House approves $1.5 trillion National Budget

Feb 14, 2026 News

(Kaieteur News) – Guyana’s largest budget ever, $1.558 trillion, was on Friday evening passed, following five days of debates and another five days of considerations in the Committee of Supply.

Themed “Putting People First,” the budget marks the first to be presented by the administration since its re-election in 2025. Key provisions include a $5,000 increase to the old age pension and $3,000 more for public assistance recipients. Other population-focused measures include the $100,000 cash grant for every adult Guyanese aged 18 and over, alongside initiatives aimed at supporting home and vehicle ownership, encouraging business startups, and diversifying the economy.

Several ministries received allocations exceeding $100 billion in the 2026 budget, reflecting government priorities in infrastructure, housing, health, and public services. The Ministry of Public Works leads with $227.2 billion, followed by the Ministry of Housing at $159.4 billion, the Ministry of Public Utilities and Aviation at $140.1 billion, the Ministry of Health with $135 billion, the Ministry of Finance with $116.9 billion, the Ministry of Education at $100.2 billion, and the Office of the Prime Minister which received $111.4 billion.

House approves $1.5 trillion National Budget

Senior Minister with responsibility for Finance Dr. Ashni Singh

Other ministries allocations include the Ministry of Human Services and Social Security at $78 billion, the Ministry of Local Government and Regional Development at $36.7 billion, the Ministry of Agriculture at $67.6 billion, the Ministry of Tourism, Industry and Commerce at $26.3 billion, the Ministry of Culture, Youth and Sports at $10.9 billion, the Ministry of Foreign Affairs and International Cooperation at $10 billion, the Ministry of Natural Resources at $3.3 billion, the Ministry of Public Service, Government Efficiency and Implementation at $8.1 billion, the Ministry of Home Affairs at $52.1 billion, and the Ministry of Amerindian Affairs at $7.5 billion.

Dr. Singh had explained that the 2026 budget was crafted to give effect to President Irfaan Ali’s vision for a modern, prosperous Guyana, providing opportunities for every citizen. He also noted that the budget is financed with no new taxes and is 12.7% larger than the 2025 budget.

Government intends to transfer $495 billion (approximately US$2.4 billion) in oil revenue from the Natural Resource Fund (NRF) to finance the budget, with an additional $49.7 billion expected from carbon credit inflows.

The government will remove corporate taxes on agriculture and agro-processing businesses to increase retained earnings and encourage greater investment. The Guyana Development Bank, first announced last year, will be funded with a US$100 million allocation in Budget 2026 to provide micro-credit loans up to $3 million at zero interest and zero collateral for SMEs, young entrepreneurs, women, and persons with disabilities. The programme will also pair these startups with mentorship and training, and a co-investment model will allow access to an additional $7 million from commercial banks at preferential rates.

Housing support includes an increase in the low-income mortgage ceiling from $20 million to $30 million and $7.5 billion to help families upgrade their homes through initiatives such as the steel and cement subsidy.

To ease the cost of living, the budget introduces a flat tax of $2 million on double-cab pickups under 2,000 cc and $3 million for pickups between 2,000 cc and 2,500 cc, regardless of age, while removing VAT on new vehicles below 1,500 cc and less than four years old.

A total of $9 billion is allocated for measures to address the cost of living, including: increase in the Because We Care Cash Grant from $50,000 to $60,000; annual $20,000 transportation grant for schoolchildren; free first eight CSEC and CAPE subjects; annual $20,000 transportation grant for old age pensioners; income tax threshold increase from $130,000 to $140,000; stipend increase for Pathway Workers, Community Enhancement Workers, Community Service Officers, and Community Policing Groups from $40,000 to $50,000 per month and removal of net property tax on individuals.

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Dr. Ashni Singh, Guyana budget, Putting People First, trillion

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