Source document: https://docs-lawep.s3.us-east-2.amazonaws.com/1698073512031.pdf (Guyana)
GUYANA SESSIONAL PAPER NO.

2 OF 2014 TENTH PARLIAMENT OF GUYANA UNDER THE CONSTITUTION OF GUYANA FIRST SESSION 2012 - 2014 MID-YEAR REPORT Honourable Dr. Ashni Kumar Singh, M.P.

Minister of Finance August 8, 2014 ______________________________________________________________________________ TABLE OF CONTENTS 1.

Introduction 2.

Global Economic Developments 3.

Domestic Economic Developments A.

Real Gross Domestic Product and Sectoral Performance B.
Balance of Payments C. Monetary Developments D. Inflation E. Fiscal Position F. Debt G. Key Sector Highlights 4.
Conclusion GDP Growth Rates by Sector Sector Share of GDP Balance of Payments Analytical Summary Appendices A1 A2 B1 C1 Monetary Survey D1 E1 E2 E3 E4 E5 E6 E7 Type of Financing E8 E9 F1 G1 Consumer Price Index Central Government Financial Operations Financial Operations of the Non-Financial Public Sector Public Enterprise Cash Flow Central Government Abstract of Non-Interest Current Expenditure by Chart of Account Non-Interest Current Expenditure by Agency Non-Interest Current Expenditure by Sector Central Government Summary of Capital Expenditure by Sector and Details of Expenditure: General Summary by Programme Central Government Abstract of Revenue by Head External Debt Stock Summary Expenditure of Key Sectors 1 3 4 6 7 8 8 10 11 26 27 29 31 33 35 40 41 42 1.
Introduction 1.1 Budget 2014, the third national budget of Guyana’s tenth Parliament, was presented to the National Assembly under the theme A Better Guyana For All Guyanese.

The Budget highlighted the achievement of an eighth consecutive year of positive growth in 2013, and projected a continuation of this favourable trend through 2014.
This sustained growth performance and positive outlook resulted from the growing resilience of the domestic economy, consistent with ongoing progress achieved in diversifying the productive sector, and supported by tentative signs of recovery in both the Caribbean region and the global economy.
1.2 The presentation of the budget to the National Assembly in March and its subsequent consideration, once again this year, occasioned a debate that resulted in the Assembly withholding approval for allocations to certain key and critical projects in both the social and infrastructural sectors, including a number of initiatives targeting some of the most vulnerable communities.
Government’s subsequent recourse to the previous court ruling on this matter resulted in a Cabinet directive to restore allocations for spending, though the interim period did inevitably witness some delay in programme implementation.

1.3 In an effort to fulfill Government’s mandate to deliver public services, provide a climate of opportunity for gainful economic activity, and improve quality of life for all the people of our country, the implementation of Budget 2014 continues apace.
In so doing, Government remains ever mindful of maintaining fiscal, debt and external positions that assure the sustainability that is so critical to the medium and long term national development agenda.

1.4 Over the first six months of 2014, growth has continued to be positive and inflation has remained low.

However, movements in relevant global commodity prices on both the import and export sides continue to be a source of risk to our near and longer term prospects.
Notwithstanding the challenging external conditions, and the inevitable uncertainties arising from the testing domestic political situation, Government’s policy stance is aimed at ensuring continued growth in the economy.
It is anticipated that Government’s continued emphasis on promoting competitiveness and securing resilience will offset any adverse impacts of uncertainty in the global economy and in 1 the domestic political environment, and ensure the achievement of a ninth consecutive year of positive economic growth in 2014.

2 2.

Global Economic Developments 2.1 At the time of presenting Budget 2014, the global economy was beginning to show signs of recovery.
This recovery is still expected to continue, although downside risks to its pace and evenness have resulted in projected global growth being lowered by 0.3 percentage points to 3.4 percent.

Downside risks include heightened geopolitical tensions with consequential implications for commodity prices.

Supply side constraints, tight financial conditions, and high cost of capital in some large economies could also contribute to somewhat slower global growth.
In both advanced and emerging market economies, structural reforms still need to be accelerated to close infrastructure gaps, strengthen productivity, and improve the growth outlook.

2.2 World commodity price movements were somewhat less volatile during the first half of 2014 compared to the corresponding period in 2013.

Over the period, the world market oil price remained high and increased by 2.7 percent from US$105.49 in December 2013 to US$108.37 per barrel in June 2014.
On the other hand, the world market price for gold remained low compared to recent years, even though it increased by 4.4 percent to US$1,279 per ounce during the first six months of 2014.

Aluminium prices stood at US$1,839 per tonne in June 2014, 5.7 percent higher than in December 2013.

Amongst food commodities, the world market price for rice declined by 7.3 percent and the price for sugar increased by 9.6 percent, while that for wheat increased by 5.1 percent.
2.3 In keeping with global trends, the growth projections for the region have also been lowered, with Latin America and the Caribbean now projected to grow by only 2 percent, which is 1.2 percentage points lower than projected at the time of Budget 2014.

This is mainly due to dampened growth in both Brazil and Mexico as a result of slower investment, lower pick up in consumption, and the muted pace of recovery in the US.
Within the Caribbean sub-region, growth is now projected at 2 percent as against the 2.1 percent projected earlier in the year, and is led once again by the commodity exporters, although some tourism dependent economies are projected to grow also.

3 3.

Domestic Developments A.

Real Gross Domestic Product and Sectoral Performance 3.1 As was previously indicated, Budget 2014 was presented within a framework that targeted growth to continue in 2014 along the trajectory of the past eight years.
During the first half of the year, the economy recorded overall growth of 3.2 percent in real gross domestic product, within which non-sugar GDP grew by 2 percent.

Given the performance of key sectors within the economy over the first six months of the year, overall growth for 2014 is now projected at 4.5 percent, of which non-sugar GDP is projected to grow by 3.6 percent.

3.2 Sugar production in the first crop of 79,995 tonnes was 66.5 percent above the first crop of 2013.
Based on the assumptions of favourable weather conditions and continued improvements in the operational environment, the industry is firmly on track at this point in time to achieve its end of year target of 215,910 tonnes.

Accordingly, the expected end of year output is maintained at the budget projection of a 15.6 percent increase over the 2013 output level.

3.3 The rice industry continues to achieve an unprecedented production boom.
In spite of instances of lower paddy prices and some delays in payment by millers to farmers, production in the first crop of 312,283 tonnes is already 18.3 percent over last year’s record high first crop of 263,868 tonnes.

In light of current conditions in the industry, the end of year output and growth projections have been revised upwards to 591,892 tonnes equivalent to 10.5 percent over the 2013 record production levels.
3.4 Production in other crops continues to record positive growth since 2007 and the half year estimate is already up by 5 percent over half year output for 2013.

Barring any adverse weather or unforeseen circumstances the subsector will achieve its budget target of 5 percent.
3.5 The livestock industry’s first half performance shows a 1 percent growth over first half of 2013 and maintains the sector on a growth path to achieve the year’s target growth of 3.3 percent, bolstered by the fact that higher demand is usually experienced in the second half of the year.

4 3.6 Despite the introduction of improved management and monitoring techniques in the fishing industry, first half production was 25.5 percent below 2013 levels.
Even with an improved performance in the second half, an overall decline in growth is expected and the budget target of 2.2 percent growth has to be revised to a whole year contraction of 8 percent relative to 2013 output levels.

3.7 On the other hand, the forestry sector recorded robust growth of 38.1 percent, supported by the introduction of new incentives to harvesters and sustained demand from the construction sector and furniture manufacturing subsector.
As a consequence the growth target has been revised upwards significantly from the budgeted 3.3 percent to 15 percent growth for 2014.

3.8 The performance of the mining and quarrying sector in recent years has been significantly driven by the record performances of the gold industry and to a lesser extent that of bauxite.

At the half year the sector has recorded a decline of 17.2 percent in gold declaration and a 3 percent decline in bauxite’s contribution.
Consequently, projected end of year gold declaration has been revised downwards to 450,000 ounces or a 6.5 percent decline, while bauxite value added is projected to contract by 6.1 percent.

With anticipated increased demand for quarry products in the second half of the year the production of ‘other mining products’ is expected to rebound and return a marginally lower 5.5 percent growth.
The overall sector performance for 2014 has been accordingly revised downwards from the budget target of 2.8 percent growth to a contraction of 5.1 percent.

3.9 In the first half of 2014, manufacturing output grew by 11.2 percent driven by increased levels of production for sugar and rice which has compensated for slower performances in other manufacturing, and as a result of which sector growth is now revised upwards to 8.1 percent, a modest improvement on the original target of 7.1 percent.
3.10 Overall growth in the services sector continued to be strong in the first half of 2014.

Underlying this, construction recorded an extremely strong 16.8 percent growth reflecting both public and private sector activity.

Wholesale and retail, information and communication, and financial and insurance activities recorded growth of 6 percent, 3.5 percent and 2 percent respectively.
These were marginally counteracted by contraction in transportation and storage by 9.5 percent, and in the electricity and water sector by 4.2 percent largely associated with supply 5 bottlenecks.

As a result of developments the first half of the year, along with the updated outlook for the remainder of the year, construction is now expected to record growth of 12 percent.
The direction of growth is expected to turn around for the transportation and storage sector benefitting from increased production and activity in the second half in the sugar, rice, forestry and trading sectors, as well as a higher activity level in the gold mining sector which is expected to accelerate air transport activities.

Resolution of some of the supply bottlenecks during the second half by the electricity and water sectors is expected to result in improved performance by the end of the year.
These will ameliorate but not fully reverse the effects of the lower than expected growth performance in the first half.

B.

Balance of Payments 3.11 The overall balance of payments deficit improved to US$93 million, compared to US$145.6 million at half year 2013, mainly attributed to a lower current account deficit of US$205.6 million compared to US$269.4 million at the end of June 2013.

This was mainly a result of a lower merchandise trade deficit coupled with higher current transfers.
3.12 Excluding gold, total exports grew by 4.3 percent to US$307.5 million in the first half of 2014.

Sugar exports returned US$34.4 million in earnings, a 26.4 percent increase compared to June 2013 level, attributed to an 80.3 percent increase in export volume to 69,687 tonnes.
Rice export earnings increased to US$95.6 million, 14.9 percent higher than at June 2013 due to a 30.7 percent increase in export volume to 186,000 tonnes, outweighing the 12.1 percent contraction in export prices to US$514 per tonne.

Timber export earnings rose to US$21.3 million, a 31.3 percent increase due to an increase in export volume, reflecting an expansion in plywood exports.
Bauxite export receipts declined marginally by 2.9 percent to US$66.9 million due mainly to a 6.4 percent contraction in export volume to 855,877 tonnes.

