PRESIDENT Donald Ramotar has indicated that he has instructed Finance Minister Dr Ashni Singh to hold extensive consultations on the national budget for this year, which is expected to be presented sometime next month.
This disclosure was made by the President yesterday at his first press conference for this year which was held

at Office of the President, Shiv Chanderpaul Drive, Georgetown.
The Head of State said he is hoping that these budget consultations, which will include the opposition parliamentary parties, will result in a national budget that is acceptable to all parties.
He is hoping too that the consultations could be conducted in an expeditious manner.
Touching on the issue of tax reforms, the President said the process was delayed due to the illness of one of the members of the panel. However, he said that originally it was intended to focus on VAT, which seemed to be the major concern but it has been found there is need for a broader study of the taxation system before there could be any reform.

NATIONAL ECONOMY
Mr. Ramotar said that the national economy is continuing on an upward path, showing a growth rate of about four percent for last year. This, he said, is good in the context of what is happening on the financial front internationally.
What is notable, he pointed out, is that several new areas have contributed to this robust growth of the economy. The President observed that while the traditional sectors of rice, sugar and bauxite continue to significantly contribute to the economy, mining and tourism have also made significant inputs. This, he said, shows that the base of the economy is being broadened which is helping it to be more immune from external financial shocks.
Nevertheless, the Guyanese Head of State expressed a bit of disappointment at the performance of the sugar industry which has a large stake in the economy.
He assured that the government is persistently working towards the right environment to ensure social and economic upliftment of the country, stressing that he is putting all his energies on the developmental thrust.