The Government of Guyana has announced its plans to infuse a substantial sum of 97.6 billion GYD (466 million USD) into the agriculture sector. Finance Minister, Dr. Ashni Singh, shared this financial proposal with the National Assembly during the budget presentation.

Dr. Singh highlighted the remarkable transformation that the agriculture sector has undergone since 2020, transitioning from small-scale, rural-based, subsistence farming to dynamic, large-scale, plantation industries. This positive trend is set to persist in 2024, with significant investments aimed at promoting large-scale cultivation, technological advancements, and the expansion of various agricultural activities.

The Finance Minister detailed the specific areas where the investment will be directed. These include opening new lands, developing high-yielding and climate-resilient crop varieties, encouraging the establishment of modern farms, promoting aquaculture and shrimp farming, cultivating new crops, expanding livestock production, and modernizing drainage and irrigation infrastructure.

In a broader scope, the government has allocated 2.6 billion GYD (12.4 million USD) to bolster the production of non-traditional crops, including corn, soya bean, citrus, coconuts, and high-value crops like broccoli, cauliflower, bell peppers, romaine lettuce, and carrots. The fisheries and aquaculture sector is earmarked for a 1.2 billion GYD (5.7 million USD) investment, and the livestock sector is projected to receive a similar amount.

Comparatively, the Agriculture Sector received 60.4 billion GYD (288.5 million USD) in 2023, highlighting a substantial increase in the government’s financial commitment to the sector in 2024.