Minimum wage, tax threshold to be increased

Last Updated on Saturday, 9 September 2023, 10:54 by Denis Chabrol

President Irfaan Ali on Saturday announced that government would be increasing the minimum wage and increasing the tax threshold after an analysis of the state of the country’s finance.

“I am currently reevaluating our revenues, projected revenues, the economy based on its strength, to analyse a further adjustment in the minimum wage,” he told a news conference. The private sector minimum wage is GY$60,147 and in the public sector it is GY$81,000

He also said government was also reviewing the possibility of further increasing the tax threshold. “This is another issue that I would say is on the front-burner for consideration,” the President added. The income tax threshold is currently GY$85,000.

Dr Ali said the decisions would be based on ensuring the sustainability of Guyana’s economy.

Guyana’s opposition coalition of A Partnership for National Unity+Alliance For Change (APNU+AFC) has been demanding a tax threshold of no less than GY$150,000 and a minimum wage of no less than GY$150,000.