Guyana President Announces GYD $200,000 Cash Grant for Every Household
President Irfaan Ali of Guyana has introduced a major initiative: a one-time cash grant of GYD $200,000 (approximately US $957) for every household in the country. This measure, which will inject GYD $60 billion into the economy, was announced during a special address at the National Assembly held at the Arthur Chung Conference Centre on Thursday.
The cash grant is part of the government’s effort to alleviate the rising cost of living, a global issue. “We will begin this one-off cash grant payment to households instantaneously,” President Ali said, reaffirming the People’s Progressive Party/Civic Government’s commitment to prioritising the welfare of its citizens.
With an average household size of 3.6 people and a national population of 808,726, this grant will directly benefit thousands of families across the country.
Since taking office, the Ali administration has implemented several measures to increase disposable income for Guyanese, including the removal of over 200 taxes and fees imposed by the previous government, such as VAT on water, electricity, and basic food items. Excise taxes on fuel have also been eliminated, saving consumers more than GYD $90 billion annually..
According to XE.com, 1 USD is equivalent to 208.94 GYD, making the GYD $200,000 grant worth approximately US $957.
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