THE Government of Guyana has made its fifth withdrawal from the Natural Resource Fund in accordance with the Natural Resource Fund (NRF) Act 2021.
The Ministry of Finance, in a press release on Friday, revealed that the government, in pursuant to section 16 of the NRF Act 2021, has withdrawn a further US$50 million from the NRF in September, equivalent to G$10.4 billion.

It would be recalled that, in August and September, amounts totalling US$200 million, equivalent to G$41.6 billion had been transferred from the Natural Resource Fund to the Consolidated Fund to finance national development priorities and, in February and May of this year, the Government made withdrawals amounting to US$400 million equivalent to G$83.2 billion.
According to the ministry, this brings the accumulated withdrawals from the NRF for the year 2023 to US$650 million, equivalent to G$135.2 billion.

In keeping with the NRF Act 2021, as part of the Budget 2023 process, Parliamentary approval was granted for a total of US$1.002 billion to be transferred during fiscal year 2023.
The ministry said the Government will continue to work aggressively through sound and transformative investments of oil resources from the NRF, utilising these resources clearly and transparently to benefit present and future generations.