US $95 million from the sale of its first oil lift for 2021.
The government, through the new NRF Act, can withdraw much of this money but top officials have stated that the money will be used to help fund the dominant infrastructure agenda needed to advance Guyana’s transformation.
“That motion that was put in Parliament is a gimmick,” Jagdeo said, emphasising: “It is not realistic, it is not practical.”
The Vice President, however, assured Guyanese that the government was pursuing several initiatives to counter the rising cost of living. This includes the removal of several taxes and providing temporary jobs countrywide.
He also reminded people that a $5 billion sum has been allocated in the 2022 National Budget to fund interventions to cushion and counter the impact of the price hikes. He noted that the government is still deciding on how to spend this sum.
