$200,000 one-off cash grant for every household – President Ali announces

President, Dr Mohamed Irfaan Ali has announced a one-off cash grant of $200,000 to every household in Guyana.

This intervention will inject $60 billion of disposable income into the economy.

The head of state made the monumental announcement on Thursday during his address at a special sitting of the National Assembly at the Arthur Chung Conference Centre.

The measure is a response to the escalating financial strain imposed by the rising cost of living, a phenomenon that is global in scope.

“We will begin this one-off cash grant payment to households instantaneously,” he said.

The president said that the People’s Progressive Party/Civic Government is driven by a commitment to putting the welfare of Guyanese first.

Since assuming office, he pointed out that a suite of measures has been implemented to increase disposable income for Guyanese.

Over 200 taxes and fees by the previous government were removed, including VAT on water, electricity, and basic food items.

Other measures include the removal of excise tax on fuel, which saves consumers more than $90 billion annually, the increase in the low-income mortgage loan ceiling, and the removal of taxes on date for residential and individual use.

Last year, a $5 billion cost of living allocation saw public servants, teachers, and members of the disciplined services, as well as staff of semi-autonomous agencies and public enterprises, receive a $25,000 one-time tax-free cash grant in December 2023, a $1.7 billion investment.

“This is how we are promoting prosperity, ownership, distribution of wealth. This is how the resources and revenue of this country are being spent every single day to lift the lives of people, to expand national wealth, coastal wealth, and community wealth. This is what the People’s Progressive Party/Civic Government is about,” the Guyanese head of state stated.