-despite billions in subventions
Even with a $15b subvention for 2023, GuySuCo recorded a $4.7b loss, according to the corporation’s preliminary audit report and the forecast is that the trend will continue as projections show that the 2024 production figure will be the worst in the corporation’s history.
“The 2023 Annual Report was presented to the Office of the Auditor General and shows a $4.7b loss… but we had collected a $15b contribution from government,” a source said pointing to the annual report.
In August this year, this newspaper had reported that even as the corporation’s audit for last year was still to be completed, GuySuCo recorded back-to-back losses of $7.8 billion and $10.2 billion in 2021 and 2022 respectively with this year recording the lowest first crop in its history.