The National Budget March 22, 2014 - elevating lives and transforming the country A GINA FEATURE A National Budget is defined as the annual financial statement of the country, which sets out in very detailed terms the Government’s financial plans for the period prior to the next budget. And, since it is imperative for the government to have planned the implementation of several policies in the overall task of performing its functions to meet the objectives of socio-economic growth, it therefore means that careful planning and execution of development plans and projects have to be precise, given that very huge amounts of money would have been budgeted.It is well documented that the People’s Progressive Party/Civic (PPP/C) government from its assumption of office, envisaged a socio-economic plan for the growth and development of Guyana, where people would be the main beneficiaries of whatever programmes are executed. This was a grand plan built around two realities – beginning with the fact of a nation that had emerged from almost three decades of dictatorial rule that resulted in the total collapse of virtually all the support socio-economic infrastructure, resulting in very high poverty levels. Secondly, that the development policies must be comprehensive, that would result in the transformative process, ushering in a modern Guyana. To this end, huge budgetary sums have been heavily invested in the social and economic sectors, with exponential increases for the continuation of these people-impacting initiatives. But this could not have been possible without a stable economy, one that has seen consecutive growth for the past eight years. Housing – raising the comfort level Housing can be described as the flagship example of an impressive design that has been total in its impacting change on beneficiaries, increasing their economic stock and social well-being, as well as resulting in massive expansion of the building sector, significantly increased commercial business for the banking sector, and with trickle down benefits for the hardware and house appliance sectors. But this transformation could only have been made possible through the yearly budgetary allocations. It is significant to note that from a nation of squatter settlements that dotted both sides of our coastlands, over 200 housing schemes, have been regularised, with laid out essential infrastructure, at a cost of over $1.5B; modern homes, and community support structures such as schools, police stations, small businesses, and community centres. This was made possible because of a government-inspired land divestment policy that resulted in the distribution of almost 100,000 house lots; a window for low mortgage rate facility offered by commercial banks, due to tax incentives under the Income Tax Act, and amendments to the New Building Society Act. Mortgages can now be accessed from as low as $4.95%, repayable over a 20-year period. Significantly, most of the beneficiaries are low income earners, whose fulfillment of one of life’s main requirements, home ownership, has been realised. Even the Hinterland has been included in this unprecedented national housing programme, under the Second Low Income Settlement Programme, where $200M was allotted for the establishment of structured communities. House lots were also distributed in Regions 7, 8 and 9. Education-opportunities for all Education, it has been said, is key to a nation’s growth and development. But this can only be achieved if there are sustained investments into such sector overtime. The rapid rise in expenditure in this sector has occasioned numerous programmes that have resulted in the gradual overhaul of a system that had once led the English-speaking Caribbean. Receiving the largest slice of the annual budget: 2010 -$21.4B; 2011-$24.3B; 2012-$26.5B; and 2013-$28.7B, this sector has supported a plethora of projects, that include the building and refurbishment of numerous schools in every region; and the construction of technical institutes and vocational schools. Revolutionary teacher training programmes and methodologies have been introduced with a view of producing a better trained educator for the delivery of quality learning in the nation’s classrooms, with the important addition of teachers now being able to pursue the Associate Degree in Education at the Cyril Potter College of Education; and long distance teacher training programmes that target hinterland-based teachers. Continuing this sea-change in this very important sector has been the introduction of Information Communication Technology that has targeted over 3000 teachers for basic training. This technology is expected to be pivotal in education delivery, and has occasioned the construction of dozens of IT labs in 2013. A key element in this sector’s revolution has been the socio-economic innovation of the National School Uniform Programme that benefits approximately 200,000 students annually; and the National School Feeding Programme that caters for 64,000 children at a cost of $1.1B, annually. Today, Guyana is producing the top performers at regional examinations, CSEC. Health -easier access, more services Health, which together with education, can be said to be the cornerstone of a nation’s socio-economic development, has seen monumental changes in virtually every area as pertained to its mission of delivery a better quality of health care to the nation. As the recipient of the second largest slice of the annual estimates: 2011 -$14B; 2012 – $17B; and 2013 – $19.2B, the transformation of the national health sector can only be described as monumental. Primitive, collapsed, and non-existent infrastructure prior to 1992, has since been replaced by new hospitals in all the regions, inclusive of four state-of-the art diagnostic centres, strategically placed so as to alleviate the daily rush of persons on the central system; a new state-of-the-art national laboratory; a national Ophthalmology hospital, upgrade to the National