Tomorrow’s budget presentation will formally disclose the closing balance of the Natural Resource Fund (NRF) for 2022 and how much monies are expected to be deposited in the Consolidated Fund and the amount to be directed towards “very safe investments”.
The Chair of the NRF Board charged with the overall governance of the Fund, Major General (Rtd) Joseph Singh told the Sunday Stabroek that, even as the body has begun work since it was constituted last year, it must now await the approval of the 2023 Budget Estimates.
“The NRF Board will be, like everyone else, awaiting the Budget 2023 presentation. What is in the budget for the Fund has to be approved by Parliament. And only when those sums are approved for the NRF we can act,” he said. “When that is done, we will check the approved amounts against the reports collected from Bank of Guyana and will begin execution of duties using the guidelines of the Act. The Act guides you on everything that has to be done…,” the NRF Chair added.
