a cadre of competent technical (and administrative) professionals who are able to provide sound technical advice on the range of matters that fall within the Ministry of Finance’s remit. And we have established good working relationships with the private sector that sees us sitting for hours together, each month, discussing ideas and solutions to boost competitiveness and enhance production.
“I am also proud of the fact that as Minister of Finance, I have implemented more measures aimed at improving private sector and labour than any other Minister of Finance at the similar period in Office; have kept the economy on a growth path, in the context of negligible inflation, and manageable debt and fiscal deficit. All of this accomplished within a fiscal space that was narrowed by the reckless expenditure of the previous administration in projects such as Skeldon Estate, Marriott Hotel, Berbice Bridge – not forgetting the CLICO debacle and the payment of costly inherited court decisions.”
Jordan added that there are still more reforms that are needed to ensure more effective public financial management.
In this regard, the Finance Minister stated, “We want results based performance and for every sector to be results-driven and for service delivery across central government to be effective and efficient. That will require greater investments in human capital as well as infrastructure across every region of this country.”
Further to this, the Finance Minister said that he wants to drive a professional public service that is accountable. He concluded, “We would still like to pay better wages we are working to create the fiscal space by ensuring that our public enterprises do not continue to drain the public coffers.”
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