By Saskia Warrick, January 17, 2025
A substantial allocation of $104.6 billion has been set aside in the 2025 national budget to rejuvenate Guyana’s agriculture sector, promote food security, and strengthen the nation’s leadership in sustainable agriculture.
The budget outlines significant investments aimed at improving key areas such as drainage, irrigation, sugar rehabilitation, crop production, and livestock.
Key Allocations:
- A dominant portion, $73.2 billion, is earmarked for upgrading and expanding the drainage and irrigation network, with significant projects in Regions 3, 5, and 6, as well as the construction of eight new pump stations.
- The sugar industry will receive $13.3 billion to rehabilitate facilities, expand mechanization, cultivate 3,068 hectares, and construct 17 kilometers of all-weather roads.
- The high-value crops sector, including corn, soya, coconuts, spices, citrus, and vegetables, will be bolstered with $2.9 billion in funding.
- Livestock, particularly poultry production, processing facilities, and breeding programs, will receive $1.7 billion in support. The fisheries and aquaculture industry will get $1.3 billion to grow shrimp and fish farming and improve monitoring systems.
- The rice industry has been allocated $430.9 million, with another $800 million set aside to stimulate agro-processing.
Additional Initiatives:
- The Government is also proposing the removal of VAT on agricultural machinery imports to lower operational costs.
- A new tax incentive for poultry farmers will allow for faster depreciation of production equipment, helping improve efficiency.
These investments are part of a broader strategy to not only secure food supplies but also position Guyana as a regional leader in sustainable agriculture practices.