See below the full release from the PSC:
The Private Sector Commission (PSC) welcomes Budget 2026 and the comprehensive set of measures aimed at stimulating economic growth, strengthening business competitiveness, and improving the quality of life for all Guyanese. With a total allocation of S1.588 trillion, the budget reflects a clear commitment to creating an enabling environment where enterprises can grow, investment can expand, and citizens can share meaningfully in national development.
From a business and productive activity standpoint, the measures announced will significantly enhance the operating landscape for the private sector. Targeted incentives through Special Development Zones, the removal of corporate tax on agriculture and agro-processing, revisions to the export allowance framework, and the removal of VAT on locally made furniture and jewellery all serve to boost local production, value-added activities, and export competitiveness.
The establishment of a dedicated SME Development Bank, supported by substantial capital injections, micro-credit facilities, and co-investment financing, is particularly timely and will strengthen entrepreneurship, innovation, and job creation across priority sectors.
The PSC also notes the positive impact of measures aimed at lowering business and household costs. The removal of VAT and duties on security equipment, vehicles, hybrids, ATVs, and outboard engines, along with the maintenance of zero excise tax on fuel and adjusted import tax calculations, will help to reduce operational expenses for businesses while easing the cost of living for consumers. These interventions improve efficiency, enhance mobility, and support productivity across the economy.
Equally important are the initiatives that support families, workers, and the most vulnerable.
Increased grants for children, transportation, uniforms, education, pensions, and public assistance, alongside the removal of corporate tax on child-care and elderly-care facilities, will contribute to a more stable and resilient workforce. By putting more money into people’s pockets through higher income tax thresholds, the removal of net property tax, cash grants, and increased stipends, the budget is expected to inject approximately $100 billion into disposable income, driving consumer demand and supporting business growth.
Overall, Budget 2026 represents a balanced and forward-looking approach that aligns private sector development with social progress. The PSC believes these measures will strengthen the business community, stimulate investment, expand opportunities for small and large enterprises alike, and deliver tangible benefits to all Guyanese as the country continues on its path of sustainable economic development.
The post Support for investors, families and workers in Budget 2026 – PSC appeared first on News Room Guyana.
