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An aerial view of Georgetown, the capital of Guyana.

Guyana announces minimum wage increase

An aerial view of Georgetown, the capital of Guyana.

Public servants in Guyana will benefit from a tax-free retroactive minimum wage increase effective immediately.

The minimum wage increase will be retroactive to Januray 2019.

The nine per cent increase will see the basic wage bar move from $64,000 to $70,000 weekly, and retroactively receive payment at the new rate from January 2019 to present.

” In three and a half years, the minimum wage has gone up by over 75 per cent. I think by any stroke of circumstance, that is a significant development and I know that the workers are going to be happy.”

– Finance Minister, Winston Jordan

The announcement was made by Finance Minister, Winston Jordan, on a radio show on National Communications Network today.

Guyana’s Finance Minister Winston Jordan

“In three and a half years, the minimum wage has gone up by over 75 per cent. I think by any stroke of circumstance, that is a significant development and I know that the workers are going to be happy. And I know that they are happier still because 2018, I first brought in tax-free back pay, and I asked the Cabinet, they agreed and I continue this year,” Jordan said.

Public servants earning between GUY$100,000 to GUY$999,000 per month will receive an 8.5 per cent increase while those earning more than a million dollars per month will get a three per cent hike.