The Private Sector Commission (PSC) yesterday praised the government’s proposed 2021 national budget, saying it contains sufficient fiscal measures and public investment programmes to encourage the growth of the private sector while lowering the cost of living for the ordinary Guyanese.
Finance Minister Dr Ashni Singh on Friday announced a $383.1 billion budget for 2021, while saying that the economy is projected to grow by 20.9% if it reopens via a gradual lifting of COVID-19 restrictions.
In welcoming the announced plans, the PSC yesterday noted in a statement that the measures, policies and programmes announced in budget 2021 are designed to enable the diversification of the economy as well as resuscitating the major productive sectors – such as the agriculture, construction and infrastructure sectors. It said this is crucial given that the non-oil economy has contracted by 7% in 2020 on account of the effects of the COVID-19 pandemic and the five months political impasse, as well as to avoid the ‘Dutch disease’.