| For the first time in decades, Guyana will have its Budget Day way before the new year begins. Originally scheduled for December 5th, that date has been brought forward by a week.House Speaker,Dr. Barton ScotlandAccording to House Speaker, Dr. Barton Scotland, in a paid advertisement – The Parliament Corner – published in Kaieteur News yesterday, the new date is now November 28.“This means the Minister of Finance will lay the Estimates of Revenues and Expenditure for the financial year 2017 before the National Assembly and he will make his Annual Financial Statement or Budget Speech.”According to the Speaker, in a recap of what the House is expected to do, at the conclusion of the budget presentation by the Finance Minister, Winston Jordan, the House will be adjourned.“Following this, the Standing Orders provide for a maximum of five additional days of debate on the budget motion and any proposed amendments. Debate on the budget motion has precedence over all other Government Orders. No other government business may be considered during a sitting in which the House debates the budget motion, unless the proceedings on it are completed.”The assembly has seven days for consideration of the Estimates of Expenditure in the Committee of Supply, before it comes to the main floor for passage.In the past, budget presentation is not unknown to be presented about two or three months after the new year breaks. The coalition administration had vowed last year to present the budget earlier, as late passage has implications on spending and the award of state contracts.The November 28th date would mean that probably for the first time, in decades, two budget speeches would be presented by the Government in one year.With a tough last few months, amidst low world prices for commodities,Cheap NFL Jerseys China, with the exception of gold, citizens will be paying close attention to the budget.Of importance will be the measures announced by Government to jumpstart an economy which has slowed down.With its neighbours facing deep financial and political problems, Guyana has steered clear of the pitfalls, but consumer spending has seen a major drop, with a number of businesses saying that commerce has slowed at leastFinance Minister Winston Jordan will come to the House one week earlier – on November 28 – to deliver the 2017 Budget Speech.20 percent.Last month, President David Granger during the reconvening of Parliament had signalled that the coming budget will focus on fiscal, environmental and institutional sustainability.He had stressed then that the Government had adopted the 2030 Agenda for Sustainable Development, of which the 17 Sustainable Development Goals (SDGs) are compatible with Guyana’s social agenda.The President said that the 2017 National Budget will reflect the harmonization of the SDGs with Government’s national development plans, particularly in the social sector. The Head of State said that the preparation of this Budget started several months ago and has been characterised by an inclusive and consultative process.”It will be designed around a results-based format. It will be guided by the objectives of fiscal sustainability, institutional sustainability and environmental sustainability.”The President stated that budget measures will include renewable energy generation and improved energy efficiency which he deemed to be key initiatives of Government’s green agenda.Granger said that Guyana’s future is linked to renewable energy generation and increased use of energy-efficient technologies.”We will graduate our economy increasingly towards greater renewable energy use across all sectors of Guyana. Government buildings will be powered, eventually, by renewable energy sources and will utilize energy-efficient technologies. Incentives will be offered to the private sector to follow the government’s lead.”Additionally, the President said that the 2017 National Budget will include measures aimed at developing a more diversified and climate-resilient agricultural sector.He said that the Government will promote agricultural expansion further inland by introducing mega farms in the Intermediate and Rupununi savannahs; promote the expansion of non-traditional agricultural production such as coconuts, fruits and spices; and promote the increase of aromatic rice production, which will add to crop production in the rice sector at a higher end of the value chain. |
