BUDGET 2023: Another $5B set aside to ease rising cost of living

The government acknowledges that many people are affected by a rising cost of living and as such, another $5 billion has been set aside for additional measures to ease this burden.

This is according to Finance Minister Dr. Ashni Singh, who presented the 2023 National Budget at a sitting of the National Assembly on Monday.

Dr. Singh explained that the rising cost of living is linked to the global developments but assured people that the government is keen on engaging stakeholders to implement interventions that will alleviate the impact of rising prices.

The $5 billion sum, he said, will be utilised following consultations from various communities.

In 2022, $5 billion was also set aside to cushion the rising cost of living. Throughout the year, that sum funded various cash grants and other interventions.