BUDGET AT A GLANCE 2012

Budget 2012 is presented under the Theme “Remaining on Course, United in Purpose, Prosperity for All”

Key Achievements over the term

• The domestic economy achieved real growth averaging 4.4 percent over the past five years.
• External reserves rose three fold since 2006 to US$798 million
• External debt reduced from 658 percent of GDP at end 1991 to 47 percent at end 2011.
• Fiscal Deficit reduced from 11.2 percent in 2006 to 4.4 percent in 2011
• Exchange rate remained stable, interest rates trended downwards and inflation remained with acceptable norms at 3.3 percent in 2011
• Credit to the Private Sector has risen from G$61.8 billion in 2006 to G$134.6 billion on 2011, a 118 percent increase.
• Foreign Direct Investment has amounted to US$1.3 billion over the past five years.

Key Achievements in 2011

• Guyana’s economy recorded real growth in GDP of 5.4 percent, within which non-sugar GDP grew even more rapidly by 5.6 percent. This represented the sixth consecutive year of positive growth.
• Sugar production amounted to 236,506 tonnes, representing a 7.1 percent increase.
• Rice production amounted to 401,904 tonnes, representing 11.3 percent increase in output and the highest level of production ever.
• The other agriculture subsectors grew by 5.7 percent, reflecting returns in the Grow more Campaign and the Agricultural Diversification programme.
• Gold declarations amounted to 363,083 ounces, a 17.7 percent increase
• Bauxite production amounted to 1,818,399 tonnes, a 68 percent increase

• Manufacturing sector grew by 10.8 percent.
• Financial and insurance services sector grew by 9.7 percent.

Sector Highlights

B. Low Carbon Development Strategy

2011

• At the end of 2011, two tranches amounting toUS$70 million had been transferred by Norway to the Guyana REDD+ Investment Fund. Approval has been given for the first of GRIF funded projects LCDS projects valued at US$7 million, through which the Government will strengthen the Guyana Forestry Commission’s capacity for implementing REDD+ activities.
• Under the GRIF Government proposes to provide US$80 million of equity to the Amaila Falls Hydropower Project.
• Amerindian Communities will benefit form land titling and demarcation project, the Amerindian Development Fund will channel funds directly into Amerindian communities to support the development of priority community projects.
• The Cunha Canal will be rehabilitated, which is the first climate change adaptation project under the LCDs, which will help reduce the risks of flooding of areas along the East Bank of Demerara.

2012

• Establishment of institutional structure for the Protected Areas Commission and oversee the implementation of the Kanuku Mountains Management Plan and the Kaieteur National Park Management Plan and produce a Shell Beach Protected Areas Management Plan.

C. Transforming the Economy

 (a) Modernising the Traditional Sectors

Sugar

2012

• Operation of the Enmore packaging Plant at full capacity, subject to the availability of canes.
• Increase the industry average of private cane production from 8 percent in 2011 to 12 percent in 2012.

Rice

2011

• Total acreage under cultivation is now at its highest level ever at approximately 170,000 acres.
• Two new varieties of rice were released to farmers in 2011.
• 14 new varieties of rice currently being tested.

2012

• The commissioning of an additional paddy seed plant in 2012 will result in the production of 20,000 bags of high quality paddy seeds annually.
• Work is ongoing with Guyana National Bureau of Standards to certify the rice testing laboratory and to achieve ISO-Standards which is a critical step in strengthening export capacity and improving access to wider markets.
• Work is ongoing to encourage large scale rice production in new areas such as the Rupununi.

Bauxite

2011

• Value of investment in the bauxite industry since privatisation has been in excess of US$200 million.

2012

• BOSAI will start construction of a third kiln aimed at expanding RASC production by 150,000 tonnes per annum and the production of a facility to produce 75,000 tonnes per annum of mullite. These two projects will create 500 jobs during construction and over US$100 million would be invested.
• BCGI will be expanded as US$30 million of mining equipment will be delivered this year.
• BCGI will invest US$80 million over the next four years to expand the Berbice operation to a level capable of producing 5 million tones of bauxite annually.
• First Bauxite Inc. is projected to start construction of its refractory operations in Bonasika in the latter part of 2012, with an investment of US$120 million.

