-projects loss of over $100b from inefficiencies
Chartered accounting firm Ram and McRae has criticised the trillion-dollar 2024 budget as being all about spending and borrowing and not addressing the cost of living crisis that has snared thousands of people in the lower brackets.
In its annual budget review for Stabroek News which is carried as an insert in today’s edition, Ram and McRae said: “This Budget makes history, not all for the right reasons. It is the largest Budget ever – by far -much of it in capital works. It is all about spending and borrowing. The Minister has given no explanation for the levels of spending and borrowing. Even if this Government can bring inefficiencies down to 10%, we will have a loss over 100 billion dollars, before any later supplementary provisions”.
The firm said that because of a change in how the Estimates are constructed, the exact starting balance in the Consolidated Fund cannot be determined.
