– reflecting more Guyanese families working, earning, financially secure and credit-worthy

Georgetown, Ministry of Finance, February 11, 2026:  As the debates on the 2026 National Budget wrapped up on Friday last, Senior Minister in the Office of the President with Responsibility for Finance Dr. Ashni Singh, in responding to claims by the Opposition that the Budget has nothing for the ordinary man,  told the National that since the People’s Progressive Party/Civic returned to office, more Guyanese families have been working and earning and many have become more financially secure and credit-worthy and this is reflected in the credit to households almost doubled since 2019. He noted that in that year credit to households amounted to $33.5 billion. By the end of 2025 this figure almost doubled to $66.1 billion, Dr. Singh added.  

Turning his attention to real estate mortgages, Dr. Singh highlighted that at the end of 2020 when government took office, total credit in this area amounted to $90.6 billion and by the end of 2025, this was more than doubled reaching $185.4 billion dollars.    

Moreover, Dr. Singh pointed out that though government is building out so much infrastructure, vehicles on the roadways have been increasing at an enormous rate reflecting how many more citizens and families are able to purchase them.   

“Mr. Speaker the infrastructure that we are building out, the roads that for so long have been inadequate to handle the rapidly growing traffic, many speakers on our side of the house made reference to the fact that we now import basically 9,999 motor vehicles every three months- those are Guyanese families becoming owners of their own transportation and that didn’t happen by magic,” he emphasized.

Minister Singh explained that this is happening because  more families are working, more are earning, more are in a position to go to the bank and take a loan because they have incomes and have demonstrated accumulation of some amount of  savings in the bank,  more are being financially included, credit worthy and have assets with which  they can pledge. Thus, even with the local commercial banks having a conservative posture, many are considering more Guyanese to be a good credit risk, Dr. Singh pointed out. 

“It is important that we understand what is happening. Mr. Speaker, credit by the banking system to households- these 10,000 cars every quarter didn’t happen by magic, you have to have a good credit risk because the banks are lending other people’s savings. At the end of 2020, total credit by the banking system for the purchase of motor cars was G$10.4 billion dollars. The year before it was G$9.3 billion. At the end of 2025, total credit for the purchase of motor cars is now a whopping G$33.3 billion dollars, more than three times what it was in 2020,” Minister Singh told the National Assembly.

He concluded his arguments by reaffirming that the PPP/C government led by President Irfaan Ali will continue to work hard every day for the next five years to ensure that the economy continues to grow and that every single Guyanese benefits.

“Our manifesto spells out what we will do, and as my colleagues have said before me, Budget 2026 represents the first instalment in the delivery of that manifesto. The privilege is mine, on behalf of the People’s Progressive Party/Civic Government, to thank everyone in this House who contributed to this debate, not only my Colleagues on this side of the House, but in fact, even those on that side of the House, to thank all of them for putting on display once again to the Guyanese people why a vote for the People’s Progressive Party/Civic is a vote for Guyana and for the Guyanese people,” he added.

With the Budget debates wrapped up on Friday last, the National assembly is currently considering the 2026 estimates of revenue and expenditure for every Ministry and agency, and this will continue for another few days.