Psychiatric Hospital, and a new four hundred bed in-patient facility at the Georgetown Public Hospital Corporation (GPHC). Among the newly introduced features at the latter are units for cardiac care, kidney transplant, treatment of burns, dialysis, and diabetic foot care. Also in operation at the central system, is a vastly improved Accident and Emergency department, where the accent is on deploying methodologies of emergency medicine in tending to those who seek medical assistance. Central to this initiative is the utilisation of the triage system, that determines who is in need of immediate emergency medical treatment. Other interventions with the purpose of delivering timely and qualitative health care to the nation include more trained medical doctors, and, a raft of post-graduate medical programmes in conjunction with North American medical institutions. Infrastructure transformation The restoration of infrastructure, particularly roads and bridges, has been a major aspect of the national development programme. This has become necessary, because of the four -fold increase of vehicles on the country’s roads, which has resulted in severe congestion, impeding timely and safer travel in the process. As one of the centre pieces of the national transformation now taking place, Guyana now boasts well paved roads, a modern four- lane highway from Diamond to Providence, on the East Bank of Demerara that is in the process of being extended, and another on the East Coast of Demerara that is being built from Better Hope to Golden Grove. Other major works executed are the 34.5 kilometres of all-weather roads in the important farming belt of Black Bush Polder; kilometers of roads in the East and West Canje areas, and the proposed rehabilitation and improvement of the Sheriff Street to Mandela Avenue highway. Also upgrades to the 30.5 kilometre West Coast of Demerara Road from Vreed-en-Hoop to Hydronie, will soon begin to make the lives of those utilising that corridor, safer. Youths-opportunities abound for development Creating opportunities has been a key plank in government’s socio-economic development programme. As would be expected, many of these programmes have been aimed at particularly early school leavers, and single parents. The Board of Industrial Training Programme (BIT) administered and delivered through the NTPYE, has been a revelation in the role that it has been playing in facilitating both these categories in providing skills that allow for employment opportunities, inclusive of self-employment. In excess of 1000 persons from both categories graduated from more than 21 occupational areas, in 2013. Since the country’s youths are seen as very important to the growth and development plans of the country, Government has been investing in this segment of the population, preparing them to play their part in the development process. To this end, in excess of 2000 young people would have benefitted from training programmes, such as the National Training Programme for Youth Empowerment (NTPYE), and the Youth Entrepreneurial Skills Training (YEST) Programmes. There is also a similar programme for Hinterland youths and the President’s youth Award: Republic of Guyana. A better life for the elderly Even the elderly are catered for in the socio-economic plans of the PPP/C government. Successive Budgets have seen this category of citizens, mostly social assistance old age pensioners; receiving increases to their monthly sum, in order to meet their basic needs. For example, for 2013, their rate of pension increased by 25 percent. But this assistance was also extended to those who are customers of the Guyana Power and Light (GPL), to be able to receive a subsidy to the ceiling of $20,000 per annum, assistance for defraying their energy bills. Investments – changing the landscape, creating jobs It is undisputable that investments, both foreign and local, have been playing a pivotal role in Guyana’s social and economic growth and development. Despite the early challenges of social stability, government has continued to create an environment conducive to ensuring that Guyana is good for business. In promoting this objective, it has, through the years, created an enabling environment, with the Private Sector being recognised as the engine of growth. Traditional businesses have doubly expanded, with small scale and medium sized manufacturing and industrial concerns similarly growing. Of note is the gradually increasing numbers of large scale agricultural farming enterprises, other than rice, as well as other new industries such as auto marts, and mining stores, the latter due to the great increase in mining investments, both local and foreign. Simply stated, investors have never had it so good in this country’s business climate. The increase in construction in the number of malls, and other business intended structures, such as hotels in communities outside of the capital city, points to an investor confidence that has never been so high. In fact, the changing city skyline is emphatic evidence of a booming economy that now exists. These investments, both local and foreign, have brought job opportunities for many Guyanese. That the nation’s budgetary allocations have been well planned, national social and economic development programmes delivered by adequate funding that has been available, is undoubtedly due to the prudent management of the nation’s fiscal affairs and regulatory and institutional safeguards. Very significantly is that Guyana has not suffered from the international economic crises. As a result of this, there were no cuts or reductions to the many social programmes that were mandated to improve the lives of citizens. The examples, outlined, are undeniable truths of budgets that have continued to impact positively on the lives of thousands of Guyanese. They are indeed, budgets that are about changing the lives of people.
Posted on: Sun, 23 Mar 2014 04:57:45 +0000
Trending Topics
Recently Viewed Topics
© 2015