While up to November this year it has recorded a year-to-date deficit of $238.1m, the National Insurance Scheme (NIS) is projecting a return to a surplus position by the end of this year and for this to continue next year.
This would be good news for the 47-year-old NIS which has been buffeted by deficits since 2012 and dire prognoses about the financial health of the Scheme. The NIS got a major boost this year when the Guyana Government decided to cover its $5.6b investment loss in the CLICO (Guyana) Ltd meltdown in 2009.
At an end of year press conference yesterday at its Brickdam headquarters, Acting General Manager Holly Greaves said that as of November 30, 2016, NIS income from contributions collected was
