Christopher Ram

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Focus on Guyana’s National Budget 2018

Focus on Guyana’s National Budget 2018 represents the twenty-eighth edition of this Ram & McRae annual publication which highlights, reviews and comments on the major issues surrounding and raised in the National Budget.

Introduction

Focus 2018 begins with a correction of a statement in Focus 2017 that Budget 2017 was the earliest national budget ever been presented in post-independence Guyana.

Highlights

2017 FactsGrowth in Real GDP of 2.9% compared with initial and revised targets of 3.8% and 3.1% respectively.

Review 2017

Financial Review Current Revenue for 2017 is projected at $192,673 million, exceeding budget by $6,651 million or 4%.

2018 Policy Issues and Targets

Introduction The Minister of Finance, Mr. Winston Jordan, presented the fourth budget of the APNU/AFC Coalition – with “The Journey to the Good Life Continues” as its theme.

Budget 2018 Measures

In this section we consider the measures announced by the Minister, analyse them, evaluate their impact and discuss the extent to which they provide useful economic benefits to stakeholders.

Taxpayer Charter Needed

Introduction Taxation without representation was one of the causes of the American Revolution and has ever since been an emotive appeal for those who consider themselves aggrieved by injustice.

Conclusion

Once again, Finance Minister Winston Jordan has delivered an early Budget which should be passed before the beginning of the new year.

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