Gold

2011

• In relation to small and medium scale gold mining, over US$100 million was invested in 2011.

2012

• Guyana Gold Fields Inc. is expected to invest US$600 million in its Aurora Gold Project, which will see the creation of 250 jobs during the development phase and 200 during the mining phase.
• ETK Inc. /Sandspring Resources Ltd. Is projected to invest US$400 million in the Toroparu mine, which will see the creation of 300 jobs during the development phase and 200 during the mining phase.

(b) New and Emerging Sectors

(i) Information and Communication Technology

2011

• Over 3,000 persons are employed in business process outsourcing with 10 Call Centres currently in Operation.
• One Laptop Per Family (OLPF) programme was launched in 2011 and $1.6 billion was spent to procure 27,000 laptops, of which 10,850 laptops were distributed in Regions 2, 3, 4,5,6,7 and 10.
• 3,569 laptop recipients completed the mandatory 10 hours training programme.

2012

• The ICT sector will create an additional 6,000 jobs in the near term and a further 15,000 jobs in the medium term.
• $3.1 billion has been budgeted to continue the installation of some 580 kilometres of high speed fibre optic network form Lethem to Providence, commencing a high speed fibre optic backhaul network connecting Moleson Creek to Anna Regina and a Data Centre at Providence.
• $3.7 billion has been budgeted for the OLPF programme, which will see an additional 63,000 laptops being procured
•  

(11) Extractive Industries

Oil

2011

• Offshore drilling rig Ocean Saratoga has began drilling the Eagle Prospects which has been identified by CGX Resources as having potential for discovery, while Atwood Beacon is drilling the Jaguar prospects for a consortium led by Repsol.

2012

• Repsol and CGX will continue the offshore drilling while coastal onshore and Rupununi activity is expected to continue.

Manganese

2011

• Reunion Manganese Inc. has invested US$50 million, creating some 250 jobs and some 35 holes have been drilled so far as part of its feasibility study to date.

2012

• Guyana could witness the development of one of the largest manganese mines in the Region by 2013.
• In the development phase, 1,000 jobs would be created and Investment in the sector would be in excess of US$300 million.

Uranium and Rare Earth Elements

2011

• Three companies are currently prospecting for radioactive minerals in Guyana, of which Prometheus Resources of Canada is at the most advanced stage of drilling in Kurupung, Middle Mazaruni.

2012

• Government has invited expressions of interest for the exploration if rare earth elements which are a vital component in the electronics industry.

 (iii) Agricultural diversification

2011

• A total of $1.4 billion was expended on Government’s agro-diversification programme.
• Plant, Animal and Seeds Acts tables and passed and Food Safety Bill drafted.
• Over 8000 farmers trained in crop and animal husbandry
• The Hinterland rice and bean and spice project commenced.
• Over 1,000 farmers trained in organisational and enterprise development.

2012

• $1 billion is allocated to the agriculture sector to advance efforts towards the diversification and modernisation of the sector.
• Government will continue to develop 5,500 acres of uncultivated land between Supenaam and Riverstown.
• 50 large scale farmers would benefit from the use of improved technology on their farms, which would result in increased production.
• The germplasm and tissue culture laboratory will be equipped and would capable of producing over 50,000 seedlings

 (iv) Tourism

2011

• Visitor arrivals rose in 2011 to 156,910 representing a 4.5 percent over 2010.
• Industry capacity has been increasing steading, with hotel rooms amounting to 3,000 today.

2012

• Efforts to advance the Marriott Hotel will continue under a public-private partnership. This project is estimated at US$58 million and is a 197 room hotel and will include entertainment facilities such as a casino, nightclub and boardwalk.

