Guyanese nationals, already cashing in on their country’s significant economic growth through a government payment of approximately USD 500 to every citizen 18 and over, can expect more money in the future.
“This cash grant is not intended to be a one-time payment,” President Dr. Irfaan Ali stated in a New Year address.
He expressed his administration’s commitment to ensuring Guyanese benefit from their country’s natural resources.
“We are committed to making future direct cash transfers to our citizens,” President Ali said.
The Government expects its payouts to citizens to enhance household income, stimulate local businesses, and foster investments in education and entrepreneurship, particularly for vulnerable populations.
Guyana’s oil-driven economy has had the world’s most extensive gross domestic product (GDP) per capita growth in recent years.
The country has also seen the fastest GDP growth per capita over the past decade.
President Ali said Guyana remains the shining star of global economic growth.
Ali also disclosed that growth was not merely linked to oil since the non-oil sector grew by more than 40 percent since 2019.
“The promise of a better life for every Guyanese is no longer a distant dream. It is becoming an irreversible reality,” he declared.
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