Guyana’s national fiscal plan, delineating the country’s developmental trajectory for the upcoming year, is slated for presentation to the National Assembly in January, as confirmed by Vice President Dr. Bharrat Jagdeo during his first press conference for 2024 at the Office of the President in Georgetown.
Dr. Jagdeo expressed the government’s commitment to releasing the budget early to facilitate the continuation of the development program and the fulfillment of promises made to the people. At the press briefing, he outlined the two primary pillars shaping the national budget: mechanisms to increase disposable income for citizens and the development of Guyana’s economic and social infrastructure.
Initiatives aimed at enhancing disposable income may encompass salary increases, additional tax reductions, and the creation of employment opportunities. These initiatives align with the goals outlined in the People’s Progressive Party/Civic (PPP/C) Administration’s 2020 manifesto, which serves as the foundation for national prosperity.
In February 2023, Senior Minister in the Office of the President with responsibility for Finance, Dr. Ashni Singh, successfully passed a historic $781.9 billion budget—the largest in the nation’s history. The budget, devoid of new taxes, prioritized policies focused on increasing disposable income, including augmented pension funds, elevated public assistance, and the implementation of ‘Because We Care’ cash grants.
