$25.9B in supplementary funding approved to advance govt’s development agenda 


The National Assembly on Tuesday night approved $25.9 billion in supplementary funding to help the  government advance its development agenda.

The sum is  expected to complement work ongoing through the $781.9 billion 2023 National Budget and the previously approved $31 billion and $61 billion in supplemental funding sought before.

See below full release from the Ministry of Finance: 

The National Assembly today, during its 70th Sittingand following extensive debate, approved a $25.9 Billion Supplementary Bill which was successfully piloted in the House bySenior Finance Minister Dr. Ashni Singh.

The Supplementary papers presented on December 11 during the 69th Sitting of the National Aseembly,provide for an acceleration and expansion of developmental programmes across a wide range of sectors as Government continues to keep its promises to citizens to improve their lives and ensure that Guyana’s landscape is transformed at a fastpace.

The $25.9 Billion Appropriation Bill comprised Financial Paper No 4 of 2023 relating to Contingency Fund advances on the Current and Capital Estimates for the period October 1, 2023 to December 8, 2023andFinancial Paper No. 5 of 2023 forSupplementary Funding forexpanded work programmes for the period ending December 31, 2023.

Financial Paper 4 caters for over $1.9 Billion in Contingency Fund advances for various agencies, including the Ministries of Foreign Affairs and International Cooperation, Home Affairs, Agriculture and Education with $643 Million to support operational costs of the Guyana Sugar Corporation (GUYSUCO) and additional costs with respect to the provisión of security for a number of regions

Financial Paper No. 5caters for over $12.3 Billion for the agriculture sector including provisions for subsidies and contributions in local organizations andadditional resources for the National Drainage and Irrigation Authority to execute drainage and irrigation worksaimed atmitigating the effects El Nino hashad on Guyana’s agricultural sector. Farmers have been demanding additional support to protect and boost the productivity of their crops and livestock and Government had committed to providing this support. It would be recalled as well that in November last, President Ali had indicated that as part of the $5 Billion cost of living allocation, $850 Million would be used for the acquisition of fertilizer to be distributed to the farmers.

Further, the Bill provides for over $1 Billion under the Ministry of Public Works for maintenance of roads, procurement of equipment and for the Transport and Harbours Department with the country continuing to undergo massive infrastructure transformation.

In terms of the health sector $3.9 Billion has been provided largely to support the rollout of healthcare infrastructure with $3.3 Billion for the construction of the New Amsterdam Regional Hospital, which adds to the suite of several new hospitals as part of Government’s broader agenda to modernize the health care system.

Under the education sector over $530.6 Million is provided for additional inflows under the Caribbean Development Bank loan for the skills development and employability project.

Under the Ministry of Home Affairs, over $3.9 Billion is provided for various initiatives including $2.8 Billion to boost the firefighting capabilities of the Guyana Fire Service including their operations in hinterland and outlying areas. Additionally, $1.3 Billion is provided for the Guyana Defence Force for defence and security support while under the Regional Development programme, more than $527 Million is catered for to boost a number of development programmes in Regions 1, 6, 7, 8 and 9.

Under the Office of the Prime Minister, supplementary provisions include more than $188 Million for additional resources to support the Linden Electricity Company Incorporated to sustain Ituni’s operation, the Mahdia Power and Light Inc. and Kwakwani Utilities, as well as for additional inflows under the Government of India’s supported Line of Credit due to an acceleration in the delivery of solar photovoltaic systems.

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