In addition, other exports contracted by 10 percent to US$89.3 million, primarily on account of a decline in fish and shrimp exports.
However, the first half of 2014 also witnessed a 24.6 percent contraction in gold exports earnings to US$226.7 million, associated with a 10.1 percent decline in export volume to 182,411 ounces, coupled with a 16.1 percent contraction in average export prices to US$1,243 per ounce.

As a result, overall receipts from exports fell by 10.3 percent to US$534.2 million in the first half of 2014 compared to the corresponding period in 2013.
6 3.13 Lower imports of consumption, intermediate and capital goods led to a contraction in merchandise imports of 7.5 percent to US$839 million.

Imports of consumption goods declined by 7.2 percent to US$186.9 million.

Under the intermediate category, imports contracted by 3.3 percent to US$476.1 million, mainly due to a decline in chemicals and consumables for capital equipment, outweighing the increase in imports of fuel and lubricants, other intermediate goods and food for intermediate use.
Imports of capital goods declined by 17.7 percent to US$171.9 million, with some moderation in the importation of agriculture, industrial and building machinery.

3.14 Net current transfers increased by 27.3 percent to US$214.4 million, notwithstanding a marginal decline of 2.5 percent in workers remittances.
Net payment of services amounted to US$115.3 million compared to US$126.3 million in the corresponding period in 2013, attributed to a 16.8 percent decline in net payment for nonfactor services to US$110.9 million, associated with lower net payments for commercial services.

Factor services registered a net outflow of US$4.3 million compared to a net inflow of $6.9 million, due to larger outflow of direct investment income, portfolio income and other investment income.
3.15 The surplus on the capital account amounted to US$106.9 million compared to US$149 million a year ago.

This outturn was due to increased holdings of net foreign assets by commercial banks.

Foreign direct investment increased by 10.7 percent to US$121 million driven by the mining and quarrying sector, even in the face of the world market price moderation referred to earlier.
C. Monetary Developments 3.16 Broad money declined by 0.1 percent to $313.1 billion, on account of a 3.8 percent contraction in narrow money due to a decrease in demand deposits and currency in circulation.

On the other hand, quasi money recorded a modest expansion of 2 percent reflecting increases of 3.1 percent and 1.9 percent respectively in time and savings deposits.
3.17 Private sector deposits contracted marginally by 0.3 percent to $242.2 billion, with deposits of individual customers contracting by 0.8 percent to $194.3 billion, while deposits of business enterprises expanded by 1.9 percent to $47.9 billion.

7 3.18 Net domestic credit by the banking system to the private sector grew by 2.9 percent.

Credit growth was driven by the mining, construction & engineering and real estate sector which expanded by 10.3 percent, 7.6 percent, and 7.5 percent, respectively.
Credit to rice milling, other services and manufacturing also expanded by 6.4 percent, 5.4 percent and 4.9 percent, respectively.

On the other hand, credit to other, personal and distribution declined by 9.9 percent, 5.4 percent and 1.1 percent respectively.

3.19 Commercial banks interest rates trended downwards, reflecting liquidity conditions.

The prime lending rate remained stable at 12.83 percent, while the small savings rate declined by 12 basis points to reach 1.21 percent.
The weighted average lending rate also declined by 25 basis points to 10.91 percent.

D. Inflation 3.20 At the end of the half year, the consumer price index has declined marginally from the December 2013 level by 0.4 percent.

This reflected continued stability in major commodity prices in the domestic marketplace.

Notably, global fuel prices have remained relatively stable as reported earlier and refined fuel product prices have remained similarly level at the local retail pump.
In addition, the moderation in gold prices has subdued some of the demand push from that sector for other commodities locally, contributing to more diffuse price moderation.

While the second half of the year is expected to see some risk of upward movement, including as a result of imported factors, the inflation target has now been revised downwards to 3 percent for the whole year 2014.
E. Fiscal Position 3.21 The non-financial public sector recorded a surplus of $1.7 billion after grants in the first half of 2014, compared with $9.6 billion in the corresponding period last year.

3.22 Central Government current revenue, net of the Guyana REDD+ Investment Fund (GRIF), for the first half of 2014 amounted to $73.8 billion, 3 percent above 2013 level, primarily reflecting growth in several revenue categories consistent with growing levels of productive activity and profitability.
Tax revenue collections increased by 2.9 percent to $66.8 billion, and represented 90.5 8 percent of total revenue collections, while non-tax revenue collections increased by 3.4 percent to $7 billion.

3.23 Internal revenue collections amounted to $30.2 billion, an increase of 4.5 percent over the corresponding period in 2013.
This was primarily attributed to a $1.1 billion increase in collections from the Pay As You Earn (PAYE) personal income tax category associated with the 5 percent salary increase granted in 2013 coupled with an increase in arrears collections.

In addition, corporation taxes from private sector companies recorded an increase of $620.8 million or 5 percent.
Collectively these increases offset decreases in other categories including a $398.1 million or 13.4 percent contraction in withholding tax collections associated with lower gold declarations.

3.24 Despite the decline in overall imports on the balance of payments, customs and trade taxes collections remained stable at $5.9 billion with import duties which accounted for 89.9 percent of the total collections, recording a marginal increase of $57.8 million or 1.1 percent.
3.25 Value Added and Excise Taxes increased by 1.8 percent to $30.7 billion, underling which were increased VAT collections on domestic supplies, partially offset by decreased VAT collections on imports and lower excise taxes on fuel and vehicle imports.

3.26 Non-tax revenue collections increased by 3.4 percent to $7 billion primarily attributed to an increase in Bank of Guyana Profits, outweighing the contraction in collections from dividends from equity holdings.
3.27 Non-interest current expenditure totalled to $54 billion, an increase of 28.7 percent over the corresponding period in 2013.
Personal emoluments increased by 11.3 percent to $19.7 billion, reflecting the across the board 5 percent increase for 2013 granted to public servants and members of the disciplined services in December 2013, the 5 percent granted to teachers for 2014 in line with the Memorandum of Understanding between the Government and the Guyana Teachers Union, and the cost of new recruits added to the government sector.
Other goods and services amounted to $15.2 billion, representing a 50.8 percent increase as a result of improved timeliness in programme execution.

Transfer payments totalled $19 billion, 34.9 percent above the 2013 level, primarily on account of the subsidy to GUYSUCO.
9 3.28 Central Government capital expenditure amounted to $14.6 billion compared to $10.9 billion a year ago, on account of higher disbursements on the locally financed public sector investment programme due largely to progress on ongoing projects.

3.29 The deficit of the public enterprises improved to $2.5 billion compared to $7.5 billion in the corresponding period in 2014 mainly due to higher production levels for GUYSUCO and aided by the subsidy provided.
F. Debt 3.30 Guyana’s public debt position remains sustainable on account of Government’s continued fiscal prudence and effective debt management.

3.31 As at end June 2014, Guyana’s total external public debt stood at US$1.23 billion which was 1.6 percent lower than at the end of 2013.

The decline in the debt stock follows the conclusion of a fourth Debt Compensation Agreement with Venezuela and the Wind-up Agreement of the Caricom Multilateral Clearing Facility (CMCF), in the first quarter of 2014.
Under this fourth Debt Compensation Agreement with Venezuela, the debt owed to that country was reduced by US$55.5 million corresponding to the value of rice and paddy shipped under the Guyana-Venezuela Rice Trade Agreement from October 2013 to February 2014.

Under the CMCF Wind-up Agreement Guyana secured additional enhanced HIPC debt relief through the cancellation of the US$35.9 million debt that was outstanding.
In addition principal repayments to external creditors increased by 10.8 percent to US$16.9 million as at June.

Actual external debt service payments totalled US$24.8 million which was 12.6 percent greater than the US$22 million as at June 2013.

The increased total debt service payments for the first half of 2014 is mainly the result of higher principal and interest payments to multilateral creditors.
3.32 At the end of June 2014, Guyana's domestic debt stock stood at US$422.7 million which was 11.8 percent below the end 2013 position.

This decline was primarily due to a reduction in treasury bill issuance by the Bank of Guyana.

As at June 2014, actual domestic debt service payments totalled US$3 million, a significant reduction by 67.1 percent compared with the US$9.2 million made during the first half of 2013.
The drop in domestic debt service payments follows the full repayment, in the 10 first quarter of 2013, of certain domestic debentures held obviating the need for similar payments in 2014.

G. Key Sector Highlights a.


Education 3.33 Significant progress was made in finalising the new Education Strategic Plan for the period 2014-2018 and towards the implementation of key priorities in the sector, and a total of $12.1 billion was expended in the first half of the year from the allocation of $32.3 billion for the full year.

Regional action plans to support the effective roll out of the national strategic plan are also being developed in collaboration with regional stakeholders.
3.34 Over $554 million has been expended on the construction, expansion, rehabilitation and maintenance of education facilities countrywide.

This expenditure saw the advancement of works at the Kato Secondary Complex, La Venture Secondary School, St. Agnes and Parfaite Harmony Primary schools with the majority of the rehabilitation and maintenance works scheduled to be completed over the August vacation across all levels of schools countrywide.
In the area of information and communications technology (ICT), works are on schedule to complete the equipping of the three remaining secondary schools with computer laboratories before the end of 2014.
3.35 Efforts to increase the proportion of trained teachers in the system have resulted in 749 students currently enrolled in the Associate Degree Programme (ADE), 69 students enrolled in the Trained Teachers Certificate Programme, and 102 students enrolled in the Teacher Upgrading Programme, while 17 staff members are currently accessing second and third degrees.
In an effort to ensure that lecturers are delivering and are equipped to deliver materials effectively, staff appraisal instruments were also developed.

3.36 In the area of technical vocational education training the development of an occupational standard for heavy equipment maintenance was completed to further support the mining industry 11 while curriculum content was redesigned to be more competency-based thereby enhancing its job relevance.
3.37 During the review period, works continued on advancing online degree programmes offered by the University of Guyana.

In this regard, works were executed on the infrastructure, mode of delivery, preparation of lecture scripts, virtual classroom setting, recording of lectures and tutorials and establishment of a schedule for face to face meetings with the aim of having the programmes available for the new academic year, which commences in September.
Additionally, the University will expend resources to renovate and upgrade 14 science and technology buildings in the final quarter of the year.

Curriculum reform of 15 programmes along with course content and assessment methodologies are slated for review with the relevant faculties in the latter half of 2014.

Importantly, the University is also currently examining a number of initiatives aimed at improving the financial viability of the institution.

b.
b.

