Budget 2025: Based on stakeholder consultations, $9B is set to ease the cost of living pressures
Aimed at providing relief to vulnerable communities and mitigating the impact of rising prices, the government has set aside $9 billion in the 2025 National Budget for targeted interventions.
In 2022 and 2023, the ruling People’s Progressive Party Civic (PPP/C) administration allocated $5 billion to address the cost of living concerns.
“This allocation was increased to $7 billion in 2024. Government is committing a further $9 billion for targeted interventions in 2025, based on stakeholder consultations, to ease cost of living pressures,” Senior Finance Minister Dr. Ashni Singh explained on Friday.
Since assuming office, the party, among other things, reversed a range of punitive and draconian taxes imposed by the previous government from 2015 to 2020.
The People’s Progressive Party Civic (PPP/C) government led by Dr. Irfaan Ali, introduced a suite of measures designed to support economic growth and create greater opportunities for an improved quality of life.
“Budget 2025 builds on this momentum, continuing this Government’s commitment to boost economic activity, promote production and productivity, create ample opportunities for income generation, and incentivise effort and hard work,” Minister Singh said.
