Vice President and General Secretary of the People’s Progressive Party/Civic (PPP/C), Dr Bharrat Jagdeo, says Guyana may still record “a fairly high degree of capital spending” even as several major infrastructure projects are completed due to the party’s ambitious development programme.
Jagdeo provided the foregoing perspective at his press conference on Thursday. There, he was asked whether 2027 to 2028, still remains a reasonable timeline to see a reduction in capital expenditure. The Vice President explained that while several major projects including hospitals and road networks were completed, and some near completion, new initiatives will keep capital spending levels up.
Jagdeo first pointed to the government embarking on building 12 new hospitals, some of which are already completed. Added to that, he said there are other hospitals that need rehabilitating or rebuilding. He mentioned that the Linden and West Demerara hospitals will need rehabilitation and the same for Bartica or possibly a new hospital in that area.
The Vice President also disclosed plans for the Georgetown Public Hospital, turning it into a modern health facility. “So that’s the additional capital expenditure I’m talking about there,” Jagdeo noted.
While some major projects will begin to fall off the books, he said new ones will take their place. He highlighted works planned for the widening of the Supenaam to Charity road, a four-lane highway from Parika to the new Demerara River Bridge, a four-lane road from Mahaica to Rosignol, and from New Amsterdam to Molson Creek and new road networks to Bartica, Orealla, and Aishalton.
“So I think we may, given the ambitious programme, we may still see a fairly high degree of capital spending, but it will be on the new things, because these will come off the books,” Jagdeo said.
He explained that over the next five years, the government expects to deliver a wide range of modern infrastructural projects and services, which he said would lead to more jobs and economic opportunities. Notably, he stressed that if oil prices remain stable, Guyana would be able to fund more development using its own resources and save significant revenue for future generations.