Health 3.38 In 2014, $21.5 billion was allocated for the continued implementation of the National Health Strategy Health Vision 2020, of which $9.2 billion was expended as at the end of June.
3.39 Over $202 million has been expended at the end of the review period on the advancement of works at the Kwakwani Hospital and the Georgetown School of Nursing, and works at the acute care facility at the National Psychiatric Hospital are nearing completion with significant works scheduled to be completed in the third quarter.
Further, construction works on the maternal waiting home in Lethem for high risk patients are expected to commence in the third quarter of this year and will be operational before the end of the year while the designs for expansion of the maternity wing of the Georgetown Public Hospital will be completed.
3.40 In keeping with the prioritisation of maternal and child health, Government has completed several interventions, importantly among which is a MDG acceleration framework for achievement of improved maternal health.

In addition, a draft policy for Sexual and Reproductive Health was completed while training in neonatal care for 40 health professionals drawn from Regions 1, 2, 3, 7, 9 and 10 was conducted.
12 3.41 In the area of specialised training, 18 additional doctors were enrolled into postgraduate resident programmes and it is expected that 7 postgraduate residents in the areas of orthopedics, surgery and emergency medicine will graduate in the final quarter of 2014.

Additionally, to ensure that all specialised training offered is of the highest quality, a state-of-the-art video conferencing facility was opened during the first half of the year.
This facility allows for the live interaction between local and overseas health care providers and will be used to improve and expand opportunities for education through, joint teaching, and educational presentation as well as medical case reviews and consultations.
3.42 The establishment of the national commission on non-communicable diseases is anticipated to take place during the second half of this year with an enhanced public education and outreach programme countrywide aimed at improving healthy lifestyle choices for our people.

c. Housing 3.43 Over the reviewed period, $2.5 billion was expended in the housing sector towards ensuring access to adequate and affordable shelter, representing 56.8 percent of the sector’s total allocation of $4.4 billion.
The sums were expended to facilitate the distribution of 1,300 house lots and the processing of 2,196 land titles.

Of the expended sum, $2 billion was spent under the housing programme for infrastructural works to develop additional house lots.

3.44 Of the 100 houses promised through the public-private turnkey partnership, 42 have been completed while the remaining 58 are at varying stages of completion, and are expected to be completed in the final quarter of 2014.
3.45 During the first half of the year, 116 core houses were completed out of the 176 targeted for distribution to families in Regions 3, 4, 6 and 10.

Additionally, 62 coastal home improvement subsidies valuing $12.4 million of the $26.8 million allocation were distributed, while 34 hinterland subsidies valued at $11.4 million of the $54 million allocation were distributed, benefiting a total of 160 persons in Regions 1 and 9.
13 d. Water 3.46 In 2014, over $2.5 billion has been allocated to the water sector, towards increasing access to safe water and of this amount $661 million was expended at the end of June.

During the period under review, works commenced on the drilling of wells, upgrading of service connections, and installing of distribution of transmission mains.

The well at Hope is nearing completion while the Cotton Tree well is expected to be completed in the last quarter of this year.
Additionally, the works on the two water treatment plants at Wisroc and Amelia’s ward, along with water supply improvement works at Waikrebi have progressed.

For the remainder of 2014, drilling and completion of wells in areas such as Mon Repos, Sparendaam and Sophia will be executed while water improvement works at Arau, Aishalton, Santa Rosa and Taruka, among others, will be completed by the end of the year.
In an effort to address to rising electricity costs in the sector the energy efficiency intervention to replace and reengineer features at several pumping stations has commenced.

e. Sanitation 3.47 In 2014, Government allocated $544.6 million for the completion of the sewer system in Central Georgetown of which $292.5 million has been expended as at the end of June.
To this end, works on the sewer system in Central Georgetown have resulted in the operationalisation of 24 sewer pumping stations and installation of 11.6 kilometres of delivery and force mains.

f. Agriculture 3.48 As part of Government’s ongoing efforts to sustain the gains made towards the diversification of the sector a total of $829.4 million was expended in the agriculture sector during the first half of the year from a budget allocation of $1.5 billion.
3.49 As part of ongoing efforts to ensure food security and deepen the agriculture diversification agenda several initiatives progressed during the first half of this year.

Government has continued engaging with investors and preparatory works are in progress on other large scale investments in agriculture, including in such areas as the Canje Basin, similar to the Santa Fe megafarm investment 14 in Region 9.
In the fisheries sector Government continues to promote sustainable development of inland fisheries and aquaculture and continues to offer technical support to fishermen in rebuilding their cooperatives through its various extension and outreach programmes.

Furthermore the licensing system for artisanal fishing has been considerably simplified.
Towards the implementation of a national agriculture research agenda, government has established a research oversight committee which has developed a national agriculture research agenda and plans to hold national research conference in October 2014.
3.50 Towards the development of the local dairy and livestock industry with the aim of promoting food security and reducing the dependency of imported milk a number of key initiatives were undertaken during the first half, namely, the importation of 18 A-Nucleus breed of dairy cows and dairy equipment, the appointment of the Veterinary Board under the Veterinarians Act 2003 and the completion of a national consultation with dairy farmers and stakeholders.
In the area of the expansion of production of the ‘other crops’ sub-sector, experimental plots for carrots and garlic were established while the Guyana shop extended its services to include Region 6 in Port Mourant in May.

3.51 In the area of hydrometeorological services, efforts were taken to enhance Early Warning Systems (EWS) by installing an agrometeorological automatic weather station at La Bonne Intention which is transmitting real time data each hour.
Also, one satellite receiving system was commissioned at the National Weather Watch Center.

These initiatives will serve to reduce vulnerabilities and enhance adaptive capacity to extreme weather events, flood prone areas and climate change by aiding in risk management through better systematic monitoring, assessments and predictions.

g. Drainage and Irrigation 3.52 Government continued its investments to improve drainage and irrigation systems.
To this end, a total of $2.2 billion has been expended in the first half of 2014.

Construction and rehabilitation works have commenced and continued on sluices, revetments, pumps and pump stations.

Works are ongoing at the Northern Relief Channel Project and its related structures.

The Hope/Douchfour public road high bridge is completed and was commissioned in February.

15 Moreover drainage pump stations at No.


66 Village and Paradise have been completed while works are ongoing at the Windsor Forest, Canal Polder and Pine Ground pump station’s and designs have been completed for pump stations at Eversham, No.

43 Village, Gangaram and Lima.

Designs have also been completed for intake structures and sluices at Ann’s Grove, Hope, Annandale and Nancy.
h. Infrastructure Roads and bridges 3.53 The sum of $13.7 billion was allocated in 2014 to further improve our roads and bridges network, of this amount $2.4 billion was expended during the first half of the year with $2.3 billion being spent on roads and $21.8 million on bridges.
3.54 The sum of $551 million was expended towards the completion of the four lane access road to the Cheddi Jagan International Airport (CJIA) and the East Bank Demerara four lane highway which are expected to be concluded by last quarter.

Progress has been made towards the commencement of the West Coast Demerara Road, the supervision consultancy contract has been awarded, and the design review is ongoing.
Works on the East Coast Highway are progressing, and designs have been completed for road reconstruction works for the upgrading of Better Hope to Belfield.

For the first half $788.4 million has been expended on the improvement on rural and community roads.

Air and River Transport 3.55 In the first half of the year, a total of $1.2 billion was expended on CJIA from a budget of $6.6 billion to continue extension works on the CJIA runway.
The sum of $25.8 million has been expended on the maintenance of hinterland airstrips out of a total of $46.1 million.

Sea and River Defence 3.56 In the first half of the year, the sum of $527 million has been expended towards the further strengthening of our sea and river defence infrastructure from a total budget of $1.9 billion.

Critical 16 works are ongoing in Regions 2 to 7.


With respect to the mangrove restoration and replanting programme, 24 community nurseries were established in Buxton and Mon Repos to produce 50,000 seedlings, and 5 sites were identified for spartina grass planting in Regions 2, 4 and 6. i.

Electricity 3.57 In the first six months of 2014, $1.8 billion of the $7.7 billion budget has been expended.
To this end, works have advanced on four substations, upgrading of substation at Onverwagt has progressed, the installation of transmission lines from Columbia to Onverwagt has been completed, as well as the laying of fibre optic cables.

As it relates to the interventions targeting loss reduction, works continued on the rehabilitation and reconfiguration of distribution networks.
3.58 With respect to hinterland electrification, works continued on networks at Matthew’s Ridge and Port Kaituma, with completion expected in the third and fourth quarters respectively, and significant progress has been made on the power plant in Lethem.

As it relates to 540 solar home systems, distribution and installation are targeted for the third quarter.

j.
j.

Information and Communication Technology 3.59 In the first half of 2014, $450.6 million has been expended for the completion of works under the E-Government project.

Civil works have been completed at all of the 54 LTE-A sites, including tests.

Commissioning, which is expected by the end of the third quarter, is pending the completion of power conversion to be done by GPL.

Under the OLPF programme, 4,254 laptops have been distributed in the first half of 2014 in Regions 2, 3, 4, 5 and 6.
It is anticipated that an additional 10,012 laptops will be distributed by the end of 2014.

17 4.

Conclusion 4.1 Continued positive growth in gross domestic product, low consumer price inflation, and a sustainable fiscal deficit, continue to be the hallmarks of our economic performance over the last eight years, and 2014 is poised to continue that trend.
While the outlook remains very favourable, risks could arise from unfavourable global commodity price movements and the uncertainties associated with the current domestic political environment.

