For ease, I've compiled the 2014 Budget. All the essentials you need to
know on the 2014 Budget:
My analysis will follow in the press.
2013 Facts
Real GDP
Growth 5.2%
Balance
of Payments Deficit US $119.5M
Inflation
Rate 0.9%
Commercial
banks average lending rate 11.16%
Small
savings rate 1.33%
Treasury
Bills rate 1.45%
Foreign
exchange transactions US$6.4B
Export
earnings US$1.4B
Import
earnings US$1.8 B
Balance
of Trade deficit US$0.4 B
Net
current transfers US$353.2 M
Remittances
US$328.2 M
Capital
Account US$314.8 M
Foreign
Direct Investments US$214M
International
Reserves US$776.9
Net
domestic credit $129 B
Expansion
of credit to private sector 14.5%
Non-financial
public sector deficit $28.7 B
Total
current revenues $135.7 B
Non-interest
current expenditure $115.9 B
Tax
revenues $126.5 B
Internal
revenues $51.7 B
Corporation
tax $21.6 B
Personal
income tax $955.8 M
Customs
& trade tax $13.2 B
Value
Added Tax $34.4 B
Exercise
tax $27.3 B
Capital
expenditure $50.1 B
Public
enterprises deficit $1.6 B
External
debt US$1.2 B
Total
debt service US$45.9 M
Total
domestic debt $98.8 B
2014 Targets
Budget Size G$220B
Real GDP Growth 5.6%
Inflation Rate 5%
Balance of Payments Deficit US$21.9M
Total
Current Revenue $149.6 B
Total
Expenditure $215.9 B
Fiscal
Deficit $32.4B
Internal
Revenues $55.8B
Value
Added Tax & Excise US $65.8B
Non-Tax
Revenues G $14.4B
Growth in private sector credit
(Chart):
Manufacturing
22%
Construction
18.8%
Engineering
17.4%
Personal
and Real Estate 16.9%
Mining
& Quarry 13.9%
Agriculture
13.7%
Rice
Milling 9.9%
Budgetary Measures
Subsidy to Guyana Sugar Corporation-- $6B
Subsidy to Rice Industry $500M
Other Agriculture Subsidies $200
M
Guyana Power & Light subsidy
$6.9B
Rural Enterprise Development $1B
Establishment of Hospitality Institute US$4M
Preparatory work to dredge Port Georgetown $100M
Linden to Lethem Roads upgrade $1B
“Clean Up My Country” initiative $1B
Education grants for families $2B
No comments:
Post a Comment