Parliament approves $1.8B in additional funds for key ministries

The content originally appeared on: INews Guyana
Senior Minister in the Office of the President with Responsibility for Finance, Dr Ashni Singh

Guyana’s economic transformation drive gains momentum with the National Assembly’s approval of $1.8 billion in additional funds for government ministries. This boost, channelled through the Contingency Fund, aims to strengthen operations across various sectors and improve the lives of citizens.

Among the beneficiaries are key ministries such as Foreign Affairs, Home Affairs, Agriculture, and Education. A significant amount, $643 million, goes to the Guyana Sugar Corporation (GuySuCo) to bolster its operational needs. Additionally, increased security expenses for several administrative regions are covered.

This approval, granted at the 70th Sitting of the National Assembly on Tuesday, reflects the government’s commitment to strategic interventions across all sectors. The funds address immediate needs arising from October 1, 2023, to December 8, 2023, ensuring continued progress towards a thriving economy.

The Supplementary Appropriation Bill valuing $25.9 billion which comprised Financial Papers No.4 and 5 were presented.

For the Ministry of Foreign Affairs and International Cooperation, the sum of $382.4 million was approved for the development of foreign policy under subsidies and contributions to international organisations. The voted provision for the ministry is $857.5 million.

Under the education sector, the sum of $20 million for national and other events was approved by the Committee.

While providing a detailed explanation of the sums approved, Minister of Education, Priya Manickchand explained that the $20 million was expended to host the region’s governance meeting and awards ceremony in Guyana.

Funds were also expended for the provision of additional furniture and equipment for schools such as the Zeelugt and Arthurville Primary schools.

A total of $24 million was approved for the Ministry of Home Affairs.