Rawle Lucas

Movement of money One of the most important aspects of the global political economy is the finance structure.

Contribution In last week’s column, it was noted that small businesses make up a substantial part of the Guyana economy.

Contribution While small businesses may not generate as much money as large corporations, they are a critical component of, and a major contributor to, the strength of local economies.

New board As many Guyanese would be aware, a new governing board of the Guyana Revenue Authority (GRA) was established in June of last year to execute the mandates expressed in Section 12 of the Revenue Authority Act regarding the approval of policy, monitoring of the performance of the GRA and the discipline and control of the staff.

Minimum role Over the past three weeks, this writer looked at the challenges of revenue collection in Guyana.

(Conclusion) Properly and effectively In the second part of this article, this writer observed that revenue collection was not at its optimal position.

Functions The tax structure is used to collect the revenues that the government utilizes in its programmes, and is a function of the historical experience of the country.

Not simple The revenue challenge facing the new administration is not a simple one.

Important structure One of the most important structures in international affairs is the finance structure.

Reasons for trade deficit As was noted in the first part of this article, trade remains a very important element of the Guyana economy.

On the 26th of May 2015, President David Granger said “Our diplomats must open more markets”.

Resource gap The Bank of Guyana has been reporting for some time now on what it refers to as the resource gap.

Public affairs The government is responsible for several enterprises that are classified in the public accounts as public corporations.

Constant trade deficit Guyana, like several other countries, runs a constant trade deficit.

Public Outcry Ever since it was discovered that the new administration had increased the salaries of its ministers and parliamentarians, there has been a public outcry and groundswell of criticism for taking the action.

Early concerns The early concerns that the Guyana economy has slowed down and that the growth for 2015 would at best be sluggish remain valid even after a round of salary increases.

Wide-ranging powers The National Industrial and Commercial Investments Limited (NICIL) was formed in July 1990.

Decree On May 26, 2015, the Government of Venezuela issued Decree 1787 which purported to annexe the territorial waters of Guyana off of Guyana’s Essequibo coast.

Controversy The experience with the Berbice River Bridge and its relationship with the investment made by the government seem to make people leery about using the public-private partnership investment model in the construction of projects in the future.

Complicated In a process complicated by the prorogation of parliament and the holding of elections after the mandatory budget approval period had passed, the Granger administration had to put together a budget for 2015.