THE sports sector is set to see the government invest at least $4.6B, according to Finance Minister Dr. Ashni Singh during the 2024 Budget presentation on Monday in the National Assembly.

It is a $300M increase from the budgeted $4.3B in 2023, which also saw $500M in supplementary funds approved in August 2023.

The Finance Minister noted that through the Ministry of Culture, Youth and Sport, they would continue the construction of multi-purpose sports halls in Regions One, Three, Seven, Eight, and Nine, as well as multi-purpose sports facilities in Regions Two and 10, for which purpose of $957M has been allocated in Budget 2024.

Reflecting on 2023, the Minister highlighted strategic partnerships with international and corporate partners that have seen them commence construction of an international stadium at Palmyra, Region Six.

To the tune of G$77M, the synthetic surface at the National Track and Field facility, West Coast Demerara, was resurfaced, and they completed laying the synthetic material at the track at Bayroc, Linden.

The track in Region Six is expected to be completed this year.

Additionally, the installation of “international standard floodlights” was done at the Anna Regina Multipurpose facility, Uitvlugt Community Ground, and at the synthetic tracks in Regions Six and 10, while installation at Bayroc will be completed in 2024.

Furthermore, Dr. Singh alluded to a critical government project, nationwide ground enhancement, and explained that they expended $1.2B on over 250 grounds across all regions in 2023.
A further $1B has been allocated to continue this work in 2024.

No VAT and Duty

“In recognition of the importance of sports and technology to human and economic development, and in particular to our young people, the Government has been investing significantly in the development of world-class sporting facilities,” the Finance Minister expressed as he noted that the government has removed VAT (Value Added Tax) and duty on sports equipment.