Guyana’s Finance Minister, Dr. Ashni Singh, unveiled a series of impactful measures in the 2025 Budget, aimed at easing the cost of living for households and businesses alike.
From reductions in electricity prices to the abolition of bridge tolls, the government is taking steps to make life more affordable for Guyanese citizens.
One of the most anticipated measures is a significant reduction in electricity costs. Dr. Singh announced that once the highly anticipated 300 MW combined cycle power plant is completed, electricity costs for all consumers in Guyana will be slashed by 50%.
This reduction will provide immediate relief to households, while also benefiting businesses by reducing operational expenses. The move is expected to unlock the potential of the manufacturing sector, stimulate investment, and foster a more competitive and productive economy.
Another game-changing initiative is the removal of bridge tolls for all types of vehicles. With the completion of the new Demerara River Bridge expected in the second half of the year, commuters will no longer face toll fees at the Demerara, Berbice, and Wismar River bridges.
This decision will save over 50,000 daily commuters an estimated $3.5 billion annually, making transportation more affordable for families and improving regional connectivity.
Since March 2022, the government has maintained a zero percent excise tax on petroleum products to protect Guyanese consumers from soaring fuel prices. While global fuel prices have recently declined slightly, they remain high compared to 2020 levels.
In response, the government will continue its commitment to this measure, shielding citizens from the full impact of elevated fuel costs and helping households and businesses manage their budgets.
To address the rising cost of shipping, the government has been adjusting freight charges to pre-pandemic levels since 2021. Dr. Singh confirmed that this measure would continue throughout 2025, with an estimated annual cost of over $6 billion.
The successful part-time job programme, introduced in 2022, will also continue in 2025.
This initiative has provided thousands of households across Guyana with an additional $40,000 per month for just 10 days of work. The programme not only provides immediate financial relief but also helps participants develop skills for potential full-time employment. With a further allocation of $11 billion for 2025, the programme is set to continue supporting communities nationwide.
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