Mobile – Ministry of Finance

State Enterprises Investments Programme 2026 (Mobile Version)

Ministry of Finance — Fri, 19 Dec 2025 17:15:00 +0000

State Enterprises’ purchasing power has been shielded largely by the lower rate of inflation prevailing in the domestic economy, compared to other Eastern Caribbean economies ranked by the International Monetary Fund (IMF), as amongst the lowest in the world. In contrast, the IMF, in its July 2025 Update of its World Economic Outlook (WEO), laments the significant uncertainty and downside risks due to geopolitical threats and a potentially unclear policy path following political changes in 2024. The IMF also forecasts a decline in energy commodity prices by 2.6% in 2025, influenced by weak Chinese demand and increased supply from non-OPEC+ nations.

Total investment in fixed capital by the State Enterprises sector for fiscal 2025 is projected to be just over $4,092 million. Of that sum, approximately 67 percent is expected to be incurred between the period April to September 2025. Driving the total projection for 2026 is expenditure in the Energy sector, in the vicinity of $1,800 million. Heritage Petroleum Company Limited accounts for the largest share of that sum, amounting to some $1,225 million from retained earnings, mainly on land and drilling projects. At a distant second in the Energy sector, The National Gas Company of Trinidad and Tobago Limited, projects expenditure circa $329 million from retained earnings by the end of fiscal year 2026, 77 percent of which will be concentrated on the Beachfield Manatee Upgrade.

Looking ahead to 2026, the State Enterprises Investment Programme is projected to be just over $3,619 million towards fixed capital. Again, the bulk of this investment, estimated around $1,816 million will be attracted by the Energy sector, with Heritage Petroleum Company Limited taking the lead, with ongoing offshore and land drilling projects. The National Infrastructural Development Company Limited will be advancing the San Fernando to Point Fortin Highway where the priority link is 93% complete.

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Social Sector Investment Programme 2026 (Mobile Version)

Ministry of Finance — Wed, 17 Dec 2025 18:05:00 +0000

T&T’s social sector remained a stabilising force in FY 2025, with approximately TT$21.99 billion (about 33% of total expenditure) channelled to key Social Sector Ministries (SSMs) and the THA to protect the vulnerable, build human capital, and sustain community resilience. Over the 2021 to 2025 period, allocations averaged approximately 35% of the national budget, rising from 32% in FY 2022 to 37% in FY 2023, 38% in FY 2024, before easing to 33% in FY 2025, signalling consistent prioritisation despite tighter fiscal space.

FY 2025 unfolded amid fiscal headwinds and social pressures common across the Caribbean. Even so, the social sector continued to anchor equity, access, and resilience, consistent with the role described in prior SSIPs. The GoRTT budgeted TT$54.224 billion in revenue and TT$59.741 billion in expenditure (deficit TT$5.517 billion; 2.91% of GDP). Within this envelope, SSM’s expenditure solely focused on education, health, social protection, community development, housing, and youth, anchoring inclusive growth and social stability.

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Review of the Economy 2025 (Mobile Version)

Ministry of Finance — Wed, 17 Dec 2025 18:00:00 +0000

Fraught with uncertainty and underwhelming, albeit steady performance, the global economy in 2025 will see its slowest growth since the COVID-19 pandemic, stemming primarily from a series of shocks from the United States (US) trade policy and other volatile geo-political tensions around the world. As such, the IMF has forecasted global growth to falter to 3.0 percent in 2025. Similarly, the World Bank (WB), expects growth to weaken to 2.3 percent in 2025, with decelerations in most economies as compared to 2024. Despite the weakened outlook, the global economy is not expected to fall into a recession.

