President hints at supplementary spending

Apr 03, 2024 News

President Dr Mohamed Irfaan Ali addressing residents of the Rupununi on Saturday

One month after trillion-dollar budget…

Kaieteur News – Just one month after, government announced its mega $1.146 trillion budget, the Head of State, President Ali, is already hinting at additional supplementary spending.

He made the announcement during an outreach to the Nappi Village in Region Nine (9). According to the President, this obtains since–in light of an extended dry season–the government would have to inject in excess of $100M in the Region.

He told residents during an outreach over the weekend that some $20M in cassava had been provided to the region, in light of the prevailing weather conditions that has decimated the crops in the locale. To this end, he reminded that this expenditure had not been budgeted for. Additionally, he informed residents that given the dire situation, an additional $20M worth of the produce would be shipped into the region to help alleviate the situation.

The President used the occasion to also announce the construction of a cassava refining factory at a cost of another $20M. ““To support you in these villages and to ensure that you have sustainability, excess production, and value-added, without you asking, we are going to install a cassava mill and we will start it within 14 days right here to service these communities around here.” Altogether, taking into account transportation and other logistical expenses, he said the government would be spending an additional $100M in the region–money that had not been catered for in the budget. This, despite the fact, the government had already set aside $7 billion in this year’s Budget for measures aimed at improving the lives of Guyanese, to be determined after consultations with stakeholders.

According to President Ali, the government is in fact gearing to spend over $1 billion in the Rupununi region, exceeding the budget allocation. Additionally, during his Region Nine outreach while meeting with residents in Karaudarnau Village (Deep South Rupununi) and Potarinau Village (South Central Rupununi), the President disclosed the Government’s plans for the present and future development of the region.

He also committed to supplying the villages with water tanks and highlighted the roadways being upgraded.

It should be noted that during his budget presentation in January by the Minister within the Office of the President, with responsibility for Finance, Dr. Ashni Singh, in speaking about the Rupununi, had said, the Government will continue to support the development of its tourism product.

He had also indicated that, “one of our most immediate priorities was to ensure that the resources earned under the original LCDS are deployed for the purposes envisaged. To this end, it would be recalled that our Government moved swiftly to start implementing such programmes including, “support in the sum of US$4 million for the National Toshaos Council’s (NTC’s) capacity to oversee the implementation of projects identified in the Village Sustainability Plans (VSPs) of 242 Amerindian Communities, Villages and Satellites which have already received funding (US$22.5 million) for VSP implementation from Guyana’s historic sale of carbon credits.”

It should be noted that, under Guyana’s Statutes, while the Approved Budget for the Year is withdrawn from the Consolidated Fund, or Treasury, there is provision for accessing the Contingencies Fund, in cases of emergencies and unforeseen circumstances. The $1.146 trillion fiscal plan was presented to the National Assembly on January 15, 2024, under the theme, “Staying the Course: Building Prosperity for All.”

This year’s budget represents a 46.6 percent increase over 2023’s budget which was $789.1B. Despite the increase in revenues to the country, some 40% of the fiscal plan is to be supported by loans, with the remaining 60% to be financed through state revenue.

Government, hints, Nappi Village, spending, supplementary

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