Guyana’s largest budget charts path for transformation—PM Phillips

Budget 2026 is being described as a “forward-looking financial plan,” which will lead the way for the delivery of the policy agenda for economic and social transformation outlined by the People’s Progressive Party/Civic Government’s 2025 Manifesto.

In an invited comment, Prime Minister, Brigadier (Ret’d), Mark Phillips underscored his support for the largest budget in the history of Guyana.

He highlighted its depth and extensive nature.

“With major allocations in infrastructure, social programmes, energy security, and digital transformation, Budget 2026 comprehensively outlines a pathway for sustained growth and to improve the quality of life for all Guyanese.”

In 2026, $111.4bn has been allocated to the Office of the Prime Minister (OPM) to strengthen its capacity to deliver through the substantive agencies under its purview.

Prime Minister Phillips noted that the funds would aid the agencies in the delivery of their mandates. This includes major advancements in energy, information communication technology, digital transformation, telecommunications, disaster preparedness, and public communications which play a critical role in the overall enhancement of the country and its population.

He said that the $13.7bn allocated under the OPM for the energy sector represents the administration’s commitment to cleaner, more reliable, and affordable power.

A major component is the $10.7bn being invested to bring the 300 MW combined-cycle gas turbine power plant, an integrated Natural Gas Liquids (NGL) facility, GtE Phase One, online by the end of 2026.

“As the largest investment in power generation in the country’s history, the Wales GtE project is expected to double electricity generation capacity, enhance reliability, reduce fuel imports, and stabilise energy costs. Lower energy costs will directly translate into financial relief for households and businesses, increased disposable income, and expanded opportunities for local investment and enterprise across the country.”

The Prime Minister also highlighted the national renewable energy allocation of $6bn, He said that the allocation under OPM  forms part of the overall investment and is expected to support the expansion of solar farms and the addition of 21 new solar mini grids.

Beyond this, he said that Government is still keen on the development of the Amaila Falls Hydropower Project, which is currently out for expression of interest. This project, once active, will add 165 MW of electricity into the national grid.

He explained that the “investments will bridge long-standing gaps in energy access and ensure that our rural and hinterland residents benefit equally from national development.”

Digital transformation and innovation is another key developmental tool, and the funds this year will help to expand broadband connectivity, advance digital services and cyber-security initiatives, facilitate the National e-ID programme, and the expansion of ICT hubs and related training throughout the country.

“We are building a modern, secure, and digitally inclusive Guyana. From improved access in hinterland villages to advanced digital services across Government, this budget empowers citizens and strengthens our national competitiveness.”

Phillips, who also holds responsibility for disaster preparedness, highlighted that under his office, disaster response systems and emergency preparedness are key pillars that underscore the Government’s commitment to building a safer and more resilient Guyana.

He added that the $73.68bn allocation to the CDC reinforces operational readiness and will serve to strengthen logistics and humanitarian support, while funding critical areas such as essential supplies, early warning systems, and expansion of capabilities to deal with disasters locally.

Budget 2026 also provides targeted allocations to strengthen public communications and advance the telecommunications sector under OPM, which enables both areas to broaden and improve their work programmes.

The 2026 National Budget was presented on January 26th by Senior Minister in the Office of the President with responsibility for Finance, the Honourable Dr Ashni Singh, under the theme “Putting People First.”