The 2009 Budget, Sugar – And Our Members’ Money

Finance Minister, Dr. Ashni Singh

The nation read and listened on February 09, 2009 as Finance Minister Dr Ashni Singh revealed details of Government’s annual Budget of Revenues and Expenditure.

Again it was dubbed the “largest ever,” it totalled a massive G$128.9B. Guyanese paid attention this time as the Guyana’s economic plans and projections were being presented against the backdrop of a global recession which is itself a fall-out from the worst capitalist financial melt-down in decades. Just what is the government planning to do with what it hopes to earn in 2009?

GAWU was not surprised to hear that the sugar sector commanded significant attention in this year’s budget. the Minister announced that G$1.2B has been earmarked to commence the construction of another packaging plant at Enmore and other financial reviews regarding the new factory at Skeldon, all Guyanese understood the vital importance of sugar to the survival of Guyana’s economy. (see other stories on sugar in this issue.)

Meanwhile, GAWU President Komal Chand commenting on the Clico situation stated that he “was satisfied with President Bharrat Jagdeo’s statement that policyholders of CLICO will not lose their money” he went on to say that “over the past decade the Union and its employees has made some G$20m worth of contributions to CLICO, through its Pension Scheme, covering nearly forty employees who operated to execute the Union’s representation of its thousands of members.”

Elsewhere in this can be found a summary of projections detailing what the 2009 Budget plans for all citizens.