At its next sitting, the National Assembly is expected to consider a Financial paper presented by Finance Minister Dr. Ashni Singh seeking supplementary provisions of $44.7B
The request for supplementary funding is coming less than six months after the Government presented its $552.9 Billion budget, which was the largest budget in the country’s history and represents an almost 50% increase over the previous year’s budget.
According to the financial paper, the Government is seeking an additional $3.4B for the cash-strapped Guyana Sugar Corporation.
Earlier this year, GUYSUCO received $6 Billion in the 2022 budget. But the government now wants $1.4 Billion for additional resources to support the sugar industry and a further $2 Billion to cover operational expenses.
During yesterday’s sitting of the National Assembly, several opposition speakers knocked on the government’s move for supplementary provisions noting that it shows poor planning and management on the part of the government when they have to return to the house five months after a budget to seek additional provision.
The Opposition has accused the government of only calling for the National Assembly to meet when it wants money.
The government has defended its move for the supplementary budget that further developmental works need to be done.
An additional $3 Billion has now been budgeted for hinterland development, while the Ministry of Housing and Water is seeking an additional $21 Billion. Additional money is also being sought for other Government Ministries including the Ministry of Education.