However, active management of those risks, and ongoing efforts in the diversification of our economy, are anticipated to result in an overall favourable economic performance at the end of the year.
4.2 The implementation of Budget 2014 will result in expanded and improved services to all Guyanese and, as before, it is imperative that all stakeholders work to ensure that there exists an environment for sustained economic growth and development.
18 APPENDICES APPENDIX A1 MID-YEAR GDP GROWTH RATES BY SECTOR ITEM 2013 ACTUAL 2014 BUDGET 2013 2014 H1 H1 2014 REVISED Agriculture, Fishing and Forestry Sugar Rice Other Crops Livestock Fishing Forestry Mining and Quarrying Bauxite Gold Other Manufacturing Sugar Rice Other Manufacturing Electricity and Water Construction Wholesale and Retail Trade Transportation and Storage Information and Communication Financial and Insurance Activities Public Administration Education Health and Social Services Real Estate Activities Other Service Activities TOTAL Non-Sugar GDP Growth Rate 2.3 -14.4 26.9 4.2 4.3 -6.5 5.0 8.0 -11.0 9.7 30.2 5.2 15.6 1.1 5.0 3.3 2.2 3.3 2.8 11.5 0.7 5.7 8.0 7.1 -14.4 15.6 26.9 5.4 5.6 22.6 -0.9 4.0 5.9 11.2 2.5 3.5 4.0 5.6 -3.0 5.2 6.3 1.0 8.5 7.2 7.5 4.5 8.4 4.2 11.8 2.0 4.0 3.8 9.0 7.6 5.6 5.2 4.0 -32.5 25.1 2.0 1.9 -8.8 53.2 17.9 -11.2 26.8 10.9 66.5 18.6 5.0 1.0 -25.5 38.1 -13.2 -3.0 -17.2 16.1 -3.5 5.9 -32.5 25.1 2.5 5.3 6.6 9.0 -8.8 3.1 9.1 0.0 1.4 1.9 1.2 3.4 3.9 6.0 11.2 66.5 18.3 2.0 -4.2 16.8 6.0 -9.5 3.5 2.0 0.5 2.4 2.8 2.3 3.7 3.2 2.0 7.0 15.6 10.5 5.0 3.3 -8.0 15.0 -5.1 -6.1 -6.5 5.5 8.1 15.6 10.0 5.5 -0.5 12.0 3.5 6.5 4.2 5.6 0.5 4.0 3.8 3.9 4.0 4.5 3.6 Source: Bureau of Statistics 19 Mid-Year Report 2014 GDP Growth Rates by Sector APPENDIX A2 MID-YEAR SECTOR SHARE OF GDP ITEM 2010 H1 2011 H1 2012 H1 2013 H1 2014 H1 Agriculture, Fishing and Forestry 20.1 19.6 18.6 18.4 19.6 Sugar Rice Other Crops Livestock Fishing Forestry 2.8 2.7 5.8 2.7 3.2 2.9 3.4 3.1 5.7 2.6 3.0 1.9 2.1 3.0
 5.5 3.0 3.4 1.6 1.4 3.5 5.3 2.9 3.0 2.4 2.2 4.0 5.4 2.8 2.1 3.1 Mining and Quarrying 10.0 10.4 11.5 12.9 11.1 Bauxite Gold Other Manufacturing Sugar Rice Other Manufacturing Electricity and Water Construction Wholesale and Retail Trade Transportation and Storage Information and Communication Financial and Insurance Activities Public Administration Education Health and Social Services Real Estate Activities Other Service Activities TOTAL 100.0 100.0 100.0 100.0 100.0 Source: Bureau of Statistics 20 Mid-Year Report 2014 Sector share of GDP APPENDIX B1 MID-YEAR BALANCE OF PAYMENTS ANALYTICAL SUMMARY ITEM 2013 ACTUAL 2014 BUDGET 2013 H1 2014 H1 2014 REVISED A Current Account (425.3) (448.1) 1.0 2.0 3.0 Merchandise (Net) 1.1 Exports (f.o.b.)
1.1.1 Bauxite 1.1.2 Sugar 1.1.3 Rice 1.1.4 Gold 1.1.5 Timber 1.1.6 Other 1.1.7 Re - exports 1.2 Imports (c.i.f.)
1.2.1 Fuel & Lubricants 1.2.2 Other Services (Net) 2.1 Factor 2.2 Non Factor (Net) Transfers 3.1 Official 3.2 Private B Capital Account 1.0 2.0 Capital Transfers Medium and Long Term Capital (Net) 2.1 Non - Financial Public Sector Capital (Net) 2.1.1 Disbursements 2.1.2 Amortization 2.1.3 Other 2.2 Private Sector (Net) 3.0 Short Term Capital C D E 1.0 2.0 3.0 Errors and Ommissions OVERALL BALANCE Financing Bank of Guyana net foreign assets Change in Non-Financial Public Sector Arrears Exceptional Financing 3.1 Debt Relief 3.2 Balance of Payments Support 3.3 Debt Forgiveness 3.4 Debt Stock Restructuring (471.4) 1,375.9 134.6 114.2 239.8 648.5 38.5 186.5 13.7 (1,847.3) (574.7) (1,272.6) (307.1) 28.5 (335.7) 353.2 353.2 314.8 7.3 288.6 70.9 221.4 (61.1) (89.4) 217.7 18.9 (8.9) (119.5) 119.5 74.0 - 45.5 2.8 43.6 (1.0) (575.2) 1,370.8 145.4 103.3 215.1 649.1 45.2 193.6 19.0 (1,945.9) (612.6) (1,333.3) (257.4) 30.5 (287.9) 384.5 384.5 426.2 18.8 435.3 90.3 277.4 (67.4) (119.7) 345.0 (27.9) 0.0 (21.9) 21.9 (39.8) - 61.7 15.5 47.2 (1.0) (269.4) (311.6) 595.6 68.9 27.2 83.3 300.8 16.2 93.4 5.9 (907.2) (281.6) (625.6) (126.3) 6.9 (133.3) 168.5 168.5 149.0 2.7 110.6 (8.6) 86.2 (28.8) (65.9) 119.2 35.7 (25.2) (145.6) 145.6 123.9 - 21.7 1.4 20.8 (0.5) (205.6) (304.8) 534.2 66.9 34.4 95.6 226.7 21.3 83.5 5.7 (839.0) (288.5) (550.5) (115.3) (4.3) (110.9) 214.4 214.4 106.9 1.0 132.2 (7.5) 83.6 (31.9) (59.3) 139.8 (26.3) 5.7 (93.0) 93.0 69.6 - 23.4 1.3 22.6 (0.5) (464.7) (578.8) 1,334.1 123.0 102.6 250.7 600.0 45.2 193.6 19.0
 (1,912.9) (612.6) (1,300.3) (269.4) 18.5 (287.9) 383.6 383.6 417.1 18.8 407.5 90.3 277.4 (67.4) (119.7) 317.2 (9.2) 0.0 (47.6) 47.6 (14.1) - 61.7 15.5 47.2 (1.0) Figures: US$m Source: Bank of Guyana 21 Mid-Year Report 2014 Balance of Payments Analytical Summary APPENDIX C1 MID-YEAR MONETARY SURVEY 2013 December 2013 H1 2014 H1 1.0 Total Money & Quasi Money 1.1 Money 1.1.1 Currency 1.1.2 Demand Deposits 1.2 Quasi Money 1.2.1 Time Deposits 1.2.2 Savings Deposits 2.0 Domestic Credit (Net) 2.1 Public Sector (Net) 2.1.1 Central Govt.
(Net) 2.1.2 Public Enterprises (Net) 2.1.3 Other Public Sector (Net) 2.2 Private Sector 2.2.1 Agriculture 2.2.2 Other Manu.

& Process.

2.2.3 Rice Milling 2.2.5 Construction and Engineering 2.2.6 Distribution 2.2.7 Personal 2.2.8 Mining & Quarrying 2.2.9 Other Services 2.2.10 Real Est.

Mortg.

loans 2.2.11 Other 2.3 Financial Insts.
3.0 Foreign Assets (Net) 3.1 Assets 3.2 Liabilities 4.0 Other Items (Net) 313,421.3 115,195.5 60,900.7 54,294.8 198,225.7 24,505.8 173,720.0 123,780.4 (36,143.8) 16,675.8 (40,110.7) (12,708.8) 185,130.0 13,340.6 11,928.1 3,876.5 11,083.0 29,222.9 27,127.9 5,207.7 20,333.6 56,653.1 6,356.8 (25,205.9) 197,026.1 222,078.5 (25,052.4) (7,385.2) 298,881.2 99,964.6 54,006.8 45,957.8 198,916.6 24,291.5 174,625.1 126,405.8 (20,834.8) 21,719.2 (32,180.8) (10,373.1) 169,360.4 11,310.8 11,310.0 2,850.8 10,413.5 27,045.4 26,296.2 4,567.0 17,398.9 52,076.4 6,091.4 313,132.8 110,864.6 60,602.0 50,262.6 202,268.2 25,276.1 176,992.1 141,896.2 (28,564.8) 19,977.3 (32,245.8) (16,296.3) 190,541.8 13,618.8 12,509.4 4,123.9 11,920.4 28,907.7 25,651.3 5,742.5 21,439.3 60,903.0 5,725.5 (22,119.8) (20,080.9) 183,034.9 208,446.2 (25,411.3) 188,308.4 205,311.0 (17,002.7) (10,559.5) (17,071.7) Figures: G$m Source: Bank of Guyana 22 Mid-Year Report 2014 Monetary Survey APPENDIX D1 MID-YEAR CONSUMER PRICE INDEX 2013 DEC 2013 JUNE 2014 JUNE ALL ITEMS FOOD CLOTHING FOOTWEAR AND REPAIRS HOUSING FURNITURE TRANSPORT & COMMUNICATION MEDICAL & PERSONAL CARE EDUC., RECR.
AND CULTL.

