On the programme were Budget Director, Dr. Ashni Singh and Budget Advisor, Mr. Winston Jordan.

As technical experts in budget preparation, Dr. Singh and Mr. Jordan were tasked with the responsibilities of reviewing how government Ministries/Departments/Agencies translate policies into specific programmes and activities.

Last Friday, Minister of Finance, Mr. Sasenarine Kowlessar presented the $72.9 billion Budget in Parliament for the fiscal year 2003.

According to Dr. Singh, the National Budget should not be taken in isolation, but should be seen as an ongoing process. It also involves tracking developments in Government policies as they evolve.

He said that the challenge of presenting a $72.9 billion Budget was to source revenues without causing inflation.

This year's Budget, the largest ever, was presented under the theme, `Confronting the Challenges: Staying on Course for a Prosperous Guyana'.

Singh said that the priorities of Budget 2003 include developing a climate for investments, both local and foreign.

To this end, the Government has crafted the necessary legislative framework for investment.

To create a conducive investment climate the Government has made available $7 billion to address crime and security. Since a stable social and political climate is a prerequisite for growth and investment, the Budget sought to continue the Government's efforts in creating a stable environment for investment, job creation and poverty reduction.

Commenting on the 1.1 per cent Gross Domestic Product (GDP) growth for 2002,

Mr. Jordan said, "The last five years (Guyana) has had problems of varying kinds and although we have been able to survive, we have still not achieved the growth level that we would have wanted."

The difficulties encountered putting together a Budget of such magnitude was emphasised by Jordan.

To this end, he noted, "In putting together a Budget in a difficult environment, one has to ensure that you get as close as possible to ensure that you achieve what you set out to do. So, the Budget being 72.9 billion dollars in a difficult year was attributed to the skill, more or less, of getting the funds."

President Bharrat Jagdeo has been instrumental in garnering international funds to finance this year's Budget.

With this aim in mind, he recently made a number of official visits to the United States of America.

Budget 2003 also has to be reviewed in the context of the prevailing global and domestic challenges.

According to the 'Budget at a Glance' produced by the Finance Ministry, "The priorities are job creation through growth, promotion and attraction of investment, and increased support for the private sector; greater access to potable water, housing and other social services; reform of the Judiciary; more accountable Government; and an intensified crime fight."