President Irfaan Ali on Sunday announced that his government will raise annual cash support for every school-age child to $200,000 and increase the monthly old-age pension to $60,000, pledging billions of dollars in new social spending as the economy expands.
Ali, speaking at a ruling People’s Progressive Party/Civic (PPP/C) rally in Lethem, Region Nine, said the children’s package will include a $100,000 “Because We Care” cash grant – up from $50,000 – and a $100,000 transportation grant. The measures will cost about $40 billion per year, compared with $10 billion currently spent on children’s education support.
He also unveiled a new $50,000 annual transportation grant for pensioners, alongside the pension increase, measures he said would set aside at least $65 billion for seniors and a further $4 billion for transport support.
Public Assistance will also increase to $40,000.
Ali told the crowd that the $200,000 grant per child is a minimum commitment and could increase further depending on economic performance.
