MINISTER of Finance Colm Imbert is positive about the recent IMF 2024 Article IV Mission to Trinidad and Tobago.
The IMF predicts a good outlook for the country in the medium term, he stated in a media release by the Ministry of Finance on Monday.
The IMF team visited from February 28 to March 8, 2024, meeting with various stakeholders and studying detailed economic data.
Based on these consultations, the IMF believes that Trinidad and Tobago’s economic outlook is gaining momentum. It mentions a gradual and sustained recovery happening for the first time in a decade, the release stated.
It stated, “The IMF has also concluded that ‘the 2024 Budget Envelope is appropriate to support
the domestic recovery and address infrastructure needs’.”
Looking forward, the IMF sees a positive balance of risk in the medium term, the release stated.
According to the ministry, this stems from new gas projects and planned structural reforms that could boost growth. In simpler terms, there’s a good chance our economy will keep getting better with sustained growth.
The release noted that the IMF stated that the importance of continuing to broaden economic growth through diversification, which is already happening and also stress the need for a more predictable fiscal policy through energy price cycles to keep public debt at moderate levels and save for the future.
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