Rodrigues says Budget 2026 “has something for everyone” as $1.558 trillion plan targets people, small businesses & growth

Minister of Tourism, Industry and Commerce Susan Rodrigues has hailed Budget 2026 as a people-centred financial plan that delivers wide-ranging benefits for citizens while advancing the Government’s development agenda for the next five years.

Reacting to the budget presented by Finance Minister Dr Ashni Singh on January 26, Rodrigues said the $1.558 trillion spending plan, themed ‘Putting People First’, reflects the administration’s commitment to improving the lives of all Guyanese without introducing new taxes.

“I want every Guyanese to know that Budget 2026 has something for everyone. It is the largest budget to be announced thus far, but importantly it has no new taxes,” Rodrigues said.

She explained that the measures outlined in the budget are designed to support every segment of society, including children, pensioners, workers, young people and entrepreneurs.

“This budget is one that is centred around people,” she noted. “It has something for our children, for our pensioners, for our working people, for our young people, for our entrepreneurs… and that is precisely why it is themed this year, ‘Putting People First’.”

Rodrigues also stressed that Budget 2026 marks the beginning of the Government’s new five-year development programme following the 2025 elections.

“This budget is the vehicle through which we will deliver on the commitments that we made in our manifesto in 2025,” she said. “This is the commencement of that work for the next five years and contained in this budget are allocations that will bring all of those plans and programmes to reality.”

Highlighting Guyana’s economic performance, the minister pointed out that the economy grew by 19.3 per cent in 2025, while the non-oil economy expanded by 14.3 per cent.

“This level of growth is unheard of… Guyana is doing exceptionally well and it’s not just about oil and gas,” Rodrigues said, adding that strong growth in agriculture, services and entrepreneurship shows the economy is diversifying in the right direction.

She welcomed a number of fiscal measures aimed at strengthening investment and business activity, including the creation of special development zones with tax incentives and the removal of corporate tax on agriculture and agro-processing.

“As the minister responsible for the Small Business Bureau, this is an important announcement that will help our small businesses to grow, especially our agro-processors,” she said.

Rodrigues also highlighted the removal of VAT on locally manufactured furniture and jewellery, noting that many local producers had been calling for such relief.

“This gives them now a further incentive to continue to play their trade,” she said.

A major announcement praised by the minister was the establishment of the Small and Medium-sized Enterprise (SME) Development Bank, backed by an allocation of US$100 million to improve access to financing.

“Historically, the number one constraint of small businesses has been access to finance,” Rodrigues said. “This year, we have made the further step of establishing the SME Development Bank.”

She explained that small and medium-sized enterprises will be able to access loans of up to $3 million collateral-free and interest-free, with the possibility of up to $10 million through co-financing arrangements.

“This is the real opportunity that people have been waiting for,” she said.

Rodrigues also outlined measures supporting housing and transportation, including raising the low-income mortgage ceiling to $30 million and removing VAT on vehicles under 1500cc.

She added that the elimination of duties and taxes on ATVs and outboard engines up to 150 horsepower would significantly benefit hinterland and tourism-dependent communities.

On the social side, she pointed to increases in the Because We Care cash grant, transportation and uniform grants, which together will now provide $85,000 per child annually for both public and private school students.

“There are incentives there for our pensioners and special incentives also for our working people,” she added, noting that the low-income tax threshold was again increased to allow workers to keep more of their earnings.

Rodrigues urged Guyanese to look beyond political criticism and assess the budget in its entirety.

“There’s going to be a lot of distraction… but Guyanese have to take a hard look at all of the measures announced collectively and you will see that every group of people in our country, there is something for them,” she said.

She concluded by reaffirming confidence in the Government’s ability to fulfil its promises.

“We delivered entirely on our 2020 to 2025 manifesto… and here again with our 2026 to 2030 manifesto, we will deliver all of the commitments that we made,” Rodrigues said.

“All Guyanese should be excited about this budget and… you will see how promising and how bright Guyana’s future is.”