Budget 2026 is exceptional, a deliberate catalyst for continued national development

Feb 01, 2026 Letters

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Dear Editor,

The Government has presented to the people of Guyana an exceptional Budget for 2026, one that functions not merely as a fiscal plan, but as a deliberate catalyst for continued and sustained national development and multi-sectoral transformation on a grandiose scale.

From the outset, it is important to acknowledge an obvious truth: no budget is ever perfect. I submit to you that every national budget, without exception, contains areas that invite criticism, critique and demand refinement. That reality is neither new, unusual nor problematic; it is the essence of democratic governance and public accountability that our country’s democracy enjoys. What matters, however, is not perfection, but direction, intent, and real tangible and intangible positive impact.

Budgets are not merely abstract financial instruments. They are, fundamentally, moral and political documents. They reveal a government’s priorities, its values, vision and its commitment and responsiveness to the lived conditions, experiences and realities of its citizens. Judged by this standard, I put it to you, that the government’s 2026 Budget stands firmly as a people-first framework, one that carefully balances immediate social support with long-term economic transformation, and social protection with productive and pragmatic investment.

It is entirely reasonable that citizens, myself included, may wish to see even greater allocations for public assistance and our senior citizens. Such concerns are valid and legitimate and have been echoed by citizens across passed administrations and generations. They are part of the ongoing national conversation about equity and care. However, it would be intellectually dishonest to dismiss the overall thrust and coherence of the Budget based on selective dissatisfaction, divorced from its broader developmental logic.

While the Opposition has chosen to focus narrowly on the title or theme of the Budget or selected headline figures, and recycled proposals, the government’s approach is anchored in outcomes, some immediate, others structural and long-term. These outcomes include improved wages through respectful and practical collective bargaining processes with unions, enhanced working conditions, expanded employment opportunities, stronger household stability, increased home ownership, and safer, cleaner communities. Central to this framework is the deliberate empowerment of our country’s young people through free access to education, skills training, entrepreneurship, and increased access to affordable financing. Investments in the creative or “orange” economy, alongside the building out of modern sporting and recording facilities, further signaling its strategic commitment to nurturing talent and diversifying the economy beyond the traditional sectors.

Equally significant, is the treatment of senior citizens. Budget 2026 ensures that our aging Guyanese can live with dignity through expanded healthcare access, free medicines, strengthened and enhance community health centres, transportation grants, spectacle and denture assistance, and increased old-age “assistance”. I deliberately use the term assistance rather than “pension” for it connotes previous work, as this sustained provision is non-contributory and universal in nature, an entitlement to all Guyanese 65 years and over, grounded in citizenship and age alone, not prior income or location of employment. Whether one resided locally or spent most of their productive years abroad in the diaspora, this continuous support remains a birthright.

Importantly, when seniors are adequately supported, financial pressure on working families is reduced, enabling greater savings, investment, and intergenerational stability. Social protection therefore strengthens not only households, but the wider economy.

Budget 2026 does not merely spend; it invests. It converts public resources into human capability, ensuring that national growth translates into tangible improvements in the daily life of our people. At its core, a national budget serves two fundamental purposes: to improve living standards now and to prepare the country for the future. This Budget accomplishes both by explicitly linking national investment to jobs, incomes, education, healthcare, agriculture, tourism, security, youth, etc. opportunity for ordinary Guyanese families.

Much have been said about the scale of investment in infrastructure, with critics attempting to reduce the investment to “concrete, stone, and cement.” Such characterisations ignore economic reality. Infrastructure investment delivers immediate and widespread benefits. It creates employment, economic empowerment, it lowers transportation and production costs, improves access to schools, hospitals, and markets, and enhances business efficiency. Improved roads reduce travel time and fuel consumption, help stabilise transportation fares, allow farmers quicker access to markets, and ultimately help contain food prices.

A bridge is not merely concrete; it is a child reaching school sooner, a patient accessing healthcare faster, and a small business expanding its reach more efficiently.

No economy, in the developed or developing world, has achieved sustained growth without first building the physical backbone that connects people to opportunity. Infrastructure is not detached from human welfare; it is the mechanism through which people access jobs, services, and income.

For citizens who ask, “What is in it for me?”, Budget 2026 provides clear answers: free access to education and healthcare; direct cash grants to adults and school-aged children through the Because We Care initiative and for new born babies ; housing support through lower and interest free loans and building material assistance; interest-free financing for business start-ups and expansion; increase in the income tax threshold; no new taxes; and expanded opportunities for enterprise across all regions with specialised concessions for those in the tourism and agricultural sector, the creative sector and for value added in manufacturing and processing of local products and more too numerous to mention.

There have also been claims that the Budget is overly dependent on oil revenues and that declining oil prices could expose Guyana to so-called “Dutch Disease.” Such assertions are misguided and certainly they misunderstand both fiscal architecture and economic theory. Oil revenues under this Budget are not being directed toward reckless consumption, but toward investments that lower national production costs, expand human capital, and diversify the economic base, specifically in agriculture, tourism, mining, manufacturing, and education. It is important to note, that Dutch Disease occurs when resource revenues crowd out the productive sectors. Budget 2026 does the opposite; it crowds them in. Our country’s finite oil wealth is being deliberately transformed into permanent national assets that enhance resilience long after petroleum revenues decline.

Responsible governance requires the prudent use of available resources while planning for volatility. Like gold, bauxite, timber, and other commodities, oil prices fluctuate. This Government has anticipated that reality and responded by investing in diversified sectors and human capital which is precisely the safeguards required for long-term economic stability.

In sum, the 2026 Budget reflects careful, prudent and responsible stewardship of our country’s national resources. It prioritises long-term development over short-term consumption, it protects the most vulnerable, it invests decisively and consciously in our country’s greatest assets our youth, and it strengthens the foundations of a diversified economy beyond oil. In doing so, it enables all Guyanese to live better today while building a stronger, more resilient nation for tomorrow.

In every meaningful sense, Budget 2026 is a budget for the benefit of all the people of our country, whether at home or returning from “Africa, England, or the wider Caribbean”, it caters for you.

Yours respectfully,

Jermaine Figueira

Former Member of Parliament

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• Budget 2026, Jermaine Figueira, Letters, national development

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