Overview of Guyana’s budget process

Anand Goolsarran

By Anand Goolsarran

Introduction

A budget is a financial plan that drives the operations of any organisation. It facilitates making things happen as opposed to allowing things to happen. It is a financial monitoring tool to facilitate comparison between planned performance and actual performance. Variances are identified, and corrective action is taken to bring actual performance in line with planned performance or, where this is not possible, to amend the plan.

Budgeting in Government
In contrast to budgeting in the private sector which focuses mainly on return on investment, government budgeting hinges on rendering a service. It is the quality, efficiency