PRESIDENT Dr Irfaan Ali has announced that a new suite of government measures will soon be introduced to curb the rising cost of living, bolster vulnerable households, and widen economic opportunities.

In a recent live broadcast, the president said the upcoming interventions will focus on vulnerable groups, people living with disabilities, parents, small businesses, and homeowners.

“A series of initiatives will be announced in the coming weeks and months to further enhance disposable income and support vulnerable groups,” he said, adding: “This includes incentives for childcare, homes for the elderly, greater access to capital for SMEs, reduced interest rates, and new incentives to expand businesses.”

President Ali also highlighted the imminent completion of the NGL facility, which is expected to significantly lower cooking gas prices. He further outlined new incentives aimed at boosting home ownership and expanding major programmes to strengthen local food production and value-added industries.

He reaffirmed that government policies have already channelled tens of billions of dollars into the hands of Guyanese through wage increases, cash grants, subsidies, tax reversals, and improved access to income.

“Guyana is implementing internationally recognised best practices in tackling the cost-of-living challenge,” he said. “And we are not stopping. We are expanding our support even further.”

He noted that the administration has been steadfast in using every available economic mechanism to cushion the effects of rising living costs.

“This government has been utilising every monetary and fiscal tool at its disposal to address cost of living at home. I’m happy to report that the measures we have implemented have produced positive policy dividends,” he said.

According to the president, at the end of 2024, Guyana recorded an inflation rate of two per cent, compared with the global average of 6.2 per cent. He added that the country’s efforts in tackling the cost of living have also been recognised by the Inter-American Development Bank (IDB) and the International Monetary Fund (IMF).

He further outlined several ongoing initiatives aimed at strengthening long-term resilience.

“As we speak, the government is also rolling out initiative to strengthen our food production system. We’re establishing the regional food hub, getting the energy plan completed to bring down your cost of electricity by half, the free university education, free textbook in the schools, expanding our school feeding programme. We are now finalising efforts that will bring more grants to vulnerable groups.”