Government of the Republic of Trinidad and Tobago

Media Release: The IMF Annual Report underlines the dynamism of Trinidad and Tobago’s Economic Recovery

The Honourable Colm Imbert, Minister of Finance, welcomes the International Monetary Fund’s (IMF) Annual Report on Trinidad and Tobago, published on June 05 2024, which provides an independent assessment of our economy. The IMF underlines that “Trinidad and Tobago is undergoing a gradual and sustained economic recovery.”

The unemployment rate decreased to 3.2 percent in 2023 after peaking at 7.2 percent in 2020. Economic growth is broad based, led by the non-energy and energy sectors, while inflation is low.

The IMF hails the sharp decline in inflation, from 8.7 percent in December 2022 to 0.3 percent in January 2024, which is among the lowest in the world and contributes to shielding the purchasing power of the population.