Minister of Finance, Dr Ashni Singh, says the distribution of cash grants over the next five years will form part of a broader People’s Progressive Party government strategy aimed at empowering citizens.
Speaking during an interview on the Starting Point Podcast, Dr Singh acknowledged the consensus that increased money in circulation can have inflationary effects. He noted that cash grants and wage increases, in most environments, have the potential to contribute to inflationary pressures.
“That’s not to say that cash grants are a bad thing, and we don’t hold the view as a government that cash grants are a bad thing,” the finance minister clarified.
Dr Singh reminded that the government had introduced a cash grant for every household during the COVID-19 period, followed by the $100,000 cash grant for every Guyanese adult in 2024, along with other grants targeting various categories within society. He added, “We’re also the government that has said that we will, over the course of the next 5 years…provide cash grants on future occasions.”
Minister Singh further noted that the government recognises the reality that large injections of cash into the economy can drive up prices if they are not supported by suitable accompanying and complementary policies.
Dr Singh said, “We have said that we’re going to continue to provide support and targeted support to the Guyanese population, but it has to be a comprehensive range of policies.”
He continued, “Over the course of time, we will provide cash grants to the Guyanese population, but that will certainly not be the only means through which we will bring and deliver upliftment and improvement to the lives of the Guyanese people.”
According to the minister, the government’s ultimate aim is to ensure that every Guyanese can take care of themselves while also building household and individual wealth.
“We have said on repeated occasions that our objective is for national prosperity to be translated into community and household, and individual prosperity. And so cash will be a part of a much bigger and wider range of policies aimed ultimately at lasting economic empowerment of every single Guyanese citizen,” he outlined.