• $200 million is allocated directly to the tourism Sector for the continued expansion and development of the tourism sector.
• Guyana will host the Caribbean Conference on Sustainable Tourism Development, which will showcase our tourism product to 250 delegates and over 30 international journalists.
• Destination awareness will be raised by facilitating high quality video documentaries made by such agencies as the Discovery Channel and the British Broadcasting Corporation.

(iv) Small Business

2011

• 500 small business owners were exposed to such subjects as the procedures for registration and export, standards, entrepreneurship, packaging and good management practices.
• Under the Women of Worth (WOW) programme, over 1,188 loans were granted to beneficiaries in Regions 2, 3, 4, 5, 6, 8, 9 and 10.
• 400 single parents acquired the skills needed to become marketable and to improve their financial status.

2012

• $22 million has been budgeted to enable the Small Business Bureau to discharge its functions.

• Government will spend US$10 million over the next four years to finance Small and Medium sized Enterprises (SMEs) development. Of this amount US$1.7 million is budgeted in 2012 for the operationalisation of the Small Business Development Fund.
• A skill voucher scheme will be launched to support and develop technical and business skills for 500 SMEs.
• Under the WOW programme an additional 1,720 female single parents are expected to be granted small business loans.

D. Physical Infrastructure for Transformation

a. Roads and bridges

2011

• $8.7 billion was expended on the construction, rehabilitation and maintenance of our land transport network, of which $6.9 billion was spent on roads and $1.8 billion on bridges.
• $1 billion was spent to complete 23 km of all weather roads in Black Bush Polder and East and West Canje.
• $1.7 billion spent on designs for widening Sheriff Street to Mandela Avenue and preparatory works for the widening of the East Coast Demerara Four Lane from Better Hope to LBI.
• $3.8 billion was expended on reconstruction and rehabilitation and maintenance of urban, rural and hinterland roads in all the Regions.

2012

• $11.8 billion has been budgeted for roads and bridges, of which $10.9 billion will be spent on roads and $964 million on bridges respectively
• $1.3 billion has been budgeted for the completion of the completion of 30.5 kilometres of all weather roads in the Black Bush Polder , East and West Canje area
• $2.2 billion has been budgeted for the modernisation and expansion of the four lane access road to the Cheddi Jagan International Airport, extension of the four lane highway from Providence to Diamond and the widening of the highway from Better Hope to Golden Grove on East Coast Demerara.
• $5.5 billion has been allocated to construct rehabilitate and maintain urban, rural and hinterland roads.
• $2.4 billion has been allocated for the upgrade of 85 km of existing roads and 110 km of virgin roads from Mabura Hill Road to Amaila Falls.

(b) Air and River Transport

2011

• Concept design for the modernisation of the Cheddi Jagan International Aiport was finalised.

• Ogle International Airport runway was extended by 2,200 feet.
• $40 million was spent on the maintenance of 43 domestic airstrips.
• $416 million was spent on the modification of the Parika and Supenaam stellings to accommodate the new roll-on roll-off ferries.

2012

• $4.5 billion budgeted for the upgrade, expansion and modernisation of CJIA.
• $180 million is allocated for the rehabilitation of airstrips in Lethem, Imbaimadai and Ekereku Bottom the ongoing maintenance of 43 domestic airstrips.
• $717 million is budgeted for the docking and rehabilitation of vessels and acquisition of spares.
• Parika and Supenaam stellings will be completed to accept the new roll-on roll-off ferries, which will accommodate 800 passengers, 44 cars or 20 trucks.

c. Sea and River Defence

2011

• $2.7 billion was spent on the protection of approximately 10 km of sea defence in Regions 2, 3, 4, 5, 6, and 7.

2012

• $2.9 billion budgeted for the continued construction, reconstruction, rehabilitation, restoration and maintenance of sea and river defence structures.
• Replanting, restoration and protection of 10 km of mangrove is targeted for Regions 2, 3, and 4.

