As the National Assembly prepares for the presentation of Budget 2026, optimism is building across Guyana’s private sector, with business leaders expressing confidence that the government’s fiscal plan will deliver tangible benefits, particularly for women and micro, small and medium-sized enterprises (MSMEs).
Finance Minister Dr. Ashni Singh confirmed on Monday that the national budget will be laid in the Assembly on January 26, setting the stage for what private sector stakeholders describe as another round of people-centred, growth-oriented policies shaped by sustained consultation and engagement.
By Tuesday, leaders of the Georgetown Chamber of Commerce and Industry (GCCI), the Private Sector Commission (PSC), and the Women’s Chamber of Commerce and Industry Guyana (WCCIG) were united in their assessment: the government’s consistent engagement with business is translating into confidence, predictability and opportunity.
Kathy Smith, the first woman President of the GCCI, elected in March 2025, said the budget process has become one defined by structured dialogue and mutual respect.
“Budget season for us always begins with consultations with our members,” Smith explained. “They share their ideas in different ways—emails, WhatsApp messages, phone calls—and we compile those submissions and present them to the Minister of Finance.”
Smith said the Chamber’s most recent engagement with Dr. Singh left the private sector feeling encouraged and heard.
“This has become a staple programme for the GCCI and private sector members. Every year before the budget presentation, the Minister ensures he engages us to understand what the private sector would like to see,” she said.
She pointed to the government’s willingness to revisit and act on proposals previously submitted, including incentives related to backup generators and productive sectors, as a key confidence booster.
“When we see ideas repeated and refined in subsequent budgets, it gives us confidence that consultation is not just symbolic—it matters,” Smith said.
She noted that the GCCI is particularly optimistic about increased support for MSMEs, a segment she said is growing rapidly and becoming more diverse.
“We are seeing more women and more young people entering the MSME space over the last two years because of the opportunities being created.
“Access to finance used to dominate the conversation. That’s no longer the case—finance is available. What we are now encouraging members to do is position themselves to access it,” she said.
Smith highlighted improved lending arrangements from commercial banks, alongside government-backed initiatives such as the Development Bank, as signs of a more enabling environment for business.
“We will continue to support the government’s pro-business initiatives because we have realised that this government is good for business. That is something the business community sees clearly,” Smith said.
That sentiment was echoed by President of the Private Sector Commission, Captain Gerald Gouveia Jr., who said the PSC’s submissions focused on broad, inclusive growth objectives—from empowering women and persons with disabilities, to improving take-home pay for workers and incentivising investment.
“Our goals included maximising take-home salaries, raising the minimum wage, reducing corporation tax, and creating incentives for businesses to do the right things,” Gouveia said.
He described the consultation process with the Minister of Finance as robust, fair and productive.
“He was receptive. In some cases, he said, ‘Great idea.’ In others, we debated back and forth. There were no easy wins, but there was fairness and pragmatism,” Gouveia said.
Gouveia said discussions spanned every major sector—from tourism and aviation to mining, manufacturing and infrastructure—and left the PSC hopeful that a significant portion of its proposals will be reflected in the final budget.
“Even if we see 50 per cent of what we asked for, that would be meaningful.
“The engagement was very fruitful, and I’m excited to see the presentation. I think it will do very good for the country,” he said.
Meanwhile, President of the Women’s Chamber of Commerce and Industry Guyana, Josephine Tapp, said the government has shown a growing appreciation for the role of women in economic development and long-term growth.
“In a relatively short time, we have touched almost every region through our work developing women and advancing opportunities,” Tapp said, noting that the Chamber has been actively engaging ministries, including Social Services and Finance, to feed ideas into the budget process.
“There is an acknowledgement that women are important to the economy and to sustainable growth,” she said.
“There is a willingness to engage and to understand how these initiatives can work practically.”
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