GUYANA HAS announced a series of ambitious plans to help its citizens with the rising cost of living.
The government of Guyana said this week, that every household in the Riverrain and Hinterland communities will be given GUY$25,000 (equivalent to £96.63) to help act as “a cushion” against the global cost of living crisis.
President Dr Irfaan Ali said in a release, that his government will purchase one billion Guyanese dollars-worth of fertilizer, which will be made available for free distribution to farmers.
“In order to cushion the impact of the rising cost of fertilizer on farmers and to limit the pass-through to food prices, my government would be purchasing one billion dollars’ worth of fertilizer for free distribution to farmers for use in their planting and replanting activities,” he said.
The president said the grant for the two communities will result in approximately GUY$800m being pumped into the economy.
Ali said the money for the grant and farm initiative will come from a funds which have been set aside from the national budget to protect the country from the impact of the war in Ukraine.
He also added the free fertilizer campaign would encourage more agricultural activities in the country.
There are also plans to assist landowners with the costs associated with building homes.
“We expect that this measure will help to drastically accelerate the capacity of Guyanese families to own and occupy their own home and house lots that they have already owned or they have been allocated but on which they are currently having difficulties managing the complex process of home-ownership and also having access to financing,” he said.
Ali also announced the removal of value-added tax (VAT) on some construction materials until the sector returns to normal.
Comments Form
3 Comments
Wow, a Caribbean country providing financial assistance to its Subjects is wonderful.
I wish the same could be said of Nigeria and other African nations.
Only indo guyanese are being given cash grants in indo guyanese predominant areas. Apartheid is being inflicted on afro guyanese . Why these journalists don’t get the real views on qhat is happening in Caribbean countries.
So many Caribbean nations have been used as dumbing markets for the U.S.A. and the E. U’s tax subsidized agricultural products; which are cheaper than domestically grown fruit and vegetables.
The result of receiving imported foods and agricultural products has been ruinous for Caribbean farmers; as the imported food was cheaper than locally grown food.
I really hope the Ukraine crisis will allow the Caribbean and African nations to invest in their locally grown foods and avoid becoming dependent on imported foods in the future.