Chairman of the Private Sector Commission (PSC), Komal Singh, has commended the 2025 National Budget, highlighting its role in ensuring continuity and fostering an enabling environment for private sector growth in Guyana. Speaking during a recent interview on “The Guyana Dialogue,” Singh underscored the significant confidence both local and foreign investors have in Guyana’s rapidly expanding economy.

According to Singh, private sector investments in Guyana—excluding major oil and gas projects—have surpassed US$2.5 billion over the past four years. This, he noted, demonstrates the business community’s unwavering trust in the country’s economic trajectory.

“From a general perspective, Budget 2025 is recognized as one that ensures continuity from 2024 and previous years in terms of development,” Singh stated. He emphasized that the private sector remains committed to Guyana’s progress and is pleased with the government’s efforts to facilitate sustainable growth and job creation across various industries.

Addressing the importance of infrastructure, Singh stressed that a well-developed infrastructural framework is essential for Guyana’s continued economic growth. “If you look at 2024 and the projection for 2025, all our sectors have shown significant improvements, and these growth trends are reflected in the 2025 budget as well,” he added.

Following the budget’s presentation earlier this month, the PSC released a statement praising the government for introducing a transformative national financial plan. The commission acknowledged the far-reaching impact of fiscal reforms on the lives of Guyanese and the private sector alike.

The PSC particularly welcomed the removal of value-added tax (VAT) on critical business inputs such as agricultural machinery and backup generators, citing it as a positive move that will bolster private sector expansion. The commission further asserted that the budget will empower businesses to drive innovation, create employment opportunities, and strengthen the national economy.

Additionally, the PSC lauded the government’s focus on maintaining macroeconomic stability, tackling inflation, and investing in resilient infrastructure. These measures, it stated, are pivotal in fostering a robust and sustainable economic environment.

The 2025 budget is expected to enhance Guyana’s economic framework, providing the private sector with the necessary tools to contribute meaningfully to the nation’s continued progress.