$43.8B mortgage interest savings increases disposable income – President Ali

President Dr Irfaan Ali has announced that the strategic housing policies of his government have resulted in $43.8 billion being invested in the pockets of Guyanese families.

Speaking at the International Building Expo 2025, the president detailed that the government has worked to reduce mortgage interest rates.

The low-income housing category was reduced from 7.5 per cent to 5 per cent, saving borrowers $3.8 billion, while there was a 29 per cent mortgage rate reduction for persons in the young professional category, allowing them to save $40 billion.

“These are not just numbers. This is money that families can use to improve their lives, invest in education, and build their future,” President Ali said.

The head of state further highlighted the financial sector’s unprecedented stability, noting that non-performing housing loans fell from 11 per cent in 2020 to less than 2 per cent in 2025.

Mortgage lending has also surged by 90 per cent, from $136 billion to $258 billion, while loans to the construction sector have increased from $9.2 billion to $22.2 billion in five years. (Extracted and modified from DPI)