PSC applauds Govt. strategic allocation in $1.146 trillion budget

Jan 17, 2024 News

Kaieteur News – The Private Sector Commission (PSC) has commended the Government of Guyana on the timely delivery and declaration of the Budget 2024, a landmark fiscal plan totalling $1.146 trillion.

PSC said in a release that the budget showcases the government’s commitment to fostering economic growth and development.

The Commission said too that the budget emphasizes strategic allocations to foster key sectors and address fundamental needs. The PSC commended the government for the substantial $97.6 billion allocated to the agriculture sector to invest in drainage and irrigation infrastructure to boost productivity and enhance food security.

“The commitment to infrastructural development is evident with 204.1 billion Guyana dollars allocated for upgrading roads and bridges, reflecting continuous dedication to improving transportation networks and river transport, positively impacting trade and connectivity,” the Commission said.

PSC also commended the allocation in the budget to businesses through measures such as reducing interest rates on loans lower than $5 million and the replenishment of the Small Business Development Fund is crucial for supporting small business growth.

The business body stated that the 2024 budget is a testament of the government’s dedication to fostering economic growth, promoting social development, and ensuring the well-being of all Guyanese citizens. The PSC also said it looks forward to collaborating with the government in realizing these ambitious initiatives and contributing to the continued prosperity of Guyana.

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$1.146 Trillion, allocation, budget, Private Sector Commission (PSC), strategic

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