Following days of debate and the consideration of estimates, the 2022 Budget of $552.9 billion was passed yesterday by the National Assembly and it also approved the amount of $129.6 billion to be withdrawn from the country’s Natural Resource Fund (NRF) to help fund the expenditure.
Included in the budget, which has been called historical and transformational by Senior Minister within the Office of the President with Responsibility for Finance, Dr Ashni Singh, were provisions for a number of major projects to be conducted throughout the year.
These allocations include $29.4 billion to the energy sector which specifies that the sum of $20.8 billion be set aside for the gas-to-energy project. This is with the aim of moving the country to cleaner sources of energy, according to the Minister.
