The preparation of the 2026 National Budget has commenced, but the opposition coalition APNU is voicing concerns over a perceived lack of consultation regarding the budget plans and programs.
The budget is expected to be presented to the National Assembly by the end of January or early February. Aubrey Norton, Chairman of APNU and Leader of the PNC Reform, expressed apprehension over the government’s resource allocation strategies during the coalition’s weekly press conference on Friday.
“The fundamental problem we face is the skewed allocation of resources into programs and projects that allow family friends and favorites to get rich,” Norton stated. He questioned the government’s ability to produce a budget that genuinely serves the interests of the people of Guyana, asserting, “It is very difficult for them to change that paradigm.”
Norton expressed skepticism regarding the Irfaan Ali Administration’s commitment to equity in its budget development. The 2025 National Budget, pegged at $1.382 trillion, marked a 20.6% increase compared to the previous year, contributing more than US$2.5 billion in oil revenues to the national coffers.
While the government has touted advancements in infrastructure development, Norton criticized what he termed reckless spending of oil resources amid ongoing societal challenges for citizens. He pointed out that between September 2024 and September 2025, the government spent 89% of its earned oil revenues, which resulted in only marginal growth of the Natural Resource Fund (NRF).
“Attempts by the Minister of Finance to boast about the size of the NRF deliberately mislead the public. The reality is stark: had it not been for statutory restrictions, the fund would have nearly depleted under this wasteful administration. This is not fiscal stewardship; it is wastefulness, incompetence, and corruption masked by selective storytelling,” Norton asserted.
APNU insists that a portion of the country’s oil wealth should be reserved for future generations and difficult times. They argue for strategic investments and transparent management of resources to uplift all Guyanese, rather than allowing rapid consumption to support a government lacking a long-term economic vision.
Norton further noted that the current situation is compounded by potential negative economic impacts on trade due to recent geopolitical developments within the Latin America and Caribbean region.
