Senior Minister with responsibility for Finance Dr Ashni Singh today announced that the local economy grew by 19.9% in 2021, largely due to the country’s oil and gas sector.
He made the announcement during his presentation of Budget 2022 under the theme “Steadfast Against All Challenges, Resolute in Building Our One Guyana”.
The presentation is ongoing at the Arthur Chung Conference Centre (ACCC).
This is the third budget being presented by the Dr Irfaan Ali-led administration since its assumption to office in August 2020.
According to Dr Singh, this budget will build on the foundations set by the previous budgets.
In this regard, he said Budget 2022 will facilitate the most rapid period of transformation and modernisation ever witnessed in Guyana’s history.
Budget 2022 will include measures for massive investments in infrastructure that will “change the face of our country forever”, the Finance Minister noted. In addition, he said it will see the opening up of new communities as well as the linkages of others.
Dr Singh also explained that Budget 2022 will lay the basis for thousands of “rewarding jobs” to be created for locals, especially by leveraging the local content opportunities that are now being created.
He said Budget 2022 has two main goals: to ensure the urgent development needs of the country are met in the shortest possible time and to guarantee the long-term economic wellbeing of the nation.
