Tag Archives: Finance Minister- Winston Jordan

Guyana to produce 1M barrels of oil per day by 2025 – Finance Minister

03/08/2019 – 12:59 am

 – Finance Minister Winston Jordan tells Canadian forum

March 05, 2019 – Kaieteur News

Stabroek Block

Given ExxonMobil’s prolific finds in the Stabroek Block, Guyana is in line with its 2025 timeline to produce one million barrels of oil per day. This was recently noted by Finance Minister, Winston Jordan. He was at the time delivering remarks at the opening of the Prospectors and Developers Association of Canada (PDAC) Convention in Toronto, Canada.

Speaking at the opening ceremony of the event which concludes on March 06, 2019, Minister Jordan said that in the past four years, Guyana has featured repeatedly in the international press for the more than five billion barrels of recoverable oil discovered off-shore by ExxonMobil in partnership with Hess and CNOOC.  Continue reading →

By guyaneseonline | Posted in Business, Economics/Finance, Guyana, Oil Exploration | Also tagged , | Comments (0)

Guyana: 4.6 percent growth targeted in G$300.7B Budget for 2019

11/28/2018 – 12:05 am

Guyana: 2019 Budget Unveiled  

Guyana’s real Gross Domestic Product (GDP) is expected to grow by 4.6 percent, an indication the economy is on the rise, the Finance Minister said.

A 99-page, five-hour budget speech may have elicited a few yawns in the chambers of the National Assembly, but would have sent quite a few smiles for businesses across the country, after Finance Minister Winston Jordan unveiled a number of tax concessions for businesses.

The growth projection is based on the steady growth in the global economy and stable commodity prices. This growth is expected to be reflected in the major sectors.           Continue reading →

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Guyana: Highlights of $267.1B budget for 2018

11/29/2017 – 12:54 am

 Nov 28, 2017 – Kaieteur News

Finance Minister, Winston Jordan

. Old age pension increased by $500
· Over $2.9B to support Local Government Elections 
· Economy projected to meet 2.9 % growth rate 
· Govt. to bring all property values up-to-date
· $14.3 billion allocated for road upgrades
· $250 million works on stellings at Bartica and Leguan

By Kiana Wilburg

Under the rubric, “The journey to the good life continues,” Finance Minister, Winston Jordan, presented to the nation yesterday, a $267.1B budget. This is a 7.1 percent increase over the revised Budget 2017.

Continue reading →

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Guyana: IN DEFENSE OF OIL – By Verian Mentis-Barker

08/27/2017 – 12:15 am

IN DEFENSE OF OIL

TOPICS: 

Guyana, Oil, Exxon,CorruptionPOSTED BY: VERIAN MENTIS-BARKER AUGUST 25, 2017

“Matters not if Guyana secured a good or bad deal, we got a deal…time to move on” – Finance Minister Winston Jordan, on oil.

Maybe on other matters, this swashbuckling declaration might have garnished the Minister some affirmation but he was referring to a company whose earnings are greater than his country’s Gross Domestic Product  and wields more economic power than his country does on the world stage…. even though it’s a corporation.    Continue reading →

By guyaneseonline | Posted in Business, Commentary, Government, Guyana, Oil Exploration, Personalities, Politics | Also tagged , , , , | Comments (0)

Guyana:….House passes legislation to go after ‘crooks’ and ‘tax dodgers’

01/06/2017 – 1:09 am

Guyana:….House passes legislation to go after ‘crooks’ and ‘tax dodgers’

Jan 06, 2017- Kaieteur News – By Kiana Wilburg

The Value Added Tax Amendment Bill No. 27/2016 was the centre of a heated debate yesterday in the National Assembly.
The Opposition wasted no time in discrediting the Amendments to the Bill stating that it has the makings of an instrument that will do nothing more than undermine the constitutional right of citizens to travel outside of Guyana if their taxes are not up to date.