(d) Drainage and Irrigation

2011

• $6.7 billion was spent on drainage and irrigation systems, which include 10.3 km of earth works for the Northern Relief Channel at Hope / Dochfour.
• $234 million was spent to procure excavators and bulldozers for the Aurora Land Development Project.

2012

• $7.8 billion has been budgeted for the continuation of work on the national drainage and irrigation system. This include:
• • Advancement of work on the Northern Relief Channel at Hope / Dochfour
  • Rehabiltation of the Cunha canal
  • 8 super long reach excavators and two pontoons will be procured.
  • 8 pump stations will be constructed and 8 fixed pumps will be procured to drain a total of 56,000 hectares of lands in Windsor Forest, Cane Grove, Enterprise, Black Bush Polder, Skeldon, Albion and Rose Hall.

(e) Hydrometerology

2011

•  National Water information system was launched and two automated weather stations were procured for Timehri and Parika.
• Numeric Weather Predication model for Guyana was developed which will improve the 3 to 7 day forecast.

2012

• $391 million has been budgeted for the continued modernisation of the Hydro meteorological network.

(f) Energy, Power Generation and Supply

2010

• $11.7 billion was spent in the power sector.
• US$18.9 million was spent on the expansion of Kingston Power Plant by 15.68 MW
• $3.3 billion was spent on finalization of designs and shipment of major equipment for the construction of new substations and transmission lines.
• 1,729 solar panels were distributed in areas such s Kamarang, Kato, Mabaruma, Aishalton and Lethem.
• Government continues to make progress on the Amaila Falls Hydropower Project (AFHP), which is being developed as a public-private partnership using a 20 year Build Own Operate Transfer (BOOT) model.
• AFHP is a 165 MW project, estimated to costs US$840 million

2012

• $1.8 billion will be invested for the installation of a submarine cable linking Kingston and Vreed-en-Hoop, constructions and upgrading several sub-stations.
• $50 million will be spent on the design of a 330 kW micro-hydropower project at KATO.
• Distribution of 8,000 solar panels.

E. Investment in People

a. Education.

2011

• Government expended a sum of $24 billion over the last year in the sector.
• $1 billion was spent on the Cyril Potter College.
• $47 million spent on the establishment of the Educational Television Broadcasting Service.
• $768 million was spent on the operational costs of the 2 campuses of University of Guyana and $450 million on student loan.
• Over $1 billion was spent on the National School Feeding programme which benefited more than 63,000 students.
• $266 million was spent on ensuring each child had a uniform for school.
• $1.8 billion was spent on technical and vocational training.
• $2.8 billion was also expended towards the maintenance, rehabilitation, extension and construction of educational facilities throughout Guyana

2012

• $26.5 billion has been allocated towards the education sector.
• $1 billion allocated for the National School Feeding programme
• $1.2 billion has been budgeted for teacher training
• 3,500 teachers trained by end 2012
• University of Guyana has been allocated $900 million towards the operations and maintenance of the Turkeyen and Tain campuses.
• $80 million has been for curriculum reform for the School of Earth and Environmental Sciences at the University of Guyana.
• $450 million has been provided for student loans.
• $3.3 billion has been allocated for the continued maintenance, rehabilitation, extension and construction of educational facilities countrywide.

b. Health

2011

• Government expended $14.5 billion in 2011 towards the implementation of the National Health Sector Strategy 2008-2012.
• $998 million was expended for the construction, rehabilitation and maintenance of health care facilities including the new 285 bed facility at GPHC.
• Over $300 million was expended on training of medical and paramedical professionals.

• 15,147 infants benefited from over 1.3 million sachets of sprinkles, while 10,154 pregnant mothers received 913,860 sachets sprinkles.

2012

• $16.9 billion budgeted for the continued modernisation of the sector.
• $672 million budgeted for construction of a 100 bed state of the art specialty hospital
• $948 million has been budgeted for the construction and maintenance of health sector buildings and infrastructure nationwide
• $387 million budgeted for the training and improvement of public health personnel.
• $240 million budgeted for continued distribution of antenatal and infant sprinkles.

c. Housing

2011

• Over $3.3 billion was expended in the housing sector
• 25 core houses were completed and another 59 commenced.
• Allocated 8,981 house lots as well as the distributed 7,325 land titles
• In excess of 1,000 persons accessed low interest financing valued at over $5.6 billion.
•  One –Stop-Shop outreaches in benefited over 36,000 persons.