SERVICE MISC.
GOODS & SERVICES Source: Bureau of Statistics 23 Mid-Year Report 2014 Consumer Price Index APPENDIX E1 MID-YEAR CENTRAL GOVERNMENT FINANCIAL OPERATIONS 2013 ACTUAL 2014 BUDGET 2013 H1 2014 H1 2014 REVISED Total Revenue Revenue Tax Income taxes Consumption taxes Trade taxes Other Non-tax Private sector Public enterprise & BOG GRIF Inflows 136,494.8 168,190.3 135,661.5 126,509.8 46,128.0 61,659.3 13,411.8 5,310.6 9,151.8 4,111.3 5,040.5 149,627.1 135,255.2 49,951.0 65,770.0 13,988.1 5,546.1 14,371.9 9,121.9 5,250.0 833.3 18,563.2 Total expenditure 172,198.3 215,868.3 Current expenditure Non-interest expenditure Personal emoluments Other goods and services Transfer Payments Interest External Domestic Primary balance Current balance Capital Revenue Capital Expenditure 122,054.1 115,947.7 38,489.0 37,528.2 39,930.5 6,106.3 4,357.6 1,748.8 19,713.8 13,607.5 134,674.7 128,292.8 42,965.2 41,822.6 43,504.9 6,381.9 4,813.1 1,568.9 21,334.4 14,952.4 - - 50,144.2 81,193.6 Overall Balance before Grants (35,703.5) (47,678.0) Grants HIPC relief Original Enhanced CMCF MDRI Other Projects Non-projects 8,671.6 1,586.1 - 872.8 - 713.3 7,085.5 1,493.2 5,592.3 15,242.4 3,303.5 - 922.1 2,021.8 359.6 11,938.9 3,909.2 8,029.7 Overall Balance after Grants (27,031.9) (32,435.6) Financing Net External Borrowing Disbursments of Loans Debt Repayments Rescheduling Guysuco -
 Escrow A/C Overseas Deposit Net Domestic Borrowing 27,031.9 18,545.2 8,749.1 3,592.6 583.0 - 12,805.7 8,486.7 32,435.6 21,089.0 25,956.4 4,196.3 524.1 - (1,195.2) 11,346.6 71,669.8 71,669.8 64,889.8 25,229.8 30,120.8 6,038.1 3,501.1 6,780.1 2,739.6 4,040.5 - 55,842.8 44,940.9 41,928.7 17,739.6 10,101.6 14,087.5 3,012.2 2,109.1 903.1 29,741.1 26,728.9 - 10,901.8 15,827.1 1,336.5 792.3 - 435.9 - 356.5 544.2 544.2 - 17,163.6 (17,163.6) 2,806.8 7,053.9 1,641.2 285.4 - (2,891.3) (19,970.3) 74,228.5 73,804.1
 66,795.2 26,651.0 30,661.9 6,102.3 3,379.9 7,009.0 1,717.5 5,291.5 424.4 71,365.7 56,740.7 53,971.0 19,738.6 15,228.1 19,004.3 2,769.7 2,159.1 610.5 19,833.1 17,063.5 - 14,625.0 2,862.8 1,361.7 1,158.5 - 457.5 522.6 178.4 203.2 203.2 - 4,224.5 (4,224.5) 3,376.1 5,881.3 1,918.7 269.2 - (855.8) (7,600.6) 168,315.8 149,752.6 135,255.2 50,077.7 65,804.0 13,978.1 5,395.5 14,497.3 9,205.8 5,291.5 18,563.2 215,829.8 134,636.2 128,292.8 42,458.4 41,465.4 44,369.1 6,343.4 4,796.6 1,546.8 21,459.8 15,116.4 - 81,193.6 (47,514.0) 15,233.7 3,294.8 - 918.5 2,018.0 358.2 11,938.9 3,909.2 8,029.7 (32,280.4) 32,280.4 21,112.4 24,685.1 4,170.9 522.1 - - 76.2 11,168.0 Net Divestment Proceeds - - - - - Figures: G$m Source: Ministry of Finance 24 Mid -Year Report 2014 Central Government Financial Operations APPENDIX E2 MID-YEAR FINANCIAL OPERATIONS OF THE NON - FINANCIAL PUBLIC SECTOR ITEM 2013 ACTUAL 2014 BUDGET 2013 H1 2014 H1 2014 REVISED Non-Financial Public Sector Revenues 137,767.9 170,045.7 66,309.9 73,460.1 Central Government Public Enterprises 136,494.8 1,273.1 168,190.3 1,855.4 71,669.8 (5,359.9) 74,228.5 (768.4) 170,601.0 168,315.8 2,285.2 Total Expenditure 175,094.7 219,842.5 58,023.1 73,072.3 220,662.6 Current Expenditure Non-Interest Expenditure Personal Emoluments Other Goods and Services Transfer Payments Transfers to the Private Sector Transfers to the public sector Interest External Domestic Current Balance Capital Revenue Capital Expenditure Central Government Public
 Enterprises - - - - - 53,040.7 50,144.2 2,896.5 85,167.8 81,193.6 3,974.2
 13,082.1 10,901.8 2,180.3 16,331.6 14,625.0 1,706.6 86,026.4 81,193.6 4,832.8 Overall Balance before Grants (37,326.8) (49,796.8) 8,286.9 387.9 (50,061.6) Grants HIPC Relief Other 8,671.6 1,586.1 7,085.5 15,242.4 3,303.5 11,938.9 1,336.5 792.3 544.2 1,361.7 1,158.5 203.2 15,233.7 3,294.8 11,938.9 Overall Balance after Grants (28,655.2) (34,554.4) 9,623.4 1,749.6 (34,827.9) Financing Net External Borrowing Net Domestic Borrowing Net Divestment Proceeds 28,655.2 20,630.3 8,025.0 - 34,554.4 20,866.9 13,687.5 - (9,623.4) 4,013.5 (13,636.8) - (1,749.6) 2,307.7 (4,057.2) - 34,827.9 21,510.5 13,317.4 - Figures: G$m Source: Ministry of Finance 25 Mid-Year Report 2014 Financial Operations of the Non-Financial Public Sector APPENDIX E3 MID-YEAR PUBLIC ENTERPRISE CASH FLOW ITEM 2013 ACTUAL 2014 BUDGET 2013 H1 2014 H1 2014 REVISED Receipts Enterprises NIS Contributions Investment Revenue Total Expenditure Total non-interest expenditure Non-financial public enterprise Wages and Salaries Goods and Services Local taxes The NIS Taxes to central government Dividends and transfers Primary surplus or deficit (-) Interest External Internal 59,300.3
90,774.8 399.2 15,728.0 1,129.3 210.0 59,300.3 52,263.1 10,878.3 41,317.4 67.4 6,604.5 432.7 59,793.6 51,860.0 10,993.1 40,836.5 30.4 7,178.1 555.5 200.0 1,604.8 2,677.2 (5,213.5) (594.7) 331.7 38.0 293.7 821.8 214.0 607.8 146.4 146.4 173.7 30.0 143.7 Current surplus or deficit (-) 1,273.1 1,855.4 (5,359.9) (768.4) Capital Expenditure Enterprises NIS Less Government transfers 2,896.5 2,864.3 32.2 3,974.2 3,899.7 74.5 2,180.3 2,173.3 7.0 1,706.6 1,705.8 0.8 132,623.4 116,705.7 15,917.8 15,035.0 882.8 135,171.1 129,561.9 112,540.2 24,875.3 87,267.0 398.0
 15,813.5 1,008.1 200.0 3,061.6 776.4 215.0 561.4 2,285.2 4,832.8 4,758.3 74.5 Overall surplus or deficit before special transfers (-) (1,623.4) (2,118.8) (7,540.2) (2,475.1) (2,547.6) Special Transfers - - - - - Overall surplus or deficit after special transfers (1,623.4) (2,118.8) (7,540.2) (2,475.1) (2,547.6) Financing External Domestic Divestment Proceeds 1,623.4 2,085.1 (461.6) 2,118.8 222.1 2,340.9 7,540.2 1,206.7 6,333.5 2,475.1 (1,068.4) 3,543.5 2,547.6 398.1 2,149.5 Figures: G$m Source: Ministry of Finance 26 Mid-Year Report 2014 Public Enterprise Cash Flow APPENDIX E4 MID-YEAR CENTRAL GOVERNMENT ABSTRACT OF NON-INTEREST CURRENT EXPENDITURE BY CHART OF ACCOUNT Acct Cod Chart of Account 2013 Actual 2014 Budget H1 2013 H1 2014 2014 Revised Total Statutory Expenditure 3,917,636,000 4,115,901,000 1,446,112,742 2,113,343,420 3,929,341,535 601 Total Statutory Employment Expenditure 3,874,832,000 4,073,097,000 1,446,112,742 2,113,343,420 6011 Statutory Wages and Salaries 6012 Statutory Benefits and Allowances 6013 Statutory Pensions and Gratuities 587,139,000 210,693,000 618,263,000 219,834,000 279,439,128 257,343,000 105,041,262 96,802,939 3,077,000,000 3,235,000,000 1,061,632,352 1,759,197,481 602 Statutory Payment to Dependants Pension Funds 6021 Statutory Payments to Dependants Pension Funds 42,804,000 42,804,000 42,804,000 42,804,000 - - 3,886,537,535 466,271,110 185,266,425 3,235,000,000 42,804,000 42,804,000 112,030,098,000 124,176,906,000 40,483,166,133
 51,857,654,566 124,363,465,468 Total Appropriation Expenditure 601 Total Employment Costs 611 Total Wages and Salaries 6111 Administrative 6112 Senior Technical 6113 Other Technical and Craft Skilled 6114 Clerical and Office Support 6116 Contracted Employees 6117 Temporary Employees 613 Overhead Expenditure 6131 Other Direct Labour Costs 6132 Incentives 6133 Benefits and Allowances 6134 National Insurance 6135 Pensions 614 Other Employment Costs 6141 Other Employment Costs 620 Total Other Charges 38,149,125,000
Costs 620 Total Other Charges - - 2,632,246,000 2,979,973,000 1,610,435,384 1,879,804,825 1,555,013,000 1,812,375,000 789,754,739 893,157,455 457,964,000 507,557,000 227,245,016 248,038,322 4,395,681,000 4,408,831,000 4,395,681,000 4,408,831,000 - - - 42,314,416,022 31,810,755,593 4,903,202,913 5,886,473,354 4,041,045,014 3,608,121,330 3,297,535,175 9,484,691,508 589,686,299 6,094,829,429 804,984,003 10,000,000 2,967,758,541 1,804,529,885 507,557,000 4,408,831,000 4,408,831,000 6115 Semi-Skilled Operatives and Unskilled 3,034,049,000 3,304,328,000 1,538,936,295 1,650,301,201 73,880,973,000 81,542,236,000 22,900,763,215 32,225,203,040 82,049,049,446 621 Expenses Specific to the Agency 6211 Expenses Specific to the Agency 235,516,000 235,516,000 250,679,000 250,679,000 98,979,522 98,979,522 127,155,889 127,155,889 622 Materials, Equipment and Supplies 7,333,092,000 8,433,053,000 1,211,777,883 3,789,563,402 6221 Drugs and Medical Supplies 6222 Field
 Materials and Supplies 6223 Office Materials and Supplies 6224 Print and Non-Print Materials 623 Fuel and Lubricants 6231 Fuel and Lubricants 4,696,067,000 5,138,857,000 532,132,574 2,987,183,628 1,001,960,000 1,160,971,000 258,225,286 279,164,427 663,045,000 746,184,000 207,880,842 229,286,523 972,020,000 1,387,041,000 213,539,181 293,928,824 2,222,382,000 2,390,669,000 1,002,160,649 993,236,091 2,222,382,000 2,390,669,000 1,002,160,649 993,236,091 624 Rental and Maintenance of Buildings 3,246,091,000
 3,407,656,000 687,910,195 882,946,993 6241 Rental of Buildings 6242 Maintenance of Buildings 6243 Janitorial and Cleaning Supplies 625 Maintenance of Infrastructure 6251 Maintenance of Roads 6252 Maintenance of Bridges 6253 Maintenance of Drainage and Irrigation Works 6254 Maintenance of Sea and River Defenses 6255 Maintenance of Other Infrastructure Figures: G$ Source: Ministry of Finance 27 Mid-Year Report 2014 Central Government Abstract of Non-Interest Current Expenditure by Chart of Account APPENDIX E4 MID-YEAR CENTRAL GOVERNMENT ABSTRACT OF NON-INTEREST CURRENT EXPENDITURE BY CHART OF ACCOUNT Acct Cod Chart of Account 2013 Actual 2014 Budget H1 2013 H1 2014 2014 Revised 626 Transport, Travel & postage 6261 Local Travel and Subsistence 6262 Overseas Conferences and Official Visits 6263
 Postage, Telex and Cablegrams 6264 Vehicle Spares and Service 6265 Other Transport, Travel and Postage 627 Utility Charges 6271 Telephone Charges 6272 Electricity Charges 6273 Water Charges 3,473,766,000 3,708,739,000 1,298,466,976 1,408,115,678 1,346,196,000 1,507,502,000 549,339,611 592,432,820 434,571,000 42,495,000 828,689,000 821,815,000 415,550,000 49,855,000 853,254,000 882,578,000 133,174,019 117,069,732 17,687,099 15,859,523 273,227,586 329,408,159 325,038,661 353,345,444 7,166,434,000 7,375,264,000
