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In light of the country not having a budget since 2018, on Monday the President laid out several aspects of what is to be cater for in what is consider as an emergency budget. The President and the Vice President on Monday said the measures are to boost economic growth.

The President announced that value added tax will be removed from water and electricity and pensioners will no longer be charged for water being supplied to their homes. Pensioners will also be received $25,000 per month from the current $20,000.

Also, Poultry items will be zero rated including all exports and fertilizers for the sector. The value-added tax and duties will be removed on machinery and equipment to allow for the recapitalisation of key sectors like mining, forestry and agriculture

Additionally, the COVID-19 response, every household in Guyana will receive $25,000. With a two-week tax-free bonus for the Joint service, with $150 million been set aside for those frontline healthcare workers who have been involved in the fight against the coronavirus locally.

In terms of education the Government plans to invest $200 million towards E-learning, with the annual school uniform voucher will be doubled to $4,000 while the cash voucher for school children will be reintroduced at $15,000 per year.

Several measures have been introduced to assist the productive sectors. The Government will lift the ban on the importation of used tires and the importation of vehicles that are more than eight years old. Additional tax concessions are to be granted for the mining, forestry, and agriculture sectors the government will reverse all of the land lease fees to what existed in 2014 to assist the poultry and agriculture sectors.

 Additionally, Vat is also being removed from hinterland travel. With a new Ferry plan for region one North West district to accommodate cold storage. the Government is also looking to build three multi-complex in region 2,6 and 10


Business, News

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