2012

• $3.6 billion is allocated to the housing sector
• Allocation of 6,500 house lots and the processing and distribution of 4,000 land titles.
• 200 core houses will be constructed

d. Water

2011

• $1.8 billion was expended in the water sector
• Construction and upgrading of distribution and transmission mains to the  benefit of over 90,000 persons.
• 10 km of transmission mains were rehabilitated

2012

• $2 billion has been allocated to the water sector to  improved the quality of water supply
• $900 million is budgeted for the installation of approximately 20 km of transmission and distribution systems.
• $400 million is allocated for the construction of 2 new water treatment plants at Wisroc and Amelia’s Ward to the benefits of approximately 30,000 residents
• $150 million budgeted for the installation of 10 photovoltaic systems, upgrade 5 existing water supply systems to the benefit of over 11,000 persons in Hinterland Communities.

(e) Sanitation

2011

• $588 million spent on the operation of the Haags Bosch Sanitary Landfill.

2012

• $503 million budgeted to commence rehab of 9 sewer-pumping stations,
• $678 million is budgeted to continue the construction of the waste –receiving cell the Haags Bosch Sanitary Landfill

(f) Vulnerable groups and Other Targeted Interventions

i. Children

2011

• The Child Care and Development Services Act 2011 and the Custody, Access, Guardianship and Maintenance Act 2011 were passed
• 489 children have been removed from abusive situations and placed in safe homes
• The national foster care programme placed 55 children in foster homes
• the Sophia Care Centre was commissioned in 2011, with capacity to accommodate 100 children

2012

• upgrade the Mahaica home to provide care for our young girls who have been victims of abuse
• Family court is expected to commence its sittings in 2012.  

ii. Youth

2011

• 2,900 out of school youths were trained under the National Training Project for Youth Empowerment (NTPYE) programme, Youth Entrepreneurial Skills Training (YEST) Programme and the Board of Industrial Training.
• $58 million was spent  on infrastructural works at the Smythfield Drop-In Centre
• the National Aquatic Centre at Liliendaal was opened

2012

• 2,850 young people targeted to be trained and $66 million allocated to equip and rehabilitate our training centres.
• $675 million has been earmarked for the continuation of the athletic track at Leonora, completion of the Bartica Community Centre, upgrading of the National Gymnasium, Cliff Anderson Sports Hall, National Stadium and Colgrain Pool
• $160 million has been allocated for the upgrading of sports grounds countrywide
• a 25-metre warm-up pool would be constructed at the National Aquatic Centre, Liliendaal.

iii. Single Parents

2011

• Under the WOW programme, over 1,000 single mothers accessed loans for investment in a small business
• The Single Parent programme under BIT trained 423 parents in cosmetology, computer repairs and electrical installation
• Guyana Women’s Leadership Institute (GWLI) empowered over 230 women through several capacity building programmes offered at the institute, including life skills and for the first time information technology

2012

• training will be provided to 2,000 women in areas such as small business management, basic accounting and self improvement

iv. Elderly

2011

• Infrastructural works continued at the Palms Geriatric Institution

• Financial support in the form of monthly old age pension benefited over 42,000 of our pensioners

2012

• With effect from May 1, 2012 old age pension is $8,100 monthly, a 8 percent increase over 2011 and more than double the rate of $3,500 paid in 2006

v. Homeless

• The Centre for Rehabilitation and Reintegration at Onverwagt, is expected to benefit over 300 persons.
• Night Shelter continues to provide accommodation, meals and medical assistance to more than 200 persons on a daily basis

vi. Indigenous Communities

2011

• Under the Amerindian Development Fund (ADF), $87 million was provided for projects and programmes arising from community development plans.
• Under the Secure Livelihood Programme $22 million was expended om monitoring and follow up training.
• The Hinterland Scholarship programme awarded 112 scholarships.

