Budget 2025: $112.6B for expansion of homeownership for “every” Guyanese
The Dr. Irfaan Ali-led Administration has allocated a historic $112.6 billion in Budget 2025 to further its vision of making home ownership accessible to every Guyanese family.
“We came back into office and immediately revitalised the housing programme,” Senior Minister in the Office of the President with responsibility for Finance and the Public Service, Dr. Ashni Singh stated. “We have allocated over 40,000 house lots across all income categories and constructed over 2,000 houses since our return.”
Dr. Singh also highlighted targeted initiatives to ease the financial burden of home ownership. These include increasing the low-income mortgage ceiling from $8 million to $20 million and raising the housing loan cap at the New Building Society (NBS) from $12 million to $20 million.
Additionally, the mortgage interest relief ceiling, which was slashed to $15 million by the previous administration, has been restored to $30 million.“Mr. Speaker, these initiatives will help bring home ownership within the reach of every single Guyanese family,” Dr. Singh affirmed.
The housing programme will continue to expand with the development of 85 new and existing housing schemes, including areas such as Amelia’s Ward, and Charity. Budget 2025 also supports critical infrastructure development to sustain these housing areas.
Alongside the focus on housing, $23.1 billion has been allocated to the water sector in 2025. Dr. Singh pointed to major achievements, including the drilling of 130 wells since 2020, which has increased access to potable water in hinterland regions from 46% in 2020 to 91% in 2024.
“In 2025, we will advance construction of 13 water treatment plants and develop new water supply systems for hinterland communities,” Dr. Singh noted. A budget of $10 billion has been earmarked to improve water quality nationwide.
