6.5 per cent retroactive salary increase for public servants
Some 54,000 public servants, teachers, members of the disciplined services, constitutional office holders, as well as government pensioners are set to benefit from a 6.5 per cent across-the-board retroactive salary increase, thereby putting $7.5 billion in disposable income into the economy.
Additionally, 12,000 members of the disciplined services will receive a one-month tax-free bonus which will now be extended for the first time to civilians of the Guyana Defence Force (GDF). This represents $1.5 billion in disposable income for this bracket of workers.
Senior Minister in the Office of the President with Responsibility for Finance, Dr Ashni Singh announced during a live broadcast on Friday.
“Fellow Guyanese, work will start immediately to ensure that all persons receive their salaries together with the retroactive amounts and in the case of the disciplined services together with the one-off-tax-free bonus no later than the designated payday in December,” Minister Singh stated.
He reiterated that the government remains committed to ensuring that all categories of workers enjoy a continuously improved standard of living, better opportunities, and brighter prospects for the future.
“And even as we face these unprecedented challenges of our time, we remain firmly focused on the task of advancing and accelerating our development agenda aimed at realising in the shortest possible time, improved wellbeing and prosperity for all Guyanese,” he further expressed.
The announcement comes against the backdrop of several other measures implemented since the government’s assumption to office in August 2020, to improve disposable incomes for Guyanese.
These include the payment of a seven per cent across-the-board increase in 2021 and an additional eight per cent retroactive increase in 2022.
Earlier this year, President Dr Mohamed Irfaan Ali announced salary adjustments for graduate teachers, an increase in the Remote Areas Incentive (RAI) for hinterland teachers, and duty-free concessions for teachers who hold a substantive appointment as a Senior Master/Mistress.
Public servants, teachers, members of the disciplined services, staff of semi-autonomous agencies, and public enterprises will also receive a $25,000 one-off bonus payable in December 2023.