June 9, 2024 – Finance Minister Colm Imbert today sought to increase the national appropriation for fiscal 2024 by $2.3 billion during the mid-year budget review in Parliament. He stated that the additional money was deemed an “inescapable expenditure” for several heads of expenditure.
However, Imbert also noted a positive trend: while the government is seeking to increase its budget, its deficit is decreasing. When Imbert initially read the budget in October 2023, he predicted the deficit to be $5.196 billion; however, he reported a significant decrease in that projection during today’s review. This update highlights the government’s current fiscal management and outlook for the Trinidad and Tobago economy.
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