Conclusion

Measured against the expectations prior to the Budget, the Budget must be a great disappointment. The Budget Speech contains no indication that it recognises that the economy is in trouble, that it needed a jump start and that this was an excellent opportunity for the Government to show that it was truly managing the country’s economy.

Last year, we concluded our review by asking that Parliament and the Opposition to exert greater influence over the financial system and the financial resources of the country. The Auditor General’s Report for 2000 has still not been tabled nor are the accounts of many entities funded by taxpayers’ money. Civil society and all taxpayers must demand a higher standard of accounting and accountability from those to whom we entrust our scarce resources.

The indications are that the international community is becoming slightly concerned about the level and quality of financial management in our country. We cannot let them lose confidence and therefore withhold their support.

Ram & McRae

Chartered Accountants

Georgetown

Guyana

South America

March 16, 2002