Govt must say how much of budget is financed by loans – MP Forde

Opposition MP Roysdale Forde wants the government to say how much of the 2021 national budget is being financed by loans. On Monday, the final day of the debate on the budget, the MP said that the Government intends to “go borrowing to fund the deficit,” but that Dr Ashni Singh, Minister with responsibility for finance has not said how much of the Budget will be financed by loans.

“For the 5 years of the APNU+AFC in Government, the total deficit for those years was ninety-two billion dollars, last year alone the Budget deficit for the PPP/C was ninety-two billion dollars and this year, one hundred and six billion dollars, Forde told the House, “So the programme is to borrow and spend, borrow and spend,” the MP declared.

Forde told the House that a “heavy debt burden” is being placed on Guyanese, as he accused the government of having “no concern about the workers.”

“The late President Cheddi Jagan, in his 1980 Budget presentation stated and I quote:  “Debt financing will continue to plague the working people. And this country will sink deeper and deeper into the mire of despondency and despair,’’ Forde said.

Forde also accused the PPP government of abandoning workers, as he listed nurses, teachers, soldiers and private and public sector employees, “you see, Mr. Speaker, they must work, and preferably be seen and not heard, that is why the voice of workers and labour cannot and did not adorn the pages of this Budget.”