Finance Minister defends $300M allocation for Jubilee celebrations …says one needs to spend money in order to make money

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Finance Minister Winston Jordan today declared that the $300M budgeted by Government for Guyana’s 50th Independence Anniversary celebrations is a paltry sum in comparison to what other countries would spend behind such an event.

A scene from a previous Independence celebration in Guyana
A scene from a previous Independence celebration in Guyana

He posited that the decision to spend $300M on the events in observance of the country’s 50th Independence Anniversary in May this year will have a “multiplying” effect that would see monies being pumped into Guyana’s economy.

According to Minister Jordan “every government spending” will have a multiplying effect, and although at this point in time he is unable to pronounce on the figure that would be reeled in from the $300M ‘investment’, it would assist the country tremendously.

He emphasised that with the upcoming celebrations, many tourists will be visiting Guyana and overseas based Guyanese will be returning home hence new flights have been introduced for this period.

The Finance Minister added that one needs to spend money in order to make money and that the country’s 50th Independence Anniversary is an opportune time for such a move.

The Opposition PPP/C had criticised the Government for allocating this “huge” sum of money to the country’s Jubilee celebrations, stating that there is no need for such a move at this time considering the fact that there are more important areas of national development which focus should be placed on.

 

2 COMMENTS

  1. Overseas Visitors are now afraid to visit Guyana because of the Crime situation,the Zika Virus,High Cost Consumers Goods, Personal Safety and Racialism. etc.

  2. Finance Minister defends $300M allocation for Jubilee celebrations …says one needs to spend money in order to make money.
    Bet your life on it that the poor sap Jordon will never take a chance spending his money to make money on something like this.
    The PNC crowd thats coming home for PNC big jump up are misers..they will suck their family and friends in Guyana dry..lots of them will just make it selling their food stamp and welfare money because they are loyal to PNC..they live in canada and america with with mouth

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