Today is Budget Day: Revisiting Guyana’s budget process

When corruption enters politics, the latter becomes contaminated. Definitions change, and loyalty to the King becomes the norm. The one who does not agree is branded a traitor. If truth does not side with the King, it becomes untruth…and politics buys every person who stands before it. Words like friendship and loyalty lose their meaning. The Treasury is used to buy those who could change opinion, and rebellion is suppressed with gold.

There are two types of politics. One is based on the Treasury while the other is based on truth. One serves the King’s personal interest; the other serves the nation. The aim of one is to be on the throne forever; the aim of the other is to remain in the hearts of the people…If truth is on your side, then religion will also side with you.
                                                       Mahabharata

Last week, I had indicated that we would continue our discussion on decision-making. However, in view of the Minister of Finance’s announcement that today is Budget Day, readers will bear with me if we were to revisit Guyana’s budget process.

Constitution requirements
Article 218 of the Constitution requires the Minister to prepare and lay before the National Assembly, estimates of the revenues and expenditure of Guyana within 90 days of commencement of the financial year. Once approved, an Appropriation Bill is introduced to provide for issues from the Consolidated Fund. There is provision for supplementary estimates if the original amounts are insufficient, or if a need arises for which no provision had been made.  In rare occasions, where moneys have been expended in excess of the amount appropriated or for which no appropriation has been made, the Minister is required to present to the Assembly a statement of excesses for approval.
Article 219 authorises the Minister to make withdrawals from the Consolidated Fund for up to four months pending the passing of the Appropriation Act. Where Parliament is dissolved before any provision or sufficient provision is made, the Minister can make withdrawals from the Consolidated Fund up to three months.