 1,240,987,785 2,661,646,133 475,504,000 564,209,000 166,786,389 230,781,606 5,876,511,000 5,985,007,000 855,223,386 2,231,153,916 814,419,000 826,048,000 218,978,010 199,710,611 628 Other Goods and Services Purchases 5,178,914,000 6,386,927,000 1,935,967,995 2,584,785,796 6281 Security Services 6282 Equipment Maintenance 2,204,903,000 3,033,259,000 873,120,024 1,348,693,245 1,013,624,000 1,057,589,000 392,235,136 458,132,732 6283 Cleaning and Extermination Services 361,195,000 389,952,000 125,246,746 138,262,418 6284 Other 629 Other Operational Expenses 6291 National and Other Events 6292 Dietary 6293 Refreshment and Meals 6294 Other 1,599,192,000 1,906,127,000 545,366,089 639,697,401 5,740,624,000 7,086,412,000 2,160,281,378 2,321,398,485 425,287,000 432,037,000 188,215,875 209,525,594 3,472,737,000 3,665,026,000 1,124,848,297 1,186,526,870 215,000,000 290,448,000 79,066,361 83,109,270 1,627,600,000 2,698,901,000 768,150,845 842,236,751 630 Education Subvention and Training 3,351,733,000 5,843,200,000 1,368,322,851 1,681,738,993 6301 Education Subventions and Grants 6302 Training (Including Scholarships) 1,623,079,000 3,682,589,000 781,481,030 854,147,438 1,728,654,000 2,160,611,000 586,841,821 827,591,555 631 Rates and Taxes and Subventions to Local Authorities 6311 Rates and Taxes 6312 Subventions to Local Authorities 213,941,000 172,398,000 41,543,000 194,086,000 176,551,000 17,535,000 85,666,157 81,659,456 4,006,701 7,063,787 1,978,000 5,085,787 632 Subsidies and
 Contributions to Local & Int Org 22,565,051,000 22,777,343,000 7,526,431,337 10,668,897,015 6321 Subsidies and Contributions to Local Organisations 21,610,233,000 21,803,374,000 7,027,724,422 9,906,003,183 6322 Subsidies and Contributions to International Organisations 954,818,000 973,969,000 498,706,915 762,893,832 633 Refunds of Revenue 6331 Refunds of Revenue 634 Pensions 6341 Non-Pensionable Employees 6342 Pension Increases 635 Other Public Debt 6351 Other Public Debt Grand Total 6,198,000 6,198,000
 10,550,000 10,550,000 3,326,050 3,326,050 902,250 902,250 10,215,858,000 10,894,399,000 3,814,888,671 4,638,465,728 10,894,399,000 174,300,000 183,500,000 65,683,995 63,247,629 2,626,000,000 2,753,000,000 865,765,876 1,123,879,599 - - - - - - - - 115,947,737,000 128,292,807,000 41,929,278,875 53,970,997,986 128,292,807,003 6343 Old Age Pensions and Social Assistance - - Figures: G$ Source: Ministry of Finance 28 Mid-Year Report 2014 Central Government Abstract of Non-Interest Current Expenditure by Chart of Account APPENDIX E5 NON-INTEREST CURRENT EXPENDITURE BY AGENCY Agency 2013 Actuals 2014 Budget 2013 H1 2014 H1 Office of the President Office of the Prime Minister Ministry of Finance Ministry of Foreign Affairs Parliament Office 1,959,301 2,231,388 752,949 980,308 1,194,095 220,476 98,801 93,265 24,027,410 25,056,707 5,753,425 8,468,909 3,051,218 3,321,008 1,487,235 1,781,675 1,254,056 1,364,465 601,167 641,684 Public and Police Service Commission Teaching Service
 Commission Guyana Elections Commission 59,976 67,148 27,036 22,019 82,452 83,375 37,164 38,624 1,538,993 3,235,935 710,710 600,132 Ministry of Local Government & Regional Development 325,408 333,298 128,258 141,280 Public Service Ministry Ministry of Amerindian Affairs Ministry of Agriculture Ministry Commerce of Tourism, Industry & Ministry of Environment Natural Resources & Ministry of Public Works Ministry of Education Ministry of Culture, Youth & Sport 796,611 818,169 328,767 380,892 392,028 411,941 139,802
Ministry of Housing & Water 506,992 516,685 135,413 245,996 Georgetown Public Hospital Corporation 4,894,964 5,309,867 1,936,671 2,385,525 Ministry of Health Figures: G$'000 Source: Ministry of Finance 7,237,365 8,843,654 1,916,291 4,774,920 29 Mid-Year Report 2014 Non-Interest Current Expenditure by Agency APPENDIX E5 NON-INTEREST CURRENT EXPENDITURE BY AGENCY Agency Ministry of Labour, Human Services & Social Security 2013 Actuals 2014 Budget 2013 H1 2014 H1 8,928,421 9,640,666 3,485,760 4,105,630 Ministry of Home Affairs Ministry of Legal Affairs Guyana Defence Force Supreme Court Public Prosecutions Office of the Ombudsman Public Service Appellate Tribunal Region 1: Barima / Waini Region 2: Pomeroon / Supenaam Region 3: Essequibo Islands / West Demerara 2,732,780 2,933,328 1,172,649 1,331,377 Region 4: Demerara / Mahaica Region 5: Mahaica / Berbice Region 6: East Berbice / Corentyne Region 7: Cuyuni / Mazaruni Region 8: Pataro / Siparuni Region
 Essequibo 9: Upper Takatu / Upper Region 10: Upper Demerara / Upper Berbice 2,958,174 3,318,628 1,307,149 1,488,534 1,526,491 1,663,437 709,069 779,657 3,758,339 4,056,239 1,580,960 1,802,898 1,381,342 1,469,943 544,624 633,983 722,262 778,828 241,575 277,915 1,025,776 1,154,056 366,398 435,396 1,803,389 1,979,627 782,217 880,994 GRAND TOTAL 115,947,737 128,292,807 41,929,279 53,970,998 Figures: G$'000 Source: Ministry of Finance 30 Mid-Year Report 2014 Non-Interest Current Expenditure by Agency APPENDIX E6
 NON-INTEREST CURRENT EXPENDITURE BY SECTOR Sector 2013 Actuals 2014 Budget 2013 H1 2014 H1 GENERAL ADMINISTRATION SECTOR Office of the President 34,681,548 37,143,910 10,065,314 13,329,563 1,959,301 2,231,388 752,949 980,308 Office of the Prime Minister 1,194,095 220,476 98,801 - 93,265 Ministry of Finance Ministry of Foreign Affairs Parliament Office Public and Commission Police Service Teaching Service Commission Guyana Elections Commission Ministry of Local Government & Regional Development Public Service Ministry Ministry of Amerindian Affairs ECONOMIC SERVICES SECTOR Ministry of Agriculture 9,647,208 10,316,658 2,666,576 4,873,133 Ministry of Tourism, Commerce Industry & Ministry of Natural Resources & Environment INFRASTRUCTURE SECTOR 652,165 700,969 274,797 303,914 602,861 663,527 271,232 293,814 2,499,366 2,502,645 698,566 846,267 Ministry of Public Works 2,499,366 2,502,645 698,566 846,267 SOCIAL SERVICES SECTOR 32,030,306 37,564,975 11,859,141 16,077,843 Ministry of Education 9,041,240 11,687,213 3,839,676 3,949,774 Ministry of Culture, Youth & Sport 1,421,324 1,566,890 545,331 615,998 Ministry of Housing & Water
 506,992 516,685 135,413 245,996 Georgetown Corporation Public Hospital 4,894,964 5,309,867 1,936,671 2,385,525 Figures: G$'000 Source: Ministry of Finance 31 Mid-Year Report 2014 Non-Interest Current Expenditure by Sector APPENDIX E6 NON-INTEREST CURRENT EXPENDITURE BY SECTOR Sector 2013 Actuals 2014 Budget 2013 H1 2014 H1 Ministry of Health 7,237,365 8,843,654 1,916,291 4,774,920 Ministry of Labour, Human Services & Social Security 8,928,421 9,640,666 3,485,760 4,105,630 PUBLIC SAFETY SECTOR 8,632,368
 9,694,445 4,173,930 4,720,750 Ministry of Home Affairs Ministry of Legal Affairs PUBLIC SAFETY SECTOR Guyana Defence Force Supreme Court Public Prosecutions 8,337,865 9,417,344 4,036,432 4,579,624 294,503 277,101 137,498 141,126 7,877,767 8,623,947 3,709,501 4,130,707 6,688,169 7,272,801 3,222,899 3,552,724 1,081,258 1,193,748 440,648 516,556 101,207 106,655 43,215 51,487 Office of the Ombudsman 2,010 35,015 955 9,227 Public Service Appellate Tribunal REGIONAL DEVELOPMENT SECTOR 5,123 15,728 1,784 713 19,324,148 21,081,731 8,210,222 9,395,008 Region 1: Barima / Waini 1,356,281 1,492,844 514,376 569,661 Region 2: Pomeroon / Supenaam Region 3: Essequibo Islands / West Demerara Region 4: Demerara / Mahaica 2,059,314 2,234,801 991,206 1,194,593 2,732,780 2,933,328 1,172,649 1,331,377 2,958,174 3,318,628 1,307,149 1,488,534 Region 5: Mahaica / Berbice 1,526,491 1,663,437 709,069 779,657 Region 6: East Berbice / Corentyne 3,758,339 4,056,239 1,580,960 1,802,898 Region 7: Cuyuni / Mazaruni 1,381,342 1,469,943 544,624 633,983 Region 8: Pataro / Siparuni 722,262 778,828 241,575 277,915 Region 9: Upper Takatu / Upper Essequibo Region 10: Upper Demerara / Upper Berbice 1,025,776 1,154,056 366,398 435,396 1,803,389 1,979,627 782,217 880,994 GRAND TOTAL 115,947,737 128,292,807 41,929,279 53,970,998 Figures: G$'000 Source: Ministry of Finance 32 Mid-Year Report 2014 Non-Interest Current Expenditure by Sector APPENDIX E7 MID-YEAR GOVERNMENT SUMMARY OF CAPITAL EXPENDITURE BY SECTOR AND
 TYPE OF FINANCING SECTOR AND SOURCE 2013 ACTUAL 2014 BUDGET 2013 H1 2014 H1 1.0 3.0 5.0 6.0 7.0 8.0 9.0 10.0 11.0 12.0 13.0 14.0 Agriculture 1.1 Specific 1.2 Non-Specific Fishing 3.1 Specific 3.2 Non-Specific Power Generation 5.1 Specific 5.2 Non-Specific Manufacturing 6.1 Specific 6.2 Non-Specific Construction 7.1 Specific 7.2 Non-Specific Transport & Communication 8.1 Specific 8.2 Non-Specific Housing 9.1 Specific 9.2 Non-Specific Environment and Pure Water 10.1 Specific 10.2 Non-Specific Education 11.1
 Specific 11.2 Non-Specific Health 12.1 Specific 12.2 Non-Specific Culture/Youth 13.1 Specific 13.2 Non-Specific National Security and Defence 14.1 Specific 14.2 Non-Specific Figures: G$m Source: Ministry of Finance 33 Mid-Year Report 2014 Summary of Capital Expenditure by Sector
 and Type of Financing APPENDIX E7 MID YEAR GOVERNMENT SUMMARY OF CAPITAL EXPENDITURE BY SECTOR AND TYPE OF FINANCING SECTOR AND SOURCE 2013 ACTUAL 2014 BUDGET 2013 H1 2014 H1 15.0 16.0 17.0 18.0 19.
20 Public Safety 15.1 Specific 15.2 Non-Specific Tourist Development 16.1 Specific 16.2 Non-Specific Administration 17.1 Specific 17.2 Non-Specific Financial Transfers 17.1 Specific 17.2 Non-Specific Social Welfare 19.1 Specific 19.2 Non-Specific Overall Total 20.1 Specific 20.2 Non-Specific Figures: G$m Source: Ministry of Finance 34 Mid-Year Report 2014 Summary of Capital Expenditure by Sector and Type of Financing ACTUAL 2013 BUDGET 2014 MID-YEAR 2014 APPENDIX E8 DETAILS OF EXPENDITURE : GENERAL SUMMARY BY PROGRAMME D
AGENCY Y
A N T R A O U E T T R N A E T D L D U I U O R R Y 04 Ministry of Foreign Affairs 1,390,461 1,660,757 3,051,218 - 1,045,617 1,781,675 - - 872,780 872,780 381,276 381,276 129,735 129,735 1,383,791 1,383,791 155,186 155,186 833,568 833,568 988,754 988,754 375,711 375,711 462,080 462,080 179,604 179,604 11,498 11,498 653,182 653,182 01 Office of the President 011 Administrative Services 012 Presidential Advisory 013 Defence and National Security 014 Public Policy and Planning 478,728 80,426 398,302 1,458,834 1,200,502 258,332 1,937,562 1,280,928 21,739 3,218,594 3,218,594 656,633 21,739 - 5,177,895 4,499,522 678,373 - 493,238 1,716,408 76,253 1,259,675 408,085 8,900 400,496 56,237 2,209,646 1,335,928 808,581 65,137 - 21,742 3,846,901 3,846,901 21,742 6,078,289 5,182,829 830,323 65,137 - 02 Office of the Prime Minister 021 Prime Minister's Secretariat 20,469 20,469 1,173,627 1,173,627 1,194,095 1,194,095 - 6,205,810 6,205,810 7,399,905 7,399,905 21,098 21,098 199,378 199,378 220,476 220,476 - 4,383,175 4,383,175 4,603,651 4,603,651 03 Ministry of Finance 4,839,449 16,068,154 20,907,602 3,119,804 5,020,295 29,047,701 4,876,975 16,901,928 21,778,903 3,277,804 22,301,231 47,357,938 031 Policy and Administration 4,501,271 12,324,615 16,825,887 4,988,000 21,813,887 4,521,249 12,945,068 17,466,317 22,284,231 39,750,548 032 Public Financial Management 338,177 3,743,538 4,081,716 3,119,804 32,295 7,233,815 355,726 3,956,860 4,312,586 3,277,804 17,000 7,607,390 041 Development of Foreign Policy 042 Foreign Policy Promotion
