The way the States of Guernsey has chosen to fund major capital projects could be risky, the Treasury and Resources Minister has warned.
Deputy Charles Parkinson said that while all the projects planned could go ahead, there was no flexibility.
The States opted to borrow internally instead of externally, which was the department's preferred option.
He said the department's choice was a "pragmatic approach", and the risks it had identified could be managed.
The 19 major capital projects planned for the next six years include the development of the airport runway, new mental health care facilities and Les Beaucamps school development.
The Belle Greve Wastewater Disposal Facility, new cranes and pontoons in St Peter Port harbour, various IT systems and work on Cobo sea wall are also on the list.
The only project to be put on hold was a £6m cash injection into Aurigny, the airline owned by the States of Guernsey.