Budget Day is yet to be determined
Kaieteur News – A Senior Minister in the Office of the President with responsibility for Finance, Dr. Ashni Singh, explained that no specific date has yet been set for the introduction of the 2021 Budget and that a date reported by at least one media outlet today was just one ‘indicative’ on the budget newsletter distributed just two weeks ago.
“It has been brought to my attention that at least one news outlet has stated that the date for the 2021 Budget has been set – that the budget date is February 5, 2021. The actual specific date for the 2021 budget submission has yet to be finalized . I suspect the speculation about Feb. 5 probably came from the Budget newsletter, ”he said.
The Senior Minister for Finance further noted that budget circular timelines are usually set out for the budget preparation process and that actions are set out with deadlines set for each process.
“So the budget circular included a date – an indicative date – for the budget submission we are targeting … but that is, and has always been interpreted as an indicative date … the exact decision date we are going to be presenting the Budget … that decision is going to be made we will say much nearer the time, “he added, reiterating that no decision has been made that the Budget will will be delivered on February 5th or any other date ‘.
However, the Minister pointed out that the 2021 Budget will be the first full year budget of his Government five year term and as such, as on previous occasions – the Government’s medium and long term priorities including the Government’s long term priorities are outlined a term vision for the country.
“The manifesto outlines many of our major initiatives and major projects will be our main departure points. In addition, we also hope to try to simplify the Budget so that the expenditure we face is also more efficient. We have highlighted that our predecessors in office are far more extravagant in spending in some areas and we hope to streamline some of that spending, not necessarily eliminate it but channel it into more productive areas … and which will contribute in a more meaningful and direct way to stimulating economic growth and improving people’s lives, ”Minister Singh further elaborated.