Dear Editor,
I listened to the budget presentation where the Finance Minister projected that Guyana’s economy will grow by 16.2% this year, driven largely by oil and gas. It was another reminder of just how dramatically our country has changed in a very short space of time. Since first oil, Guyana has moved from a promise to performance, and the figures now reflect that transformation.
Oil production expected to average close to a million barrels per day, alongside projects like Yellowtail and Uaru coming onstream, places Guyana firmly among serious global producers. More importantly, this translates into real national income. The projected billions of USD in oil revenues for 2026 will fund nearly a third of the national budget, supporting investment in infrastructure, social services and productive sectors.
At the same time, many Guyanese continue to feel the pressure of rising living costs, and it is fair for people to ask when will oil wealth ease that burden. The reality is not what most would want to hear, but these revenues are being channeled into long-term solutions that take time to translate into lower prices and improved household stability.
What is encouraging is that even as oil remains the dominant driver, the non-oil economy is still projected to grow by a strong 10.8%. This matters, especially for young people. Oil alone cannot employ everyone, but the growth it stimulates across construction, manufacturing, agriculture etc. creates pathways for youth employment, training, and entrepreneurship that simply did not exist before.
For many young Guyanese, this moment represents something deeply personal. It represents the possibility that education and skills can now lead to opportunity at home, rather than migration being the only option. The State’s growing role as an oil producer, lifting its own cargo under the PSA, further reinforces that this is not just foreign activity happening offshore.
Growth figures are not the end goal; they are a tool. The true measure of success will be whether oil-driven growth helps lower the cost of living over time and builds a future where young Guyanese can thrive. The opportunity is real, and so is the responsibility. How we use this moment will define not just our economy, but the lives of the next generation.
Sincerely,
Roger Wilson
