December 5 is Guyana’s 2017 National Budget Day

Last Updated on Monday, 22 August 2016, 14:43 by Written By Denis Chabrol

Guyana’s 2017 National Budget will be presented on December 5, 2016 and to assist with its preparation, government is contemplating the establishment of ministerial planning units, President David Granger announced Monday.

“We can only maintain that pattern of preparation if there are established planning units and the Ministry of Indigenous People’s Affairs will have such a planning unit,”  he said

Demerara Waves Online News has been told that Finance Minister, Winston Jordan has already begun holding budget consultations with representatives of government ministries and non-governmental stakeholders.

The 2016 Budget was presented on January 29, 2016, as part of the Granger-led coalition administration’s decision to present early national budgets to allow for timely and efficient spending of public funds on a range of projects and projects.

Constitutionally, Guyana’s budget must be debated and approved by the National  Assembly for assent by the President no later than April 30 of each year.

The 2017 National Budget comes at a time when the Guyana Public Service Union and government are considering proposals for a wage and salary hike in keeping with the much vaunted restoration of collective bargaining for wages, salaries and allowances between the union and government.

Also expected to be reflected in the 2017 package are adjustments to the 16 percent Value Added Tax following an assessment, currently underway, by the regional technical assistance mechanism of the International Monetary Fund (IMF).