The PPP stressed that the Bill will give the Guyana Revenue Authority (GRA) the power to prohibit persons from leaving without having to present a court order, give prior warning, or even a hearing. It is a power the opposition party fears, will be abused and leave citizens open to the whims and fancies of the Commissioner General of GRA.   Continue reading →

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Guyana, India ready to sign US$50 million road construction deal

03/16/2016 – 12:27 am

Guyana, India ready to sign US$50 million road construction deal

Posted by: Denis Chabrol in Demerara Waves – March 15, 2016

President David Granger and the Prime Minister of India, Narendra Modi meeting in New York in September, 2015.

President David Granger and the Prime Minister of India, Narendra Modi meeting in New York in September, 2015.

Guyana and India are set to sign a US$50 million agreement to expand the road network in East Demerara. The Finance Minister, Winston Jordan is  on Wednesday (March 16, 2016), expected to sign an agreement with EximBank of India for the construction of a road to link the East Coast and East Bank Demerara, according to the Finance Ministry.   Continue reading →

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Budget Debate: “In two or three years the economy will flat-line”- Jagdeo forecasts

08/23/2015 – 5:14 am

“In two or three years the economy will flat-line”- Jagdeo forecasts

  • Saturday, 22 August 2015 – Demerara Waves
  • Photo: PPP parliamentarians walking out of the National Assembly’s Chamber.

PPP parliamentarians walking out of the National Assembly's Chamber.

Immediately after pledging solemnly to work with the government to improve the lives of Guyanese, Opposition Leader Bharrat Jagdeo and his colleague People’s Progressive Party Civic (PPPC) parliamentarians walked out of the House.

During in his estimated 90-minute contribution to the 2015 National Debate, Jagdeo lambasted the Finance Minister Winston Jordan for crafting a budget that would fail to stimulate the economy.
“It does not respond to the concerns of the people. It doesn’t focus on creating jobs, it doesn’t focus on creating wealth. It focuses on redistribution of wealth,” he told the House.
Continue reading →

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GRA Tax exemptions, concessions last year amounted to quarter of Nat’l Budget

08/13/2015 – 2:25 am

GRA Tax exemptions, concessions last year amounted to quarter of Nat’l Budget

AUGUST 12, 2015 | BY KNEWS | FILED UNDER NEWS

“GRA was politically compromised, lacked accountability” – Jordan

Tax exemptions and concessions granted last year amounted to an astounding $55B (US$275M), with the new Government on Monday vowing widespread reforms to fix a broken system.

During his maiden National Budget presentation on Monday, Finance Minister Winston Jordan made it clear that the situation was totally unacceptable with evidence that the Guyana Revenue Authority (GRA) was politically compromised under the previous administration of the People’s Progressive Party/Civic (PPP/C).

 However, according to Jordan, on assumption to office, they found a tax system that is characterized by high rates. This resulted in “innumerable requests for tax exemptions and concessions, which totaled $55 billion, in 2014.”   Continue reading →

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More Details on Finance Minister Winston Jordan’s $221B Budget for 2015

08/12/2015 – 12:36 am

Finance Minister unveils $221B Budget

AUGUST 11, 2015 – KAIETEUR NEWS – By Kiana Wilburg

·     Salaries move from $39, 540 to $50, 000
·    Old age pension increased from $13, 125 to $17, 000
·    Gold miners exempted from paying custom duties on fuel, 10 other items
·    Berbice Bridge toll for passenger cars, buses reduced from $2, 200 to 1900
·    Uniform Voucher increased from $1,500 to $2,000
·    Sausages and 21 other items to attract zero VAT

 —

Continue reading →

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Guyana Govt. retrieves almost $10B from disused bank accounts

06/11/2015 – 6:04 pm

Govt. retrieves almost $10B from disused bank accounts

June 11, 2015 | By | Filed Under News
Finance Minister, Winston Jordan Photo: Finance Minister, Winston Jordan

The new Government has managed to retrieve almost $10B lying in “old” bank accounts, a senior Government official confirmed yesterday.
In the past weeks, the Ministry of Finance and its departments have been conducting exercises to determine the state of the country’s finances.

It is unclear why the previous People’s Progressive Party/Civic (PPP/C) government kept that amount of money lying around in virtually unused accounts.  Continue reading →

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