President Dr. Mohamed Irfaan Ali on Thursday announced a one-off cash grant of $200,000 for every household in Guyana. This move aims to infuse $60 billion in disposable income directly into the economy, providing relief to citizens amid rising cost of living.
The announcement was made during a special sitting of the National Assembly at the Arthur Chung Conference Centre. President Ali emphasized that the grant distribution would commence immediately, as part of the government’s broader strategy to mitigate the financial pressures faced by Guyanese households.
“Our aim is to implement this one-off cash grant to households without delay,” President Ali declared, highlighting the government’s unwavering commitment to prioritizing the well-being of the nation’s citizens.
Since taking office, the People’s Progressive Party/Civic (PPP/C) Government has introduced a range of measures to boost disposable income for Guyanese. Among these, the removal of over 200 taxes and fees imposed by the previous administration, including VAT on essential items such as water, electricity, and basic food supplies, stands out as a significant step.
Additionally, the government has eliminated excise taxes on fuel, delivering savings of over $90 billion annually to consumers. Other initiatives include raising the ceiling for low-income mortgage loans and removing taxes on data services for residential and individual use.
Last year, the PPP/C Government allocated $5 billion to help citizens cope with rising costs, providing public servants, teachers, disciplined services personnel, and employees of semi-autonomous agencies and public enterprises with a $25,000 tax-free cash grant in December 2023.
“This is how we promote prosperity, equitable wealth distribution, and increased ownership. Every day, we focus on enhancing the lives of Guyanese people and expanding both national and community wealth. This is the essence of what the People’s Progressive Party/Civic stands for,” President Ali stated.
