| By Kiana WilburgAs the time for the presentation of the 2017 budget draws near, Opposition Leader Bharrat JagdeoOpposition Leader, Bharrat Jagdeohas given much consideration to the impact of the Government’s first two budgets on the economy.The former Finance Minister has since concluded that those budgets and their measures were simply not enough to have an impact of consequence much less sustain economic growth.Jagdeo in an invited comment said, “The last two budgets did not have the impact promised on transforming the economy and I intend to take the Finance Minister, Winston Jordan to task in this regard.”The Opposition Leader noted that all budgets should have some amount of impact on the economy and when it comes to the 2015 and 2016 budgets, the point for him is whether both have fulfilled their expectations.“So in my view, the measures in both budgets were not sufficient to maintain growth in the economy and to keep generating wealth for people. And even where resources were budgeted to have some impact on employment and expansion of public welfare through public infrastructure, it did not,Cheap Adidas NHL Jerseys, because of the low rate of implementation,” Jagdeo noted.He said that overall, the budgets “were deficient and measures in both were not fully implemented”.Jagdeo in the same breath acknowledged that the budgets had an impact, as all budgets do. He stressed however, “Whether they rise to the potential of making some significant impact or impact of consequence,Cheap Stitched Jerseys, I would say no.”In his 2016 budget, the Finance Minister had noted that it was the Government’s first full year budget. He said that the 2015 budget was a truncated one that, nevertheless, had to be presented, if only to fulfill the requirements of the Constitution and the Fiscal Management and Accountability Act.Finance Minister, Winston JordanThe Finance Minister said that in 2015, the Government faced a difficult time with regard to the economy.He said, “In 2015, perhaps for the first time in recent history, all of the country’s key industries – sugar,Cheap China Jerseys, rice, bauxite, gold and forestry – found themselves in various states of distress. Even remittances, which have contributed significantly to income, consumption, investment and employment, and upon which so many of our people depend, was a victim of the slowdown in the world economy.”Jordan said it was obvious that excessive reliance on these generators of foreign exchange would continue to expose the economy to volatile external developments. He noted that it was a tribute to the young Government’s prudent management of the economy, including timely policy interventions, that the economy’s growth trajectory continued; that there were no reported job losses; and,Wholesale Jerseys China, as was evident in the last two months of 2015, the business community’s confidence had been restored.“This must come as a bitter disappointment to those in the Opposition and elsewhere whose forecast of gloom and the ‘tanking’ of the economy did not eventuate,” Jordan had said.Additionally, the economist said that the 2016 budget built on the policies and programmes which were first outlined in the manifesto of the APNU+AFC Coalition and, subsequently, extensively elaborated in his maiden budget speech.The Finance Minister had asserted that the platform for the Budget 2016 was anchored on the five pillars which were outlined in President David Granger’s New Year’s Speech – National Unity,Cheap NFL Jerseys, National Infrastructure, National Institutions, National Security and Public Services.With regard to national unity, Jordan told the nation that his Government would implement policies aimed at reducing,Cheap Arizona Cardinals Jerseys, if not eliminating, division and divisiveness in the society; and foster a more harmonious environment.Furthermore, in an effort to foster integration between the coast and hinterland, with a view of increasing access to the resources of the hinterland so as to accelerate the country’s development, Jordan had disclosed that Government would be renewing, extending and expanding physical infrastructure.In the area of national institutions, he said that the coalition administration would strengthen those entities in furtherance of a stable legal and constitutional environment, and would pursue democratic renewal at the local government level to empower the people to better administer their communities.As for national security, the Finance Minister had asserted that the Government would strengthen the national security network to better protect the country’s patrimony and its citizens from both internal and external threats and aggression.In relation to public services, Jordan had said that Government would improve and extend education, health, sanitation, pure water supply, electricity services, safe and secured communities, affordable housing, adequate recreational facilities, and social protection to vulnerable and disadvantaged groups. |
