Finance Minister defends $300M allocation for Jubilee celebrations …says one needs to spend money in order to make money

Finance Minister Winston Jordan today declared that the $300M budgeted by Government for Guyana’s 50^th Independence Anniversary celebrations is a paltry sum in comparison to what other countries would spend behind such an event.

He posited that the decision to spend $300M on the events in observance of the country’s 50^th Independence Anniversary in May this year will have a “multiplying” effect that would see monies being pumped into Guyana’s economy.

According to Minister Jordan “every government spending” will have a multiplying effect, and although at this point in time he is unable to pronounce on the figure that would be reeled in from the $300M ‘investment’, it would assist the country tremendously.

He emphasised that with the upcoming celebrations, many tourists will be visiting Guyana and overseas based Guyanese will be returning home hence new flights have been introduced for this period.

The Finance Minister added that one needs to spend money in order to make money and that the country’s 50^th Independence Anniversary is an opportune time for such a move.

The Opposition PPP/C had criticised the Government for allocating this “huge” sum of money to the country’s Jubilee celebrations, stating that there is no need for such a move at this time considering the fact that there are more important areas of national development which focus should be placed on.