News

Guyana: Budget close to $300B

hike in pension, measures to spur ‘green’ economy likely 
minister to make projections for oil economy

BUDGET 2019 to be presented today is likely to be the biggest ever coming close to $300B and will include increases in Old Age Pension and Public Assistance along with measures to further drive Guyana’s Green State Development Strategy (GSDS).
The 2018 budget was set at $267B.

The Guyana Chronicle also understands that the multi-billion-dollar budget will take into account the emerging oil-and-gas sector as Guyana gears up for production in early 2020.
Today’s presentation will serve as the government’s forecast of its expenditures and revenues for 2019 and will be introduced in the National Assembly by Minister of Finance Winston Jordan.

It is themed ‘Transforming the Economy, Empowering People, Building Sustainable Communities for the Good Life’ and will come in contrast to the $267.1B 2018 Budget , a 7.1 per cent increase of the revised Budget 2017.

Jordan, in an interview with the Department of Public Information (DPI) last week, had announced: “Today, old age pension stands at $19,500 and will be increased again, in the upcoming budget.”

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