With a massive $20.8b earmarked for the planned gas to energy project, the historic tapping of US$607.6m in oil revenues is the major financier of the 2022 budget and the government is projecting a further US$957.6m in petroleum revenues this year.
Minister of Finance, Dr. Ashni Singh yesterday said that of the $552.9b Budget, the US$607.6m and the US$54m balance received from Norway under the GRIF facility contribute more than half of this year’s budget at $301.3 billion.
From that amount, he explained that $20.8b will be set aside for the gas-to-energy project “Major allocations within this [the 303.3b] amount include: $20.8b for the gas-to-energy project and $1.4 billion for the 33 MWs solar farms for Berbice, Essequibo, and Linden,” he said in his budget presentation yesterday at the Arthur Chung Conference Centre.
