THE 2010 Budget debate kicks off on Monday, and Cabinet has endorsed those arrangements adapted for the entire period of the debate. This is according to Head of the Presidential Secretariat (HPS) Dr. Roger Luncheon yesterday at his weekly post-Cabinet press briefing at the Office of the President, Shiv Chanderpaul Drive, Georgetown.
Minister of Finance, Dr. Ashni Singh last Monday unveiled the largest budget ever – a $142.8B budget before the National Assembly under the theme “Consolidate, Transform, Sustain”.
Dr. Luncheon said Cabinet also endorsed the subsequent deliberations at the committee of supply where the estimates for 2010 would be considered and adopted.
Dr. Luncheon disclosed that Cabinet members committed to presenting the Guyanese people with the 2010 resolutions made by the administration namely to ensure greater accountability; to ensure value for money; and to promote greater Government effectiveness, particularly, in dealing with the public.
He said governmental sector outreaches, cabinet outreaches, and media publicity would all be resorted to in order to bring the merits of the 2010 budget to the attention of the Guyanese population.
The 2010 Budget sets stage for continued economic growth, and is 10.8 percent higher than last year’s — making it Guyana’s largest budget ever with no new taxes required for its financing.
Dr. Singh in his budget presentation reported a fourth year of consecutive growth despite recessionary conditions near and far and uncertain prices in the commodity markets.
In a 64-page presentation in the National Assembly, he said: “Our rice sector returned its highest production in 10 years and its second highest production of all time. Our gold mining sector returned its highest production ever, if the large scale operations of Omai are excluded.
“We achieved a strong balance of payments surplus, in the process accumulating our highest level of external reserves ever. Our currency appreciated in value for the first time in 15 years. Inflation was at its lowest in 8 years. And, we reduced our fiscal deficit to its lowest in 10 years.”
Recapping other significant achievements last year that have laid the foundations for continuing economic growth, he noted the commissioning of Guyana’s first international bridge at Takutu which has opened new conversations and vistas of opportunity with Brazil, the certification of the second international airport at Ogle, and inaugurated scheduled international flights to Suriname and the switching on a new 20.7 megawatt power plant in Kingston, Georgetown, the first major expansion in generating capacity installed in 12 years.
“We opened new hospitals in Lethem, Linden, Mabaruma and Port Mourant; new schools in Hope and No. 8 Village; and a new well in Grove/Diamond. We graduated 491 new teachers, added 66 recently returned young Guyanese doctors to the public healthcare system, and trained over 1,700 vulnerable youths.
“We enriched the body of our laws with major new enactments, on subjects ranging from strengthening the financial sector such as by fighting money laundering on the one hand, to safeguarding the most vulnerable in society such as by providing for the status adoption, and protection of children on the other”, he said.
Singh added: “These are but some examples of developments which, taken individually or in totality, would lead one to the inescapable conclusion that there has been progress in our country.”
But he called for vigilance arguing that while the evidence of progress is plenty, the risk of reversal is never distant, and the remainder of the work is certainly not complete.
“We must, as a nation, never be complacent about the gains we have made. Instead, we must be unwavering in our resolve, unapologetic in our steadfastness, and united in our efforts to secure and build upon these gains.”
Singh reported that the economy grew by 2.3 percent in 2009, somewhat more modest than the 3.1 percent growth achieved in 2008, but nevertheless a fourth consecutive year of positive growth since the floods of 2005, and non-sugar gross domestic product grew by 2.2 percent in 2009.
He noted too that in the global and regional context, this sustained domestic performance is demonstrative of the increasingly strong fundamentals on which the economy now rests.