Finance Minister: 58 per cent poverty rate occurred during APNU-AFC period in government

Minister within the Office of the President with Responsibility for Finance, Dr Ashni Singh

Finance Minister Ashni Singh on Friday said opposition claims that 58 per cent of the population lives in poverty are based on data from a period when the APNU-led coalition was in government, accusing political rivals of misleading the public.
Speaking during the 2026 budget debate in parliament, Singh said the figure—frequently cited by the opposition—comes from a 2024 Inter-American Development Bank (IDB) report that relies on data collected between 2016 and 2018.
Singh said the data reflect conditions during the APNU administration’s time in office and do not represent current economic realities.
He defended the government’s economic record, saying policies aimed at boosting employment, raising wages and expanding social support were improving living standards.
“There are lies being told about poverty,” Singh told lawmakers.
The finance minister rejected opposition accusations of economic mismanagement, pointing to macroeconomic indicators that he said demonstrate fiscal discipline and sustained growth.
He said the country’s debt-to-GDP ratio stood at 28.6 per cent at the end of 2025, among the lowest in the Western Hemisphere, while debt service accounted for about 5.5 per cent of government revenue.
By contrast, Singh said that in the early 1990s more than 100 per cent of government revenue was required to service public debt.