 043 Development of Foreign Trade Policy 07 Parliament Office 071 National Assembly 09 Public and Police Service Commission 091 Public and Police Service Commission 10 Teaching Service Commission 101 Teaching Service Commission 11 Guyana Elections Commission 111 Elections Commission 112 Elections Administration 13 Ministry of Local Government 131 Main Office 132 Ministry Administration 133 Regional Administration 14 Public Service Ministry 141 Public Service Management 16 Ministry of Amerindian Affairs 161
 Amerindian Development 21 Ministry of Agriculture 211 Ministry Administration 212 Crops and Livestock Support Services 213 Fisheries 214 Hydrometeorological Services - 325,408 95,782 44,705 184,921 796,611 796,611 392,028 392,028 9,647,208 9,153,251 - 111,286 382,672 71,966 20,264 51,390 312 3,123,184 1,488,247 1,832,761 3,321,008 - - - - - - 9,499 95,782 54,204 1,019,318 1,204,239 24,548 24,548 934,109 934,109 5,415,875 3,122,650 2,263,623 6,438 23,164 821,159 821,159 1,326,137 1,326,137 15,063,083 12,275,901 2,263,623 117,724 405,836 63,332 24,395 142,212 735,489 735,489 295,860 295,860
- 123,312 438,337 - - - - 829,804
- 141,280 37,081 21,257 82,942 380,892 380,892 180,775 180,775 4,633,737 4,463,755 29,820 140,163 4,873,133 4,633,524 - 60,050 179,559 968,260 610,405 357,855 - 93,265 93,265 10,070 10,070 450,649 450,649 1,428,979 1,061,054 367,925 - - 321,683 321,683 414,948 414,948 6,709,712 1,759,197 1,936,570 10,405,479 5,022,360 1,687,352 1,759,197 1,936,570 6,958,930 3,446,550 1,781,675 554,577 1,209,715 17,384 90 90 4,532 4,532 24,320 24,320 - - - - 457 457 567 567 7,249 7,249 276,985 1,256 275,729 - 306,030 306,030 2,175,765 1,329,679 834,479 92 11,514 22,476 22,476 39,191 39,191 607,381 607,381 - 418,265 37,081 22,513 358,671 380,892 380,892 486,805 486,805 7,048,898 5,963,203 834,479 60,142 191,073 Figures: G$'000 Source: Ministry of Finance 35 Mid-Year Report 2014 Details of Expenditure: General Summary by Programme E E E T T T T T
General Summary by Programme ACTUAL 2013 BUDGET 2014 MID-YEAR 2014 APPENDIX E8 DETAILS OF EXPENDITURE : GENERAL SUMMARY BY PROGRAMME D
AGENCY 23 Ministry of Tourism, Industry and Commerce 231 Main Office 232 Ministry Administration 233 Commerce, Industry and Consumer Affairs 24 Ministry of Natural Resources and the Environment 241 Ministry Administration 242 Natural Resource Management 243 Environmental Management 31 Ministry of Public Works 311 Ministry Administration 312 Public Works 313 Transport M P L O Y C O M S E T N S T 111,957 67,540 19,951 24,465 40,370 40,370 460,991 64,838 393,963 2,190 R C H A R G E S 540,207 418,774 43,094 78,339 562,491 54,605 107,727 400,159 E T D L 652,164 486,315 63,045 102,805 602,861 94,975 107,727 400,159 2,038,375 2,499,366 560,689 625,527 1,413,784 1,807,747 63,902 66,093 41 Ministry of Education 3,421,229 5,620,011 9,041,240 53,987 359,511 413,498 411 Main Office 412 National Education Policy -- Imple and Sup 413 Ministry Administration 414 Training and Development 128,747 299,230 355,010 80,552 1,904,234 698,156 415 Education Delivery 2,584,254 2,577,558 1,009,031 1,421,324 44 Ministry of Culture, Youth and Sport 441 Ministry
 Administration 442 Culture 443 Youth 444 Sport 45 Ministry Housing and Water 451 Housing and Water 412,293 95,442 128,472 175,909 12,470 47,417 47,417 75,220 387,928 303,903 241,980 459,575 459,575 46 Georgetown Public Hospital Corporation 2,093,124 2,801,839 461 Public Hospital 2,093,124 2,801,839 209,299 2,203,464 1,053,166 5,161,813 170,662 516,400 479,812 254,450 506,992 506,992 4,894,964 4,894,964 47 Ministry of Health 2,380,339 4,857,026 7,237,365 471 Ministry Administration 472 Diseases Control 473 Primary
 Health Care Services 200,450 144,889 122,935 673,399 692,994 403,642 873,849 837,884 526,578 474 Regional and Clinical Services 1,630,856 2,305,530 3,936,386 475 Health Sciences Education 476 Standards and Technical Services 477 Rehabilitation Services 86,722 73,144 121,343 366,946 306,943 107,572 453,667 380,086 228,914 - - - - - - - - 3,498,552
5,309,867 5,309,867 416,826 7,654,191 3,498,552 5,345,102 8,843,654 902,471 854,932 558,937 241,621 174,966 146,015 608,394 820,824 458,235 850,015 995,790 604,250 28,622 17,048 32,359 312,066 17,428 7,064 2,240 - - - - - - - - 188,419
- - - - - - - - 374,073
Figures: G$'000 Source: Ministry of Finance 36 Mid-Year Report 2014 Details of Expenditure: General Summary by Programme ACTUAL 2013 BUDGET 2014 MID-YEAR 2014 APPENDIX E8
 DETAILS OF EXPENDITURE : GENERAL SUMMARY BY PROGRAMME AGENCY 587,942 8,340,478 8,928,421 - 103,553 9,031,974 634,899 9,005,767 9,640,666 - 148,616 9,789,282 311,313 3,794,317 4,105,630 - Ministry of Labour, Human
2,390,637 11,807,981 48 Ministry of Labour, Human Services and Social Sec.
481 Strategic Planning, Admin and Human Srvs 482 Social Services 483 Labour Administration 484 Child Care and Protection 51 Ministry of Home Affairs 511 Secretariat Services 512 Guyana Police Force 513 Guyana Prison Service 514 Police Complaints Authority 515 Guyana Fire Service 516 General Register Offices 517 Customs Anti Narcotics Unit 52 Ministry of Legal Affairs 521 Main Office 522 Ministry Administration 523 Attorney General's Chambers 524 State Solicitor 525 Deeds Registry 212,954 255,282 3,772,438 2,265,614 486,513 3,843 398,172 65,438 207,541 11,713 23,589 99,698 21,541 51,000 586,566 5,105 207,483 61,055 86,962 4,970 20,877 22,866 5,317 32,931 53 Guyana Defence Force 2,952,273 3,735,897 531 Defence Headquarters 2,952,273 3,735,897 55 Supreme Court 551 Supreme Court of Judicature 552 Magistracy 56 Public Prosecutions 561 Public Prosecutions 57 Office of the Ombudsman 571 Ombudsman 58 Public Service Appellate Tribunal 581 Public Service Appellate Tribunal 71 Region 1: Baruma/Waini 711 Regional Administration and Finance 712 Public Works 713 Education Delivery 714 Health Services - - 286,346
97,344 190,268 751,188 317,481 - - 286,346 286,346 18,708 18,708 - - - 719,196 730,852 184,143 515 179,214 6,998 434,665 418,592 9,899 - 2,358 3,815 554,231 554,231 162,578 44,388 118,191 4,694 4,694 - - 6,719,463
- - - 298,684 298,684 18,709 18,709 15,000 15,000 10,434 10,434 895,064 489,939 405,125 87,946 87,946 20,015 20,015 5,294 5,294 1,492,844 - 26,655
10,687
3,517,866 560,052 10,057 525,229 69,520 10,687 1,712 142,838 1,712 44,698 44,698 24,245 4,649 19,596 350 350 - - 32,145 6,960 6,293 11,464 7,429 8,834 24,950 69,773 12,625 26,655 3,597,422 3,597,422 540,801 404,891 135,910 51,837 51,837 9,227 9,227 713 713 601,806 45,239 73,860 337,759 144,949 6,451 - - 112,125 112,125 8,576 8,576 6,342 6,342 - - Figures: G$'000 Source: Ministry of Finance 37 Mid-Year Report 2014 Details of Expenditure: General Summary by Programme ACTUAL 2013 BUDGET 2014 MID-YEAR 2014 APPENDIX E8 DETAILS OF EXPENDITURE : GENERAL SUMMARY BY PROGRAMME AGENCY M P L O Y C O M S E T N S T 72 Region 2: Poomeroon/Supernaam 1,252,532 721 Regional Administration and
 Finance 722 Agriculture 723 Public Works 724 Education Delivery 725 Health Services 73 Region 3: Essequibo Islands/ West Demerara 731 Regional Administration and Finance 732 Agriculture 733 Public Works 734 Education Delivery 735 Health Services 77,215 59,117 27,751 841,712 246,737 1,889,744 87,065 58,697 16,401 1,393,130 334,451 74 Region 4: Demerara/Mahaica 2,109,251 741 Regional Administration and Finance 742 Agriculture 743 Public Works 744 Education Delivery 745 Health Services 74 Region 5:
 Mahaica/Berbice 751 Regional Administration and Finance 752 Agriculture 753 Public Works 754 Education Delivery 755 Health Services 63,495 65,573 19,617 1,820,268 140,298 989,122 49,078 4,948 27,700 744,722 162,675 R C H A R G E S 806,781 54,409 160,576 51,301 352,129 188,367 843,036 56,697 175,307 61,706 264,847 284,480 848,923 67,452 169,075 87,694 384,713 139,990 537,369 42,658 106,432 66,695 208,096 113,489 E T D L 2,059,314 131,624 219,694 79,052 1,193,841 435,103 2,732,780 143,762 234,004 78,108 1,657,977 618,930 2,958,174 130,947 234,648 107,311 2,204,980 280,288 1,526,491 91,736 111,379 94,395 952,817 276,163 76 Region 6: East Berbice/ Corentyne 2,268,733 1,489,606 3,758,339 761 Regional Administration and Finance 762 Agriculture 763 Public Works 764 Education Delivery 765 Health Services 77 Region 7: Cuyuni/Mazaruni 771 Regional Administration and Finance 772 Public Works 773 Education Delivery 774 Health Services 113,610
674,712 3,318,628 144,132 248,469 113,610 2,515,809 296,608 1,663,437 110,038 111,618 91,689 1,046,833 303,259 - - - - - - 318,041
- - - - - - 134,551
- - - - - - 52,827 1,967 14,226 5,251
138,516 - - - - - - Figures: G$'000 Source: Ministry of Finance 38 Mid-Year Report 2014 Details of Expenditure: General Summary by Programme ACTUAL 2013 BUDGET 2014 MID-YEAR 2014 APPENDIX E8 DETAILS OF EXPENDITURE : GENERAL SUMMARY BY PROGRAMME AGENCY M P L O Y C O M S E T N S T
E E L D L D L AGENCY 78 Region 8: Potaro/Siparuni 277,804 444,458 781 Regional Administration and Finance 782 Public Works 783 Education Delivery 784 Health Services 23,784 10,543 170,032 73,446 35,772 96,263 241,126 71,297 722,262 59,556 106,806 411,158 144,742 79 Region 9: Upper Takatu/Upper Essequibo 556,487 469,288 1,025,776 791 Regional Administration and Finance 792 Agriculture 793 Public Works 794 Education Delivery 795 Health
 Services 80 Region 10: Upper Demerara/Upper Berbice 801 Regional Administration and Finance 802 Public Works 803 Education Delivery 804 Health Services Grand Total 31,158 8,060 10,462 396,870 109,937 1,167,024 59,958 10,932 951,154 144,980 64,915 13,375 91,783 206,046 93,170 636,365 68,145 120,431 327,982 119,807 96,073 21,435 102,245 602,916 203,106 - 1,803,389 128,103 131,364 1,279,135 264,786 E E E - - - - - - - 224,922
108,781 29,497 3,979 6,268 42,070 26,967 224,922 34,652 11,082 125,558 53,630 277,915 29,469 15,503 179,610 53,333 435,396 46,869 9,090 11,590 275,125 92,721 880,994 66,361 15,716 665,788 133,129 - - - 32,225,203
81,193,612 209,486,419 19,632,452 32,225,203 51,855,676 2,113,343 14,625,009 68,594,031 Figures: G$'000 Source: Ministry of Finance 39 Mid-Year Report 2014 Details of Expenditure: General Summary by Programme APPENDIX E9 MID-YEAR CENTRAL GOVERNMENT ABSTRACT OF REVENUE BY HEAD ITEM 2013 ACTUAL 2014 BUDGET 2013 H1 2014 H1 2014 REVISED TOTAL REVENUE 165,848,437 207,271,844 76,733,077 80,158,331 207,392,138 TOTAL CURRENT RECEIPTS 136,494,808 168,190,323 71,669,842 74,228,520 168,315,764 CURRENT RECEIPTS TAXES CUSTOMS AND TRADE TAXES 13,175,853 13,694,386 5,869,820 5,932,291 13,598,886 VALUE-ADDED AND EXCISE TAXES 61,659,336 65,770,000 30,120,803 30,661,938 65,804,000 INTERNAL REVENUE 51,674,579 55,790,851 28,899,159 30,200,929 55,852,351 STAMP DUTIES 445,231 590,650 287,650 384,606 635,650 OTHER TAX REVENUE 484,677 - 362,771 - - I II III IV V FEES, FINES, ETC.
XI FINES, FEES.

