Coping with the realities
Guyana Chronicle
FINANCE Minister, Mr. Bharrat Jagdeo, tabled his fourth budget yesterday conscious of the need to strike the right balance in what many acknowledge is a grim situation. Many will welcome the announcement of no new taxes and the minister's assurance that negotiations are continuing for pay increases for public servants. Mr. Jagdeo is optimistic about returning the economy to buoyancy this year and did not seek to hide the difficulties countries like Guyana face. He noted that the challenges facing the nation on the eve of next millennium are many and yesterday outlined what he sees as the way to go. The objectives he has set include returning confidence to the economy, particularly the currency, introducing a "comprehensive programme of assistance to diversify the economy, focus on budget creation" and improving the social sector. There are many aspects of the budget speech to be commented on but we welcome the continued emphasis on expenditure for critical areas like education, agriculture, health, water and sea defences. These have not been sacrificed in the need to cut costs and will go a long way in helping thousands be in a better position to meet the basic necessities of modern life. Getting something as basic as potable water to communities and households is still an immense problem in this country and the determination to keep this on the front burner is commendable. "...the provision of potable water is at the heart of our basic human needs programme", Mr. Jagdeo stressed in his budget speech. And the focus continues too on housing, regularising squatter settlements, improving roads and creating jobs. "...the policies and measures contained in this budget mark another stage in our quest to improve the standards of living of our people", the Finance Minister stated. He added: "When we came to office in 1992, the deficit and the debt burden were at unsustainable levels. "Today, through prudent macroeconomic management and tireless efforts at lobbying the international community, we have been able to restore a sound macroeconomic framework, rebuild our infrastructure and improve social conditions." Again striking what we think was the right note, Mr. Jagdeo acknowledged: "...the needs of our people are many and assistance from a caring government is always expected. "We cannot do everything for everyone at the same time. Setting priorities and focussing on areas that will make a difference to our people is very important. That is what we have done. "Through strong macroeconomic policies, structural reforms, support to the private sector, job creation policies, and programmes to improve health, education, water and housing, we hope to return our economy to buoyancy in 1999." We believe the budget speech reflects the realities, not hiding the difficult situation but setting the stage for hope and for returning the economy to growth, while ensuring basic needs are met. As the Finance Minister says: "Guyana's future is in our hands."
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