Income tax threshold increased to $50,000 as Guyana’s Finance minister presented a massive $192.8 billion Budget.

Georgetown-  The largest budget in Guyana's history, a 20% increase from 2011 . "Remaining on course uniting in prosperity, ‘proposed estimates and revenue expenditure on sustainability of macro economic development in Guyana." The theme under which the budget was presented. The Finance Minister Dr. Ashni Singh in his presentation of the 2012 national budget told the parliament that billions will be expended to improve the living conditions and well being of citizens. He added that government will continue to focus on improving the education delivery in the country hence the allocation of a total of G $26.5B for the education sector this year. Apart from the income tax threshold, the Minister also announced a 7% increase in public assistance and an 8% increase in the old age pension which will now be eight thousand one hundred and twenty dollars. $1.2 billion will be expended to improve teacher training at the Cyril Potter College of education. The minister announced that 6500 house lots will be distributed with 4000 land titles and 200 core homes will be constructed. Citizens will experience improved quality of water hence a total 2 billion has been allocated for the water sector and G $503M allocated in the area of sanitation. To enhancing security the minister announced that G $16.2B has been allocated to improve the sector.