ETC.

1,404,855 1,160,690 778,256 553,983 1,200,265 REVENUE FROM PROPERTY AND ENTERPRISE XII INTEREST 2,028 2,300 XIII RENTS, ROYALTIES, ETC.
16,585 12,200 1,006 6,889 994 3,722 2,300 12,200 XV DIVIDENDS AND TRANSFERS 5,760,483 5,250,000 4,760,483 5,291,516 5,291,516 MISCELLANEOUS RECEIPTS XVI MISCELLANEOUS RECEIPTS 1,871,180 25,919,246 583,004 1,198,541 25,918,596 TOTAL CAPITAL RECEIPTS 29,353,629 39,081,522 5,063,236 5,929,811 39,076,374 CAPITAL RECEIPTS XXI MISCELLANEOUS CAPITAL REVENUE 713,308 2,381,405 356,478 701,025 2,376,257 XXII EXTERNAL GRANTS 7,085,495 11,938,908 544,158 203,208 11,938,908 XXIV EXTERNAL LOANS 21,554,827 24,761,209 4,162,600 5,025,578 24,761,209 Figure: G$'000 Source: Ministry of Finance 40 Mid-Year Report 2014 Central Government Abstract of Revenue by Head APPENDIX F1 MID-YEAR EXTERNAL DEBT STOCK SUMMARY ITEM 2013 ACTUAL 2014 BUDGET 2013 H1 2014 H1 2014 REVISED TOTAL EXTERNAL DEBT 1,246.03 1,343.54 1,248.35 1,226.57 1,343.54 1.0 Multilateral IBRD IDA IADB CDB CMCF IMF IFAD EEC EIB OPEC FUND CDF 2.0 Bilateral 2.1 Paris Club Creditors: USA -PL 480 UK Canada Germany -KFW Netherlands Denmark Norway Sweden France Japan T&T Russia Italy 2.2 Non-Paris Club Creditors: Venezuela Argentina Kuwait Libya China India UAE Bulgaria Serbia 3.0 Private Creditors 3.1 Suppliers 1/ 3.2 Financial Markets/Bonds 2/ 0.00
Notes: 1/ Includes ITT and EPDS Debts 2/ Includes Bonds (Ruston Bucyrus), Lloyds Bank (O/Draft), GPL (RBTT Debenture) and Barclays Bank Debts Figures: US$m Source: Ministry of Finance 41 Mid-Year Report 2014 External Debt Stock Summary APPENDIX G1 MID-YEAR EXPENDITURE OF KEY SECTORS SECTOR 2013 Actual 2014 Budget 2013 2014 H1 H1 Education 28,486,312,814 32,304,470,440 11,057,181,526 12,071,651,358 Health 17,712,739,749 21,459,310,970 5,411,621,092 9,180,939,794 Agriculture 16,892,880,000 18,151,413,000 5,543,757,935 7,593,862,759 Infrastructure 19,588,351,000 28,468,068,000 3,979,469,498 5,387,403,707 Housing and Water 5,605,577,000
 7,332,796,000 1,551,571,776 3,150,430,964 GRAND TOTAL 88,285,860,563 107,716,058,410 27,543,601,827 37,384,288,582 Figures: G$ Source: Ministry of Finance 42 Mid-Year Report 2014 Expenditure of Key Sectors