Work was originally due to start on the state-of-the-art community hospital in Havant this summer after a decade in the pipeline.
But the recession has forced NHS Hampshire bosses to review every major project across the county.
Throughout June
all work on NHS projects has stopped.
And a crunch board meeting in July will look at the affordability of all its schemes –- including Oak Park Hospital.
Inger Hebden, director of capital planning at NHS Hampshire, said a reduction in future government funding meant they may not have enough money to pay off the loan needed for the hospital.
She told The News: 'We are taking stock of all our finances during June and will not be making any decisions until we can make sure we can afford it.
'I'm still hopeful (the hospital can be built) but not as confident as before. We need to concentrate on making sure that we provide all the services that Havant patients need even if we can't do everything we wanted to do.'
The hospital, which was given the go-ahead by Havant Borough Council in February, is aimed at taking the strain off the new Queen Alexandra 'superhospital' in Cosham by treating 25,000 out-patients every year.
Havant War Memorial Hospital was due to close when Oak Park was built but Mrs Hebden said it would remain open – along with 23 in-patient beds – for the foreseeable future.
Havant MP David Willetts said: 'I am very worried that this community hospital has been promised to us for years.
'It's an important part of the healthcare in our area. They are reviewing their finances and it's not yet dead.
'But the government has run out of money – they have completely messed up the education and health budget and we in Havant are the victims.
'I don't think this is the death knell, but there is a real question mark over it now.'
Chris Curry, an Emsworth resident who fought against the closure of Emsworth Cottage Hospital in 2007, said: 'We would be very disappointed if the hospital wasn't built because we had a long term vision.
'I'm appalled that they are fiddling about in this way.'
TAKING THE STRAIN OFF QAThe new hospital, in River Way, aims to take the strain off Queen Alexandra Hospital.
It aims to treat 25,000 outpatients a year.
The hospital was due to open in summer 2011 – but it could be many months later now.
It is hoped that 30 per cent of outpatients visiting Queen Alexandra Hospital will be able to go to Oak Park Community Hospital instead. A&E patients will still have to go to QA, while an in-patient unit will provide 25 beds.
The hospital will offer physiotherapy, speech and language therapy and occupational therapy, an ultrasound department and podiatry unit.
A furnace in the hospital will burn renewable fuels to provide heating and hot water.
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