Budget 2025 set for Friday … Community, people focused matters to get more attention

Among the many issues the government seeks to tackle within this year’s 2025 budget, community and people focused matters are among those to be placed on the front burner. Senior Minister within the Office of the President with responsibility for Finance, Dr. Ashni Singh, has announced January 17th as Guyana’s National Budget day.

 While no details on the budget was offered by the finance minister, Vice President Bharrat Jagdeo at his latest weekly press briefing did highlight tax reform, waste management, support for the vulnerable and infrastructure as some of the areas where allocations would be focused to positively impact citizens at personal and community levels. He told the media that based on the government’s extensive public outreaches held last year, it was recognized that these areas were of concern to citizens.

The Vice President said that through direct communication between the public and the government increased emphasis has to be placed on community development. He said that the rehabilitation of community grounds across the country will continue with a boost to the resources necessary. Improving public sanitation with better garbage collection and disposal systems is another aspect of community development that will be given attention as more resources would be allocated to Neighbourhood Democratic Council (NDCs) and municipalities.

Additionally, persons who contributed to the National Insurance Scheme (NIS) but failed to meet the 750 pension contribution threshold would receive a one-off cash grant stemming from a massive $10billion allocation to be placed in the budget. In relation to tax reform, the government is seeking to implement an initiative where both private and public sector workers retain more disposal income through a performance reward system. 

“These are just some key elements of our principles that will guide the 2025 budget….”the VP said. He reiterated that the issues highlighted are those pointed to by citizens, and the government is committed to addressing these concerns, while promoting social and economic growth. “We listen to people. Those who think we’re spending too much money on fixing these roads, that came from the people, and not just here on the coastland, but in every region.”

In his New Year address, President Dr. Irfaan Ali pointed to a number of major projects which he said would continue the transformation of Guyana, while providing a host of opportunities. The head of state assured that his government will continue to enable Guyanese by ensuring their benefits from the proceeds earned through the capitalisation of the country’s natural resources.

Last year’s budget was pegged at G$1.146 trillion, a significant portion of which was provided by the country’s thriving oil sector.