December 31, 2024
President Dr. Irfaan Ali has confirmed that the upcoming 2025 national budget will introduce a number of exciting new measures aimed at furthering the country’s economic and social development.
The government is working to present an early 2025 budget, which will focus on improving the quality of life for all Guyanese.
This new financial plan will continue the ongoing efforts to build and improve infrastructure throughout the country, which is expected to fuel further growth in the coming years.
The budget will include several key components that align with the 2020 PPP/C manifesto, with a strong emphasis on projects and policies that directly impact the public.
These measures are intended to address both immediate needs and long-term goals for the country’s progress.
In 2024, the government passed a historic budget of $1.1146 trillion, marking the first time in the country’s history that the budget exceeded the trillion-dollar mark.
The 2024 budget represented an increase of 46.6% over the previous year and was designed to strike a balance between meeting urgent needs and making investments that will benefit future generations.
A significant portion of the 2024 budget was allocated to infrastructure development, with $221.4 billion earmarked for roads, bridges, sea defences, and airstrips.
The government also made substantial investments in education, healthcare, housing, and water infrastructure.
A total of $129.8 billion was dedicated to healthcare, $135.2 billion to education, $78 billion to housing, and $20.5 billion to expanding access to water.
The government’s focus remains on continued development, ensuring that the benefits of growth reach every corner of Guyana.