Senior Finance Minister Dr. Ashni Singh highlighted the government’s core objectives, emphasizing the importance of prudent, transparent, and accountable management of the state’s financial resources.
In an appearance on the Dr. Randy Persaud show, Dr. Singh reaffirmed the government’s dedication to crafting policies that align with the global economy and suit Guyana’s financial situation.
Since assuming office in August 2020, the government has significantly increased annual budgetary allocations for all sectors.
This year’s provision is 41.4 percent higher than that of 2022. According to Dr. Singh, these financial allocations are directed towards fostering robust economic development.
This includes initiatives such as expanding health services, advancing infrastructure, and generating employment opportunities.
These interventions play a vital role in the country’s transformation and in mitigating poverty.
Regarding foreign currency management, the Finance Minister underscored the government’s commitment to maintaining a stable exchange rate.
This stability is crucial for ensuring the competitiveness of Guyana’s non-oil sectors in the international market.
In 2021, Guyana was ranked 122nd in the world for total exports and 141st for total imports.
Key export commodities include petroleum, gold, agricultural produce, and timber.
Regionally, Barbados and internationally, the United States, stand as some of Guyana’s largest export partners.