Budget 2022 an economic ‘booster shot’ – Reg. 3 Business Chamber

After the presentation of the 2022 National Budget on Wednesday, the Region Chamber of Commerce and Industry (R3CCI) believes that this budget is expected to provide much-needed relief to local businesses and households.

See below the full statement from Premendra Parsan, the President of the R3CCI:

The Region Three (Essequibo Islands-West Demerara) Chambers of Commerce and Industry (R3CCI) welcomes Guyana’s economic ‘Booster Shot’ (Budget 2022) announced by the Senior Minister with responsibilities for finance under the Office of the President, honorable Dr. Ashni Kumar Singh. R3CCI commends the Senior Minister for a remarkable job in presenting the historic growth-focused budget that will advance Guyana’s transformation and modernization.

The plans and programmes will maintain Guyana’s economic growth and minimize the impact of the ongoing COVID-19 pandemic on the economy and extend important lifelines to families and businesses. Importantly, the tax measures announced are expected to not only provide needed relief to local businesses and households that confronted severe financial challenges during the past year, but they will increase the competitiveness of local companies, assist in improving business prospects, and consequently generate more jobs for Guyanese nationals.

R3CCI remains encouraged by the Government’s sustained interest in the development of the justice, transport, health, youth, education, infrastructural and agricultural sectors R3CCI is particularly pleased to note the government’s plan to inject 300M into the Small Business Development Fund which would enhance the capacity of small businesses to capitalize on available opportunities and be an economic driver by creating jobs, providing goods and services, and facilitating commerce. It is an excellent opportunity to build local capacity and create communities of opportunity