2012

• Under the ADF $165 million is budgeted for community programmes, issuance of land titles to 13 villagesand theSecure Livelihood Programme.
• Under the GRIF, funding will be provided to support the socioeconomic development of Amerindian communities through the implementation of their community development plans.

vii. Other Vulnerable Communities

2011

• 9,000 persons received monthly support through the public assistance programme

2011

• With effect from May 1, 2012 Public Assistance is $5,900 monthly, a 7 percent increase over 2011 and more than double the rate of $2,350 paid in 2006

F.         Enhancing Security and Justice

a. Public Safety and Security

2011

• Security sector expended $15.3 billion on improving the operational capability of our security forces in the areas of legislation, infrastructure, equipment and training with a continued focus on intelligence based policing .
• $769 million was spent on the acquisition of equipment to improve the operational capacity of the joint service.
• over 300 security officers benefited from training in modern policing techniques, human rights and ethics consideration

2012

• $16.2 billion has been allocated for the continued modernisation of the security sector
• Completion of the forensic laboratory.
• Construction of the fire service training school at Leonora with live-in accommodation for 55 persons.
• $949 million to purchase and maintain equipment for the security sector to ensure its continued modernisation

b. Modernising Justice Administration

2011

• G$1.7billion was spent in this sector
• progress made towards completing the revision of the Laws of Guyana for the period to 2010, and the compilation of the law reports for the period to 2007

2012

• $2.1 billion budgeted for the sector.
• Over $300 million will be spent on the construction, rehabilitation and maintenance of court facilities
• New Mediation Centre to be constructed in New Amsterdam at cost of $25 million

G. Foreign Relations

2011

• Guyana has submitted a claim to the United Nations Commission for an extended continental shelf up to 350 nautical miles

2012

• the bridging of the Corentyne River remains a priority
• discussions are ongoing and will continue on the upgrading of the Linden to Lethem Road
• Frontier School’s Project will commence later this year facilitating the training of Guyanese and Brazilian students in English and Portuguese Language.

H.  Other Institutional Reforms

a. Financial Sector Reform

2011

• Following the granting of a liquidation order by the Court, 7,744 CLICO policyholders were paid a total of $4.1 billion
• Reissuance of a revised guideline on the Public Disclosure of Information
• Steps are being taken to implement the provisions of the Credit Reporting Act 2010

b. Improving the Business Environment

2011

• National Competitiveness Summit was held in September 2011, under the theme “Partnering to Promote Economic Growth and Development.
• The Consumer Affairs Act was passed which gave rise to a consolidated Competition and Consumer Affairs Commission (CCAC)

2012

• Significant enhancements will be made to the TRIPS application with the activation of additional modules, including manifest and third party modules which will strengthen systems for detecting false declarations while enforcement activities will be intensified to intercept smugglers.
•  Government will advance the implementation of the Single Window Automated Processing System (SWAPS)

( c ) Strengthening Public Administration and Accountability

• 127 persons successfully completing training in key concepts in monitoring and evaluation.
• Ministry of Natural Resources and Environment was established by His Excellency the President to have oversight responsibilities for forestry, mining, wildlife, environmental management, protected areas, and land management

(d) National Statistics

• National census to be executed in the second half of 2012

(e). Governance

• 9^th Parliament, the past four years have witnessed the most dynamic period of law-making with 124 bills being enacted, the largest number for any session in the history of the Guyana Parliament

5. TARGETS 2012

The size of Budget 2012 is $192.8 billion, the largest budget in our country’s history

