Introduction
As earlier indicated I intend to merge the ongoing discussion of Guyana’s public investment management into what is, hopefully, a fruitful consideration of the National Budget, 2013. Starting this week, I begin with a critical appraisal of government’s investment strategy, as this is the starting point for effective public investment management. Indeed projected capital spending in this year’s Budget is around 40 per cent of total expenditure.
As I have indicated to readers before, government spending (whether capital or recurrent) does not come out of thin air.