Dear Editor,
In the coming days, many will become overnight budgeting experts. Yet most self-proclaimed fly-by-night experts lack the most rudimentary understanding of what a budget truly is, what it seeks to accomplish, and how it is crafted. While their commentary will be loud and bold, we need to take their commentary with abundant caution.
For those interested in the national budget, it is important to first understand that the budget is an annual plan that seeks to fulfill the government’s manifesto promises (a medium-term policy). Any analysis of the budget should therefore start with the question “Is the budget designed to translate the governing party’s manifesto into action?” If the answer is yes, the budget can therefore rightly be considered a ‘good budget’ because it signals that the government is delivering on its commitment to the people. This year’s budget, like those presented over the last five years, is extremely good because it is perfectly aligned with the 2025 Manifesto.
It is also important to recognise that it is very rare that a single budget will implement all the measures in the government’s manifesto. Indeed, many promises require multiple budgets to be fully implemented. Equally important is that the benefits of some manifesto promises are not immediate but are fully realised in the medium-to long-term.
For this reason, judging a budget solely on short-term outcomes misses the bigger picture. A well-constructed budget is not about instant gains or gratification but rather lays the foundation or builds on it for sustained progress. Again, this budget builds on the foundation laid by the government to promote broad-based, people-centric development.
This budget, for instance, offers direct transfers, targeted social support programmes, and increases in Old Age Pension and Public Assistance that will benefit the most vulnerable in the short-term. It also includes measures to stimulate economic growth, create sustainable businesses and jobs, and enhance citizens’ well-being in the medium and long-term. In other words, this is a budget that balances immediate relief for citizens with investment that will provide benefits way beyond 2030.
Editor, any deep analysis of this year’s budget will therefore confirm that it is not only the biggest, but one that will continue to transform the social and economic landscape of our country. Beyond its scale, this budget is designed to deliver sustained benefits that will uplift every community, develop our transport infrastructure, and expand opportunities in every economic sector.
In this increasingly uncertain global environment, the 2026 Budget will continue to insulate Guyana from global shocks that have wreaked havoc across the world, as countries struggle to register economic growth exceeding 3% and curtail inflation at low single-digit rates. In this regard, this year’s budget will position Guyana as a beacon of resilience and progress, a shining star whose development story would be an exemplar.