Budget Measures

• $4 billion subsidy to GUYSUCO to the benefit of 18,000 workers
• $6 billion subsidy to GPL which will benefit the164,000 subscribers and by extension every member of all of the households connected to GPL’s grid.
• Removal of applicable taxes on equipment used for generating electricity from non-traditional or renewable sources for both household and commercial purposes. These include solar panels, solar lamps, solar batteries, solar generators, solar water heaters, wind turbines, water turbines, power inverters, compact fluorescent lamps and light emitting diode (LED) lamps
• With effect from May 1, 2012 old age pension is $8,100 monthly, a 8 percent increase over 2011 and more than double the rate of $3,500 paid in 2006
• With effect from May 1, 2012 Public Assistance is $5,900 monthly, a 7 percent increase over 2011 and more than double the rate of $2,350 paid in 2006.
• The personal income tax allowance will be increased to $600,000 annually or $50,000 monthly. The income tax threshold in 2012 will now be twice as high as it was in 2006. As a result of this measure, every taxpayer will benefit with higher take home pay. For example, a person whose income before tax is $50,000 per month will now take home $40,000 more for the year. In addition, some 21,000 persons will be removed from the income tax net, and over $3 billion of additional disposable income will be placed in the hands of beneficiaries.

• The economy is projected to continue to grow in 2012, by 4.1 percent, with the non-sugar economy projected to grow by 4 percent. This would mark the seventh year of uninterrupted growth
• Sugar production is targeted at 250,000 tonnes, 5.7 percent above 2011 level of production
• The rice industry is projected to increase its production even further to 412,425 tonnes which would be the highest ever level of production.
• The manufacturing sector is targeted to grow by 3.9 percent
• The information and communication sector is expected to grow by 3 percent.
• Transport industry targeted to grow by 9.5 percent
• The engineering and construction industry is targeted to grow by 6.3 percent
• The inflation rate is targeted at 4.6 percent.
• The deficit of the non-financial public sector is projected to at $24.2 billion or 4.2 percent of GDP compared to 4.4 percent in 2012.

the ppp should never open their mouth and talk about sugar in guyana,our foefathers break their backs on the sugar estate and the ppp distroy it

Transforming the Economy

 (a) Modernising the Traditional Sectors

Sugar

2012

• Operation of the Enmore packaging Plant at full capacity, subject to the availability of canes.
• Increase the industry average of private cane production from 8 percent in 2011 to 12 percent in 2012.

Rice

2011

• Total acreage under cultivation is now at its highest level ever at approximately 170,000 acres.
• Two new varieties of rice were released to farmers in 2011.
• 14 new varieties of rice currently being tested.

2012

• The commissioning of an additional paddy seed plant in 2012 will result in the production of 20,000 bags of high quality paddy seeds annually.
• Work is ongoing with Guyana National Bureau of Standards to certify the rice testing laboratory and to achieve ISO-Standards which is a critical step in strengthening export capacity and improving access to wider markets.
• Work is ongoing to encourage large scale rice production in new areas such as the Rupununi.

Bauxite

2011

• Value of investment in the bauxite industry since privatisation has been in excess of US$200 million.

2012

• BOSAI will start construction of a third kiln aimed at expanding RASC production by 150,000 tonnes per annum and the production of a facility to produce 75,000 tonnes per annum of mullite. These two projects will create 500 jobs during construction and over US$100 million would be invested.
• BCGI will be expanded as US$30 million of mining equipment will be delivered this year.
• BCGI will invest US$80 million over the next four years to expand the Berbice operation to a level capable of producing 5 million tones of bauxite annually.
• First Bauxite Inc. is projected to start construction of its refractory operations in Bonasika in the latter part of 2012, with an investment of US$120 million.

Gold

2011

• In relation to small and medium scale gold mining, over US$100 million was invested in 2011.

2012

• Guyana Gold Fields Inc. is expected to invest US$600 million in its Aurora Gold Project, which will see the creation of 250 jobs during the development phase and 200 during the mining phase.
• ETK Inc. /Sandspring Resources Ltd. Is projected to invest US$400 million in the Toroparu mine, which will see the creation of 300 jobs during the development phase and 200 during the mining phase.

 Excerpts from Budget at a Glance 2012