News Americas, New York, NY, October 11, 2024: Guyanese families are set to receive a significant economic boost through several new initiatives announced by Guyana’s President Irfaan Ali, including a cash grant of nearly US$1,000 and free university tuition starting in 2025.
Speaking at a special session of the National Assembly held at the Arthur Chung Conference Center in Liliendaal on Thursday, October 10, Ali outlined the government’s plan to support every Guyanese family with a one-time cash grant of GY$200,000 ( approximately USD 1,000). This includes tenants and “legitimate families” but excludes foreign nationals.
Ali also announced the return of free university tuition at the University of Guyana starting in January 2025. This move aims to make higher education more accessible to all Guyanese citizens, helping to build a more educated workforce to meet the growing economic demands of the country.
In addition, Ali revealed that by the end of 2025, no public sector worker will earn less than GY$100,000 (US$480) per month, ensuring wage improvements for thousands of workers. Families with children will also benefit from a GY$10,000 universal health care voucher for each citizen and an additional US$50 per child for income tax, providing the necessary support for parents.
As part of efforts to improve the country’s social security framework, Ali announced a one-time GY10 billion injection into the National Insurance Scheme (NIS) to help those facing challenges in receiving their rightful benefits.
On the energy front, the president pledged to cut electricity costs by 50% before the end of 2025, addressing a long-standing issue in a country where blackouts are frequent.
Highlighting the country’s digital transformation, Ali noted that Guyana has already emerged as a regional leader in the rollout of 5G technology and the deployment of fiber optic cables nationwide. The government also plans to establish a ‘Digital School of Guyana’ to integrate artificial intelligence (AI) into the country’s economy, part of a broader push for digital modernization.
These comprehensive measures are designed to ensure that every Guyanese citizen benefits from the country’s rapid economic growth, driven primarily by the booming oil and gas sector.
