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In a landmark announcement, President Dr. Irfaan Ali has declared that every household in Guyana will receive a one-off cash grant of $200,000 as part of the government’s efforts to alleviate the rising cost of living. This monumental initiative is set to inject approximately $60 billion in disposable income across the country, providing much-needed financial relief to families.

President Ali, addressing the Parliament during a session focused on cost of living measures, emphasized that the distribution of these funds will begin immediately. The one-time payment aims to support households in managing the economic pressures that have emerged due to global inflation and local economic challenges.

The Head of State assured the nation that this significant financial intervention is part of a broader strategy to bolster the well-being of citizens and stimulate the economy. By delivering immediate cash relief, the government seeks to reduce the financial strain on families, especially those in vulnerable economic situations.

“This measure is aimed at ensuring that every household can feel some level of comfort and security during these challenging times,” President Ali stated. “We are committed to easing the burden of the cost of living on our citizens, and this cash grant is just one of the many steps we are taking to provide support.”

With the distribution process set to commence without delay, the President’s announcement has sparked widespread anticipation and optimism among the population. This cash grant comes on the heels of other social programs aimed at strengthening Guyana’s economy and improving the standard of living for its citizens.

The $60 billion infusion into the economy is expected to provide a significant boost to consumer spending, aiding businesses and further driving economic recovery. As the nation prepares for the rollout of this initiative, President Ali’s bold and swift action demonstrates the government’s commitment to tackling cost-of-living issues head-on, ensuring that relief reaches every corner of Guyana.