For Latin America and the Caribbean, growth is projected to decline from 2.4 percent in 2024 to 2.2 percent in 2025. This decline is largely due to a revision in Mexico’s growth by 1.7 percent for 2025, reflecting weaker-than-expected activity in late 2024 and early 2025, as well as the impact of the US tariffs, related uncertainty and geopolitical rigidities and a tightening of financing conditions. In Advanced Economies, the IMF has projected growth of 1.5 percent in 2025 from 1.8 percent in 2024. For the Euro Zone, growth is projected to marginally increase to 1.0 percent in 2025, from 0.9 percent in 2024. Following a marked slowdown in 2024, growth in Emerging and Developing Asia is expected to decelerate further to 5.1 percent in 2025 from 5.3 percent in 2024, as within this region, the Association of Southeast Asian Nations (ASEAN) countries have been among the most affected by the April tariffs.

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Ministry of Finance Budget Statement 2026 – T&T First: Building Economic Fairness through Accountable Fiscal Policies (Mobile Version)

Ministry of Finance — Fri, 17 Oct 2025 21:12:15 +0000

Budget Statement 2026 – T&T First: Building Economic Fairness through Accountable Fiscal Policies presented by Presented by the Minister of Finance the Honourable Davendranath Tancoo, MP., Minister of Finance in the House of Representatives on Monday, October 13, 2025.

Mr. Speaker, I am honoured to deliver the UNC’s inaugural Budget.

On April 28, 2025, the people of Trinidad and Tobago, by their collective action, gave this UNC Government a resounding mandate to restore good governance, rebuild our economy and improve the lives of every citizen across our beloved nation.

They asked for sincerity and compassion in government. They asked for a credible plan to move Trinidad and Tobago forward.

They asked for jobs, growth, prosperity and social peace. It is therefore a profound privilege to present the 2026 Budget to this Honourable House.

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Review of the Economy 2024 (Mobile Version)

Ministry of Finance — Fri, 01 Nov 2024 15:33:22 +0000

Following four years of turbulence triggered by a devastating pandemic, deepening geo-economic fragmentation, surging inflation, and widespread monetary policy tightening, the global economy in 2024 seems to be trending toward a ‘soft landing’. According to the International Monetary Fund’s (IMF) latest projections, growth for 2024 will hold steady around 3.2 percent owing to markets rebounding as central banks exit constrained monetary policy; easing financial conditions; equity valuations rising; capital flows to most emerging market economies (excluding China) being buoyant, and some low-income countries and frontier economies regaining market access.

With economic buoyancy expected to continue in 2024, growth in Advanced Economies is forecasted to be muted at 1.7 percent in 2024, the same growth rate estimated for 2023. Returning to pre-pandemic levels, this level of growth is expected to be sustained mainly by growth in the United States (US) coupled with stronger consumption due to rising real wages and higher investment from easing financial conditions in the Euro Area. In the Latin America and the Caribbean region, economic growth is projected to decrease to 1.9 percent in 2024 from an estimated 2.3 percent in 2023 driven by weakening global economic activity, elevated debt levels and erratic weather occurrences. A subdued external environment together with rising protectionism and policy uncertainty is expected to contribute to decelerating growth in Emerging and Developing Asia from an estimated 5.7 percent in 2023 to 5.4 percent in 2024.

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State Enterprises Investment Programme 2025 (Mobile Version)

Ministry of Finance — Tue, 08 Oct 2024 15:31:21 +0000

Performance under Trinidad’s State Enterprises Investment Programme has remained fairly steady over the years against the ebbs and flows of the international economic landscape.

Total investment in fixed capital by the State Enterprises sector for 2024 is projected to be just over
$4,200 million. Of that sum, approximately 80 percent is expected to be incurred between the period April to September 2024, albeit the tendency for optimism in projections for this period. Driving the total projection for 2024 is expenditure in the Energy sector, in the vicinity of $1,600 million. Heritage Petroleum Company Limited takes the credit for accounting for the largest share of that sum, amounting to some $1,153 million from retained earnings, mainly on land and drilling projects. At a distant second in the Energy sector The National Gas Company of Trinidad and Tobago Limited, projects expenditure of almost $234 million from retained earnings by the end of fiscal year 2024, 45 percent of which will be concentrated on the Beachfield Manatee Upgrade.

