Budget 2025 designed to address immediate needs while laying the groundwork for long-term prosperity

Vice President Bharrat Jagdeo, during his January 9, 2025, press conference, provided key insights into the government’s proposed 2025 national budget, describing it as a transformative plan aimed at fostering inclusive growth and improving the lives of all Guyanese.

He outlined how the budget reflects the administration’s priorities, including infrastructure development, job creation, education, healthcare, and social services.

“This budget is not just about numbers; it’s about people. It is designed to address immediate needs while laying the groundwork for long-term prosperity,” Jagdeo stated.

Historic Investments in Infrastructure

Jagdeo highlighted that one of the defining features of the 2025 budget is the unprecedented allocation for infrastructure development. He explained that investments in roads, bridges, drainage systems, and energy projects will serve as the backbone for Guyana’s economic transformation.

The Vice President also underscored the government’s commitment to renewable energy projects, such as hydropower plants and solar farms, as part of its strategy to reduce reliance on fossil fuels.

“These projects are not just about improving connectivity or providing reliable energy—they are about empowering businesses, creating jobs, and ensuring that every Guyanese benefit from mbenefitfrastructure,” Jagdeo said.

Focus on Human Capital Development

Education and healthcare were also spotlighted as major beneficiaries of the 2025 budget.

Jagdeo revealed that increased funding has been allocated to improve school infrastructure, provide scholarships, and expand access to technical and vocational training programs.

The healthcare sector will see significant investments in new hospitals, the procurement of advanced medical equipment, and training programs for healthcare professionals.

“Our focus is on building a skilled and healthy workforce. Education and healthcare are central to our vision of empowering our people and ensuring that no one is left behind,” he noted.

Strengthening Social Protection

Jagdeo emphasized that the 2025 budget prioritizes the welfare of vulnerable groups, including senior citizens, single parents, and low-income families. He highlighted plans to increase pension benefits, expand cash grants, and introduce targeted social programs aimed at reducing poverty and inequality.

“This budget reflects our commitment to equity and inclusiveness. We want every citizen, regardless of their background, to feel the positive impact of our policies,” Jagdeo said.

Economic Diversification and Private Sector Growth

The Vice President explained that the budget also aims to accelerate economic diversification by providing support for agriculture, tourism, and manufacturing sectors. Tax incentives and grants for small and medium-sized enterprises (SMEs) are included in the budget to encourage entrepreneurship and private sector growth.

“While the oil and gas sector is a critical pillar of our economy, we are ensuring that other industries thrive as well. Diversification is key to building a resilient economy,” he added.

Responding to Critics

Jagdeo dismissed criticisms from opposition groups that the budget is overly ambitious or favours specific. He argued that the budget is designed to create broad-based benefits and address the needs of all Guyanese.

“Ambition is necessary when you are building a nation. Every single initiative in this budget is carefully planned and aimed at creating a better future for all,” he stated.

Transparency and Accountability

Jagdeo also assured the public that the government is committed to transparency and accountability in implementing the 2025 budget. He emphasized that mechanisms are in place to monitor spending and ensure that resources are utilized efficiently.

“We are not just spending for the sake of spending. Every dollar in this budget is an investment in the future of Guyana,” Jagdeo said.

Looking Ahead

The Vice President expressed confidence that the 2025 budget will bring tangible improvements to the lives of Guyanese citizens while setting the stage for sustained growth. He urged citizens to remain optimistic and united as the government works to deliver on its promises.

“This budget represents hope, opportunity, and progress. Together, we will build a Guyana that we can all be proud of,” he concluded. The proposed budget is expected to spark intense debate in the coming weeks, with stakeholders from various sectors weighing in on its priorities and allocations.

However, Jagdeo’s address signals the government’s unwavering commitment to its development agenda.