ECNETNews, New York, NY, Oct. 11, 2024: Guyanese households will experience a substantial economic uplift thanks to new initiatives announced by President Irfaan Ali, which include a cash grant of approximately USD 1,000 and the implementation of free university tuition starting in 2025.
During a special session of the National Assembly at the Arthur Chung Conference Centre on Thursday, October 10, President Ali detailed the government’s plan to provide a one-time cash grant of GY$200,000 (approximately USD 1,000) to every Guyanese household, benefiting tenants and recognized households while excluding foreign nationals.
In a landmark move to enhance educational accessibility, Ali confirmed the reintroduction of free university tuition at the University of Guyana, effective January 2025. This initiative aims to create a more educated workforce essential for the nation’s economic development.
The president also addressed public sector wages, announcing that by the end of 2025, no public sector employee will earn less than GY$100,000 (USD 480) monthly. Additionally, families with children will receive a GY$10,000 universal health care voucher for each citizen and a USD 50 per child income tax allowance to provide essential support to parents.
To strengthen Guyana’s social security framework, President Ali revealed a GY$10 billion one-time boost to the National Insurance Scheme (NIS) aimed at assisting those facing challenges accessing their benefits.
On the energy front, the administration is committed to reducing electricity costs by 50% by the end of 2025, addressing a critical issue in a nation plagued by frequent power outages.
Ali also highlighted Guyana’s strides in digital technology, noting the country’s leadership in expanding 5G networks and installing fiber optic cables nationwide. Plans are in place to establish a ‘Guyana Digital School,’ which will integrate artificial intelligence (AI) into the economy as part of a comprehensive digital modernization effort.
These ambitious initiatives are geared towards ensuring that all Guyanese citizens reap the benefits of the nation’s rapid economic growth, primarily fueled by the expanding oil and gas sector.
