The Irfaan Ali Administration on Monday presented Guyana’s largest National Budget to date, unveiling a G$1.558 trillion (approximately US$7.5 billion) spending plan for 2026 aimed at providing direct financial support to citizens, strengthening social services, and stimulating long-term economic growth. Speaking before the 65-member National Assembly, Minister of Finance Dr Ashni Singh said the budget was designed to advance President Irfaan Ali’s vision of building a modern and prosperous Guyana. The 2026 budget is 12.7 per cent larger than the previous year’s allocation and introduces no new taxes.

At the centre of the government’s programme is a wide-ranging system of direct cash support. Every Guyanese aged 18 and older will receive a National Cash Grant of G$100,000 (about US$480), which is expected to cost approximately G$60 billion (about US$287 million). School-aged children will also benefit from a combined G$85,000 (about US$407) in grants, including an increase in the Because We Care Cash Grant to G$60,000 (about US$287) per child, a G$5,000 (about US$24) uniform voucher, and a newly introduced annual transportation support grant of G$20,000 (about US$96) per student. These measures are expected to reach roughly 206,000 children across public and private schools, resulting in total transfers of G$17.5 billion (about US$84 million) in 2026. In addition, the government will continue funding up to eight CSEC and CAPE subjects per child, benefiting nearly 14,000 students.

Significant support has also been extended to pensioners and other vulnerable groups. Old Age Pensions will rise from G$41,000 (about US$196) to G$46,000 (about US$220) per month, benefiting approximately 95,000 pensioners, while the new annual transportation grant of G$20,000 (about US$96) will add another G$1.9 billion (about US$9.1 million) in transfers. Public Assistance will increase from G$22,000 (about US$105) to G$25,000 (about US$120) per month, and the government has allocated G$1.5 billion (about US$7.2 million) for co-investment in child care and elderly care facilities, alongside the removal of corporate taxes for companies that provide these services. Monthly stipends for Pathway Workers, Community Enhancement Workers, Community Service Officers, and Community Policing Groups will increase from G$40,000 (about US$191) to G$50,000 (about US$239), representing an additional G$14 billion (about US$67 million) in annual support.

To ease the cost of living and improve disposable income, the government is raising the monthly income tax threshold from G$130,000 (about US$622) to G$140,000 (about US$670), which will remove approximately 5,000 people from the tax net and inject an estimated G$2 billion (about US$9.6 million) into households. Net property taxes on individuals will be abolished, and a further G$9 billion (about US$43 million) has been allocated to help offset rising living costs.

The budget also introduces a series of sector-focused incentives. Corporate taxes on agriculture and agro-processing businesses will be removed, while additional products, including value-added timber, will qualify for export allowances. Value Added Tax will be eliminated on locally manufactured furniture, jewellery, and hybrid vehicles under 2,000 cubic centimetres, as well as on security equipment such as cameras and alarm systems. Import duties on double-cab pick-ups will be standardised at G$2 million (about US$9,600) for vehicles under 2,000 cubic centimetres and G$3 million (about US$14,400) for those between 2,000 and 2,500 cubic centimetres, regardless of age. All-terrain vehicles and outboard engines up to 150 horsepower will also be exempt from import taxes.

Dr Singh described the 2026 budget as a blueprint for inclusive growth, noting that it reflects the government’s manifesto commitments to empower citizens, strengthen social protection, and ensure equitable access to economic opportunities across Guyana.

Source: (Caribbean National Weekly)

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