Macroeconomic Forecast Guyana

February 2008 | Macroeconomic Forecasts

BMI View: In 2008, the government is expecting to spend up to GYD3.3bn on various forms of tax relief and social spending. From January 2008, the government has increased the income tax threshold from GYD28,000 to GYD35,000 meaning that 36,000 employed persons will not have to pay any taxes on their salaries. Furthermore, 35,000 pensioners and 15,000 people receiving special relief will see their monthly benefits increase from GYD3,675 to GYD6,000 and from GYD2,470 to GYD4,500 respectively. Nevertheless, although no official data have been released, the government has stated that the fiscal deficit has narrowed from US$1.0bn to US$700.0mn 2006-2007.

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