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Vice President Bharrat Jagdeo has emphasized that Guyanese citizens are being protected against the rising cost of living through various government interventions. Speaking at his weekly press conference on Thursday, July 18 2024, the Vice President highlighted significant measures taken by the administration to mitigate economic pressures on the populace.
“We have had some government policy interventions,” Jagdeo stated. “Last week, I spoke of us removing the 50 percent excise tax, equivalent to $81 billion, on only two items: diesel and gas.” The VP says this substantial tax relief is part of a broader strategy to cushion the effects of global inflation and local economic challenges.
Jagdeo pointed out the broader context of these measures, noting the impact of the COVID-19 pandemic and ongoing global inflationary pressures. “In four years, especially with two years lost to COVID… and with all the inflationary pressures affecting a big country like the US… we in Guyana, because of direct government policy interventions, have kept some of the most substantial areas in the cost-of-living increases, we have kept them away from our people.”
The Vice President’s remarks come amidst growing public concern over the cost of living, with many Guyanese struggling to cope with rising prices. The government’s efforts, according to Jagdeo, demonstrate a commitment to shielding the population from the worst economic impacts through targeted and effective policy actions.
As the administration continues to navigate the economic landscape, Jagdeo’s the actions of the PPP-led government underscores the importance of appreciating the steps taken to alleviate financial burdens on citizens. By removing significant taxes on essential items and implementing various relief measures, the government aims to sustain economic stability and support the well-being of all Guyanese, according to the Vice President.
