By Josiah Williams
In a recent live address, President Dr. Irfaan Ali clarified the purpose behind his government’s capital expenditure, emphasizing its role in transforming Guyana and addressing gaps left by previous administrations.
The President highlighted that the current government’s investment strategy is focused on bridging infrastructure deficits and revitalizing sectors that suffered under the previous APNU/AFC administration.
He explained that this approach is in line with the promises made in their 2020 manifesto, aimed at improving national equity and international competitiveness.
President Ali detailed that the capital expenditure is being strategically directed towards significant infrastructure projects, including road construction, energy grid expansion, and the development of telecommunications and water and sanitation facilities.
He underscored that these efforts are supported by the Inter-American Development Bank (IDB), which has recommended investments ranging from 9.4 billion to 23.8 billion USD by 2030 to enhance these critical sectors.
The President defended the government’s substantial spending by noting that these investments are essential for addressing the neglect of key sectors from 2015 to 2019, thereby rejuvenating the country’s economic framework and infrastructure.
This strategic allocation of funds is aimed at not only bridging regional disparities but also bolstering Guyana’s overall economic competitiveness and development prospects.