GEORGETOWN, Guyana, Nov 29 2016 – Opposition Leader Bharrat Jagdeo has described the GUY$250 billion budget presented by Finance Minister Winston Jordan as “the worst I have ever seen”.
Jagdeo, a former finance minister, said that the fiscal package was ominous and that not much thought had gone into its formation.
The Guyana government Monday presented a GUY$250 budget to Parliament outlining a series of new taxes and reducing the Value Added Tax (VAT) by two percent.
Jordan also announced that electricity and water supply will now attract the 14 percent VAT.
But Jagdeo, a former head of state, criticised the budget saying that the budget caters more for the rich than ordinary Guyanese.
Jagdeo told reporters he would have been happier to see a fiscal package that was more supportive of efforts to spur economic growth and encourage investments.
