The 2026 National Budget of Guyana, set at a staggering $1.558 trillion, was presented by the PPP/C Government under the theme of “Putting the People First.” Still, despite the fanfare and the historic size of this fiscal blueprint, the document ultimately disappoints.
At a moment when Guyana is flush with unprecedented oil revenues and enjoys a level of fiscal space few developing nations ever see, the Government offered a budget that stops short of making human capital development and people empowerment genuine national priorities.
Instead, it reads like an exercise in recycled policy, excessive consumption, and misplaced allocation that largely benefits the well-connected and wealthy, while doing little to transform the prospects of ordinary Guyanese.
Human capital – the knowledge, skills, and creativity of our people – should have been the centerpiece of this budget. Yet, Budget 2026 lacks any bold or transformative strategy to cultivate research, innovation, science, or technological excellence among our youth. There is no coherent plan to develop research institutions, innovation hubs, or meaningful partnerships between universities and the private sector.
Instead, education allocations appear anchored in maintenance costs and traditional schooling, with little focus on modernising learning for the economy of tomorrow. For a nation poised to graduate from a primarily resource-based economy to a diversified knowledge economy, this gap is alarming.
Innovation is not merely a buzzword; it is the engine of modern growth. Yet Guyana remains a predominantly consumption-driven economy, importing even basic goods that we should be producing domestically. This budget does little to shift that reality.
There are no serious incentives for small and medium-scale manufacturing, no targeted support for agro-processing industries, and no visionary industrial policy that could reduce import dependency.
Despite being awash with oil wealth, we remain at a rudimentary level of economic development; exporting raw resources while importing what we could be making at home.
Compounding this problem is the Government’s almost exclusive fixation on the oil and gas sector. While petroleum revenues are rightly a central pillar of our national finances, the degree to which this budget leans on them blindsides other vital sectors. Agriculture, tourism, manufacturing, and small business development are treated as afterthoughts rather than engines of diversified growth.
Such reliance on oil exposes Guyana to volatile global markets and undermines economic resilience. A responsible government would use oil wealth not as an end in itself, but as the means to build a diversified, competitive, non-oil economy.
The continued emphasis on infrastructure spending also demands scrutiny.
Infrastructure, when planned and executed properly, can enhance productivity and improve lives. But Guyanese are all too familiar with high-cost projects that remain unfinished, are delivered late, or suffer from substandard workmanship.
Examples such as the protracted delays on the East Coast Demerara road expansion, piecemeal hinterland linkages that stagnate for years, and urban drainage works that fail to deliver long-term solutions raise serious concerns.
Pouring hundreds of billions into infrastructure without addressing procurement inefficiencies, contractor accountability, and quality standards is not prudent; it is wasteful.
Perhaps most troubling is what this budget fails to address: meaningful poverty alleviation and people development. The Government’s rhetorical commitment to people is starkly contradicted by a lack of substantive measures that would lift citizens out of poverty or improve the livelihoods of working-class Guyanese.
Social support measures remain piecemeal and modest at best, while the cost of living continues to rise. Wages lag behind inflation, and there is limited relief for families struggling with housing costs, transportation expenses, and access to quality healthcare and education.
The irony of Budget 2026 is unmistakable. It unfolds at a time of massive oil revenue inflows, projected to remain a significant source of state earnings, yet very little of this wealth is channeled into structured, impactful support for the poor and vulnerable. Instead, tax incentives and spending patterns often appear to benefit corporations, investors, and the wealthy elite.
Large firms continue to enjoy generous concessions, while everyday Guyanese find their purchasing power eroded and opportunities scarce.
This budget should have been a bold statement of national intent; a blueprint for investing in people, innovation, education, and economic diversity. Instead, it settles for the familiar, the cautious, and the uninspired.
Guyana deserves more than rhetorical themes and recycled policies. We deserve a future-focused vision that empowers our citizens, rewards hard work, and harnesses our resource wealth to build a more equitable and prosperous society.
Until the Government places human development at the centre of national policy, no level of oil revenue or infrastructure spending will deliver true and lasting prosperity for all Guyanese. The promise of a people-centred budget remains unfulfilled.
