(iNews Guyana) President Dr. Irfaan Ali on Monday afternoon announced several groundbreaking measures aimed at improving the lives of citizens.
The first initiative will see the distribution of a one-off $25,000 cash grant to every household in the riverine and hinterland communities of the country. This measure will see some $800M being pumped into the economy and will cushion the impacts of the rising cost of living.
The second measure will see the government purchasing $1B worth of fertilizer for free distribution to farmers across the country. This is expected to reduce the expenses of farmers and result in cheaper prices at the markets for food.
“This initiative will significantly reduce input cost and help ensure scaled up production and adequate supply of output which is critical to maintaining price stability,” President Ali explained.
These two measures, he noted, will be financed by the $5B allocated in Budget 2022 for the purpose of easing the impact of rising cost of living of locals.