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$1.3B budgeted to expand fisheries sector

Jan 21, 2025 News

Kaieteur News-The Fishing and Aquaculture subsector under the Ministry of Agriculture was allotted $1.3B of the $104.6 billion allocated to the Ministry in the national budget for 2025.

Minister of Finance, Dr. Ashni Singh, told the National Assembly that last year the sector recorded an estimated expansion of 1%. This was attributed to the growth that occurred in both the marine and aquaculture production. However, this year the sector’s growth is “expected to strengthen to 5.8 per cent, driven largely by increased aquaculture production.”

To this end, he informed that “a further $1.3 billion is budgeted for 2025 to support fisheries and aquaculture development.”

For 2024, the production of shrimp expanded by an estimated 8.5%, outweighing the 2.2% contraction that was estimated for the production of fish. “While improvements were observed in the production of artisanal and industrial finfish, the production of red snapper contracted,” the Minister said.

($1.3B budgeted to expand fisheries sector)

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