See 2025 and 2026 Budgets' Allocation Comparisons

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Caption: Government MPs during the opening prayer of the sitting on Monday. Photo: T&T Parliament

By Alicia Chamely

EDUCATION is set to get the largest slice of the 2025/2026 National Budget, with Health receiving the second largest allocation.

Education and Training will receive an allocation of $8.766 billion. Representing a $1.254 billion increase from the $7.512 billion allocation in the 2025 National Budget

Health will receive an allocation of $8.214 billion, an increase of $643 million from the $7.571 billion allocated in 2025.

Allocations for National Security were also increased for the 2026 Budget, with an allocation of $ 6.366 billion, as compared to $6.133 billion in 2025.

The total expenditure of the 2026 Budget is $ 59.232 billion, against total revenue of $55.367 billion, creating a deficit of $3.865 billion.

These figures were announced by Finance Minister Davendranath Tancoo during his inaugural budget presentation titled T&T First: Building Economic Fairness through Accountable Fiscal Policies on Monday at the Red House, Port of Spain.

Tancoo, before breaking down ministerial allocations, explained the Budget hinged on the fluctuating energy sector. He noted this dependence on energy was recognised and the government was working to expand revenue sources.

He said, “We recognise the risks of over-reliance on the energy sector, and we are taking steps toward broader economic reform.”

Tancoo broke down the current energy prices, saying, “Consequently, our oil price assumption for 2026 will be US$73.25 per barrel, compared with US$77.80 per barrel in 2025; and our natural gas price assumption will be US$4.25 per MMBtu, compared with US$3.59 per MMBtu in 2025.”

He said, therefore, the government expects a total revenue of $ 55.367 billion against a total expenditure of $ 59.232 billion.

Tancoo said therefore the Budget would be running on a $ 3.865 billion fiscal deficit.

He noted, “Mr Speaker, you should note that the fiscal deficit at $3.865 billion is 2.17 per cent of GDP, again within the international benchmark of three per cent.”

Breaking down projected revenue, he said $ 11.254 billion would come from Oil and Gas, Non-Oil Revenue was $ 43.402 billion, and Capital revenue was $ 0.711 billion.

Tancoo said, pursuant to the government’s Public Policy Agenda, the central fiscal allocations for 2026 were: