says Region Three Private Sector Head on passage of 2025 budget

REGION Three Private Sector Inc. (R3PSInc) Head, Halim Khan, has lauded the 2025 National Budget as a progressive and people-centred financial plan that will further propel Guyana’s rapid economic transformation while improving the well-being of citizens.

His endorsement comes in light of the Government’s recent passage of the budget and its commitment to economic stability, massive infrastructural expansion, and social welfare enhancements—all without imposing new taxes on the population.

Khan highlighted that Budget 2025, presented by Senior Minister in the Office of the President with Responsibility for Finance and the Public Service, Dr. Ashni Singh, is a continuation of the People’s Progressive Party/Civic (PPP/C) Government’s unwavering commitment to national development. He commended the budget’s strategic focus on infrastructure, education, healthcare, agriculture, and social welfare, noting that these investments will create immense opportunities for businesses and individuals alike.

BUSINESS-FRIENDLY BUDGET
The Region Three business leader emphasised that the budget’s pro-growth measures, including tax reliefs and direct financial support to various sectors, will further stimulate investment and enhance job creation. Khan noted that since the PPP/C’s return to office in 2020, the reversal of punitive taxes and the introduction of business-friendly policies have led to unprecedented economic growth. The 2025 budget continues in this vein, ensuring that businesses have the support needed to thrive.

“The reduction in personal income tax rates and the increase in the income tax threshold will provide greater disposable income to Guyanese, thereby driving consumer spending and fostering business expansion. Additionally, the allocation of $112.6 billion to the housing sector will not only benefit homeownership but also boost the construction industry, leading to more jobs and economic stimulation,” Khan stated.

Khan particularly praised the Government’s targeted sectoral investments, which he said align with the vision of a modern, prosperous Guyana. Notably, he highlighted the $175 billion allocation to education, which advances the goal of free world-class education for all, and the $143.2 billion injection into healthcare, which will significantly enhance public healthcare services.
“Our education and healthcare systems are fundamental pillars of our nation’s future. The Government’s commitment to investing in these sectors demonstrates a long-term vision for national prosperity and human capital development,” Khan affirmed.

Additionally, the $104.6 billion earmarked for agriculture and food security is a major boost to the nation’s food self-sufficiency efforts. As Guyana continues to position itself as the breadbasket of the Caribbean, these investments will empower farmers, modernise agricultural practices, and contribute to regional food security.

Beyond business and economic growth, Khan underscored the budget’s significant social measures that will directly benefit Guyanese families. These include the increase in old-age pension from $36,000 to $41,000, the Because We Care Cash Grant increase to $50,000 per student, and the introduction of a $100,000 one-off grant for every newborn baby born to a Guyanese mother.

“These initiatives clearly reflect the Government’s commitment to uplifting every segment of society. The cash transfers and social benefits will enhance the quality of life for thousands of Guyanese families, ensuring that our people share in the country’s wealth,” Khan said.

Khan reiterated his confidence in the PPP/C Government’s leadership, noting that Budget 2025 is a testament to their ability to govern effectively, deliver on promises, and maintain economic stability. He pointed to the Government’s track record of fiscal responsibility, prudent management of national resources, and a clear vision for sustained progress.

“Minister Singh has rightfully highlighted that the APNU+AFC opposition has continuously failed to present realistic and credible economic plans. Unlike the opposition’s empty promises, the PPP/C has demonstrated a commitment to action, delivering real results for the people of Guyana,” Khan asserted.

With national elections on the horizon, Khan expressed his unwavering support for the PPP/C Government, stating that its leadership remains the best choice for Guyana’s continued advancement.

“The progress we have seen since 2020 is undeniable. Budget 2025 builds on this momentum and sets the stage for an even brighter future. I have full confidence that the PPP/C will continue to lead Guyana towards unprecedented prosperity beyond 2030,” Khan concluded.