MEDIA RELEASE
15/06/2026
AMCHAM T&T welcomes the Government's Mid-Year Review and Supplementary Appropriation presentation and notes several encouraging developments that align with priorities long advocated by the business community.
In particular, we acknowledge the Government's continued focus on digital transformation, the modernisation of the Inland Revenue and Customs and Excise Divisions, strengthening institutional capacity, enhancing energy sector competitiveness, and improving public service delivery. These initiatives have the potential to improve the ease of doing business, strengthen investor confidence, and support long-term economic growth.
At the same time, AMCHAM T&T notes that the proposed supplementary appropriation of approximately TT$2.9 billion is largely concentrated in recurrent expenditure. While some of these allocations address legitimate obligations, including outstanding liabilities, public services, and social support programmes, increasing recurrent spending of this nature does not, on its own, contribute to economic growth. Sustained growth will ultimately depend on increasing productivity, strengthening competitiveness, and expanding investment in development projects that generate long-term economic returns.
As the country continues to navigate fiscal challenges, we encourage ongoing attention to fiscal sustainability, expenditure efficiency, and transparent reporting on outcomes associated with supplementary funding. Businesses and citizens alike benefit when public expenditure is linked to measurable performance indicators and clearly defined economic and social outcomes.
We note progress being made on reducing expenditure on debt servicing. This is indeed welcome, as overall national debt and debt-servicing requirements remain a significant constraint on fiscal space and the ability to direct expenditure toward productive activities. We encourage the Government to continue the work that has been done over the past year on further fiscal consolidation.
AMCHAM T&T is also particularly interested in continued progress on:
• Modernisation of Customs and Inland Revenue systems;
• Improvements in foreign exchange accessibility and allocation mechanisms;
• Timely settlement of VAT refunds and Government payments to suppliers;
• Acceleration of digital government services;
• Regulatory reform and reduction of administrative bottlenecks;
• Infrastructure resilience and flood mitigation;
• Energy sector development and economic diversification.
AMCHAM T&T believes that sustainable national development requires strong collaboration between Government, the private sector, labour, and civil society. We therefore welcome continued engagement with stakeholders as reforms are implemented and as preparations begin for the 2027 fiscal framework.
AMCHAM T&T remains committed to working with Government and all stakeholders to advance policies that improve competitiveness, strengthen investor confidence, create jobs, and support sustainable economic growth for Trinidad and Tobago.
END.
For further questions or comments please contact: Nirad Tewarie, CEO AMCHAM T&T at niradtewarie@amchamtt.com.