National Budget 2023 to drive investment and social sustainability

Senior Minister in the Office of the President with responsibility for Finance, Dr. Ashni Singh, today presented the 2023 fiscal package to the National Assembly. This package is underscored by a number of direct and peripheral measures centred on private investment and trade facilitation, job creation, and targeted skills training. The 2023 budget follows the notion of the ‘One Guyana’ initiative developed by His Excellency Dr. Mohamed Irfaan Ali, to which this philosophy identifies harmony among Guyanese, and equity in the nation’s continuous improvement. According to Minister Dr. Ashni Singh, “The fact that we are all united around the common cause of advancing and developing our country, and the fact that we must all participate in and benefit from the exciting and incredibly exciting transformation that is taking place, and that even more so will continue to take place in the future in this beautiful country of ours.” Further, it was assured that the Government of Guyana retains focus on the non-oil economy, simultaneously building the resilience of the booming energy sector. While the most recent indicator of economic growth for Guyana in 2022 demonstrates a 62.3 per cent figure, Guyana is shielding against the possibility of recession in 2023, as sugar, rice and metal commodity prices are expected to decline. Moreover, global growth in 2023 is estimated at 1.7 percent, advanced economies at a growth rate of 0.5 percent, and a steady pace for developing economies at 3.4 percent.

Source(Department of Public Information , Newsroom)

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16 Jan 2023 17:45 | by anaraine

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