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State Enterprises Investment Programme 2025

Ministry of Finance — Mon, 30 Sep 2024 13:43:58 +0000

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Social Sector Investment Programme 2024 (Mobile Version)

Ministry of Finance — Tue, 06 Feb 2024 12:59:08 +0000

The Government of the Republic of Trinidad and Tobago (GoRTT) Social Sector Investment Programme (SSIP), continues to be of paramount importance in meeting the social protection needs of the vulnerable population. Consequently, the SSIP works to transform Government’s vision for the sustainable development of the society into tangible programmes and projects. These projects and programmes are designed to realize the goals set out in Government’s overarching national planning framework namely the National Development Strategy 2016-2030 (Vision 2030). During fiscals 2019-2023, Government allocated $100 billion1 to key social sector Ministries and social divisions of the Tobago House of Assembly (THA), demonstrating its ongoing obligations to social protection.

Moreover, the SSIP  2024 examines the social economic climate of Trinidad and Tobago, and the developments made toward attaining social transformation. It also provides an overview of the national social context by analysing existing and new social sector initiatives, as well as investments made by the key social sector Ministries, and the Tobago House of Assembly (THA) toward social development, during the 2023 fiscal year.

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Review of the Economy 2023 (Mobile Version)

Ministry of Finance — Tue, 06 Feb 2024 12:55:07 +0000

According to the Ministry of Finance’s estimates, the Trinidad and Tobago economy is expected to register Real GDP growth of 2.7 percent in 2023, following more moderate growth of 1.5 percent in 2022. The expected outturn for 2023 is premised on an expansion in the Non-Energy Sector, partially counteracted by a marginal decline in the Energy Sector. Based on actual data from the Central Statistical Office (CSO) for the first quarter of 2023, real economic activity expanded by 3.0 percent, buttressed by marginal growth of 0.3 percent in the Energy Sector and a sharper 4.2 percent expansion in the Non-Energy Sector.

Building upon the economic expansions recorded in the Non-Energy sector during calendar 2022, year-on-year improvements were registered by twelve (12) Non-Energy industries, during the first three months of calendar 2023. Most notable was Trade and Repairs, which retained its position as the largest contributor to GDP, and grew robustly by 10.9 percent during this period. The Non-Energy Manufacturing sector also registered a strong performance driven by expansions in real economic activity within the Food, Beverages and Tobacco Products (7.6 percent); and Textiles, Clothing, Leather, Wood, Paper and Printing (31.5 percent) sub-industries. Significant growth was also reported by the Accommodation and Food Services (17.5 percent), and Transport and Storage (16.7 percent) sectors.

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State Enterprise Investment Programme 2024 (Mobile Version)

Ministry of Finance — Wed, 11 Oct 2023 18:33:29 +0000

The State Enterprises Sector comprises 52 companies of which 40 are wholly owned, eight are majority owned and four of which the Government of the Republic of Trinidad and Tobago (GORTT) has a minority shareholding. A complete list of the State Enterprises is at Appendix I.

These entities operate in the energy and energy based, financial services, manufacturing and agro-based, services and transport and communication industries.

In 2022, GORTT’s equity holding in the State Enterprises Sector totaled $15,598.11 million with a Return on Capital Employed (ROCE) of 13.0 percent.

The overall performance of the State Enterprises Sector in 2022 was positive. Profit After Tax increased by 48 percent, from $3,867.1 million in 2021 to $5,735.4 million in 2022. Despite losses in the Transport and Communication sector, the Energy and Energy Based sector and Financial Services sector continued their improved performance, both recording increases in profits in 2022. There were recoveries in the Manufacturing and Agro-Based and Services sectors, which both realized profits in 2022 following losses in 2021. Table 1 and Figure 1 refer

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