APNU’s oil-based election campaign promises “unrealistic”

Last Updated on Friday, 11 July 2025, 22:30 by Writer

People’s Progressive Party Civic (PPPC) General Secretary, Bharrat Jagdeo on Thursday heaped criticism on the opposition People’s National Congress Reform (PNCR)-led A Partnership for National Unity (APNU) for banking all of its promises on projected increases in oil revenues.

“That’s what we got from the rally – a lot of extravagant promises that are unsustainable,” he told a news conference at his party’s headquarters, Freedom House.

He said APNU, at the launch of its campaign for the September 1, 2025 general and regional elections seemed not to have taken account of volatile oil prices that could drop drastically at any time. “What if oil prices fall next year or this year? What are they going to do if you base the implementation of all your promises only on oil money so what happens if it goes?” he asked.

Among APNU’s promises were a 35 percent salary hike, infrastructure development, GY$100,000 old age pension, GY$120,000 allowance per child, unspecified cash transfers, increased financing for small and medium businesses and sponsorship of all national athletes. At today’s oil price, experts project that Guyana would earn US$10 billion annually from 1.5 million barrels of oil per day.

Mr Jagdeo recalled that in 2015 oil prices had decreased from US$120 per barrel to US$30 per barrel, resulting in the then APNU-led David Granger administration saving about US$400 million in the fuel import bill. He said if that happened again, APNU would be unable to keep its electoral promises “much less build a whole campaign around something that is not certain.”

“It’s a lie! It’s extremely stupid and it’s designed to mislead people,” he said.

If an APNU-led administration pays a 35 percent increase in wages and salaries, Mr Jagdeo said there would be no money available for health, education or infrastructure. “It’s just not unsustainable. You have to be taken from the madhouse to make a promise like this but they actually done this on their campaign trail so who could believe anything that they say,” said Mr Jagdeo, a former Finance Minister.

The APNU and the Alliance For Change (AFC) had expressed concern about the PPPC administration’s failure to balance the heavy investment in infrastructure instead of human development including higher wages, salaries and pensions.