Budget 2024 – Ministry of Finance

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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Budget Statement 2024 – Building Capacity for Diversification and Growth (Mobile Version)

Ministry of Finance — Tue, 10 Oct 2023 18:20:55 +0000

National Budget Statement 2024 presented by the Honourable Colm Imbert, MP, Minister of Finance in the House of Representatives on Monday 2nd October, 2023.

Madam Speaker, I wish to present to this Honourable House the Budget Statement for the financial year 2024. However, it is only fitting that before starting I thank Dr. the Honourable Keith Rowley, our Prime Minister and Leader of this PNM Administration, for his support and understanding over these past 8 years.

Indeed, I have had the pleasure and privilege to manage the fiscal affairs of this country as Minister of Finance since this Administration assumed Office in September 2015.

Madam Speaker, it needs to be repeated that eight (8) years ago, in 2015, when we were elected to Government, our economy was confronted with exceptional and challenging difficulties because of a collapse of oil and gas prices that started in 2014, coupled with declining oil and gas production and an unhelpful petroleum tax regime. Our detractors do not wish to acknowledge these truths and would prefer that we pretend it was not so, but this is the stark reality we faced.

Click to view the Mobile Version of the Budget 2024 presentation

Budget Statement 2024 – Building Capacity for Diversification and Growth

Ministry of Finance — Mon, 02 Oct 2023 21:04:11 +0000

National Budget Statement 2024 presented by the Honourable Colm Imbert, MP, Minister of Finance in the House of Representatives on Monday 2nd October, 2023.

Madam Speaker, I wish to present to this Honourable House the Budget Statement for the financial year 2024. However, it is only fitting that before starting I thank Dr. the Honourable Keith Rowley, our Prime Minister and Leader of this PNM Administration, for his support and understanding over these past 8 years.

Indeed, I have had the pleasure and privilege to manage the fiscal affairs of this country as Minister of Finance since this Administration assumed Office in September 2015.

Madam Speaker, it needs to be repeated that eight (8) years ago, in 2015, when we were elected to Government, our economy was confronted with exceptional and challenging difficulties because of a collapse of oil and gas prices that started in 2014, coupled with declining oil and gas production and an unhelpful petroleum tax regime. Our detractors do not wish to acknowledge these truths and would prefer that we pretend it was not so, but this is the stark reality we faced.

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