Government seeking another $47B in supplementary funding, pushing this year’s budget to approximately $642 billion

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Senior Minister within the Office of the President with responsibility for Finance Dr. Ashni Singh

Three months following the passage of a $44.8B supplementary budget to further accelerate its major developmental initiatives countrywide, the Irfaan Ali-led administration has returned to the National Assembly to request a further $47B in additional funds to cover the costs of electricity. 

Financial Paper 3 of 2022 which seeks additional funding was tabled in the National Assembly on Wednesday by Senior Minister with responsibility for Finance, Dr Ashni Singh at the Arthur Chung Conference Centre (ACCC).

As per the Government’s proposal, $6.6 billion will provide resources for electricity to the Guyana Power & Light (GPL). 

Further, $18 billion will be set aside to upgrade roads and bridges along the Linden to Lethem route and other parts of the country. 

Provisions have also been made for agencies including the Ministry of Home Affairs, the Ministry of Human Services and Social Security, and the Guyana Office for Investment (GO-Invest) in the supplementary budget. 

In August cabinet approved $44.8B in supplementary funding six months after the largest national budget in the history of Guyana totalling $552.9B was passed.

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