Press Release: Budget 2026 Cements Economic Growth and Continued Progress For All Guyanese – Prime Minister Phillips

Prime Minister Brigadier (Ret’d) Mark Phillips has said Budget 2026 confirms Guyana’s irreversible shift into a modern, high-performing economy, supported by disciplined fiscal management, expanding national infrastructure, and deliberate policies that ensure every region benefits from growth.

The Prime Minister described the $1.558 trillion Budget 2026 as a defining statement of national direction, noting that it is the largest budget in Guyana’s history, fully financed, and implemented without the introduction of new taxes,

“This is not an accidental outcome,” Prime Minister Phillips said. 

“It is the result of consistent policy choices, competent leadership, and an unwavering commitment to national development that reaches beyond Georgetown and into every community.”

He noted that Budget 2026 builds on sustained economic momentum, with overall GDP growth projected at 16.2 percent in 2026 and non-oil growth projected at 10.8 percent. Manufacturing is projected to grow by 12.9 percent, construction by 25.4 percent, and agriculture, forestry and fishing by 7.6 percent. 

According to the Prime Minister, these figures reflect an economy that is diversified, productive, and resilient. He noted that these outcomes underscore the difference between an economy managed for national advancement and one managed for narrow political interests which occurred when the APNU and its predecessor, PNC was in Government.

“There was a period in this country when economic opportunity was filtered through political favour, when scholarships and land were accumulated by Ministers and their families, and when taxation was the primary tool of governance. That era has been closed.” he said. 

He emphasised that Budget 2026 consolidates investments that have expanded education access nationwide, with $183.6 billion allocated to the sector. This includes more than 40 new schools, expanded dormitories in hinterland regions, $5.8 billion for scholarships through the Guyana Online Academy of Learning(GOAL), free tertiary education, subsidies for students writing CXC, and expanded TVET training to support workforce readiness.

The Prime Minister said access to quality healthcare is now being structured as a national standard rather than a geographic privilege. Healthcare continues to see transformational investment, with $161.1 billion allocated in 2026 for regional hospitals in Moruca, Bartica, Kato, Lethem, New Amsterdam and West Demerara, advancement of the Paediatric and Maternity Hospital, expansion of dialysis services, implementation of the national electronic health records system, and training of more than 5,600 health professionals. 

Prime Minister Phillips placed particular emphasis on achievements in hinterland and remote community connectivity, describing them as structural shifts rather than pilot projects. He noted continued expansion of electricity supply through solar mini-grids, upgrades to distribution networks in Mabaruma, Matthews Ridge and Port Kaituma, and the installation of renewable energy systems benefiting thousands of households.

Connectivity has also been strengthened through expanded internet access, digital government services, and Integrated Service Centres that allow citizens in remote regions to access eID, passport, tax and registry services without travelling to Georgetown. The Prime Minister said these investments have changed how hinterland communities interact with the state.

“When we speak about inclusion, it is not rhetorical,” he said. “It is electricity where there was none, internet where there was silence, and government services delivered where people live.”

Energy expansion continues to anchor the country’s long-term competitiveness, with $119.4 billion allocated in 2026. This includes continued advancement of the gas-to-energy project, expansion of transmission and distribution networks, installation of additional solar capacity, and renewed development of the Amaila Falls Hydropower Project. The Prime Minister said these initiatives will reduce energy costs, stabilise supply, and drive manufacturing and investment.

“These projects are economic infrastructure,” he said. “They determine production costs, industrial growth, and national competitiveness.”

Prime Minister Phillips said secure tenure and planned housing are now fundamental components of social stability and economic participation. Housing and community development remain central to Budget 2026, with $159.1 billion allocation for 15,000 house lots, construction of 8,000 homes, issuance of more than 7,000 land titles, continued development of Silica City, and infrastructure upgrades in communities across all regions. 

Prime Minister Phillips also highlighted direct income support measures, including the $100,000 national cash grant for adults, increased old age pensions to $46,000 per month, transportation grants for schoolchildren and pensioners, and tax measures that increase disposable income for workers and households.

He rejected opposition criticism of Budget 2026, stating that those who now question national priorities had the opportunity to govern and left behind higher taxes, restricted access, and stalled development.

“The facts are recorded,” he said. “The country has moved on.”

Prime Minister Phillips concluded by stating that Budget 2026 entrenches a development model that is national in scope and deliberate in execution.

“This budget secures progress, expands access, and strengthens the foundation for long-term growth,” he said. “Guyana is not retreating. Guyana is advancing, and the benefits are being felt across the entire country.”