Guyana’s economy is projected to grow by 16.2% in 2026, with the oil and gas sector continuing to be the dominant driver of expansion, Finance Minister Ashni Singh said on Monday.
During a reading of the government’s 2026 budget in Georgetown, Singh said the oil sector is expected to expand by 17.9% this year, underpinned by higher offshore crude production, while the non-oil economy is forecast to grow by a still-robust 10.8%.
Oil output is projected to average about 840,000 barrels per day (b/d) in 2026, up from an estimated 715,000 b/d in 2025, as production stabilizes at ExxonMobil’s Yellowtail project and the Uaru project is commissioned.
The government expects the country to export 309 cargoes of crude oil this year. Of that total, Guyana’s share is estimated at 40 lifts, each averaging about one million barrels, reflecting the State’s entitlement under its Stabroek Block production sharing agreement (PSA) with ExxonMobil Guyana.
Singh said the government expects to earn about US$2.4 billion from sales of its crude entitlement in 2026. Additional inflows are projected to include US$375.3 million in royalties and a US$17 million signing bonus from Cybele Energy, bringing total oil revenues to an estimated US$2.79 billion.
Oil revenues are expected to fund GY$495 billion (US$2.37 billion) of the 2026 national budget, which totals GY$1.558 trillion (US$7.47 billion). The spending plan is aimed at sustaining growth in infrastructure, social services and productive sectors, while maintaining strong expansion in the non-oil economy.
Guyana, one of the world’s fastest growing economies, has transformed into a major oil producer since offshore output began in late 2019. Exxon has an installed oil production capacity totaling 900,000 b/d.
