The Minister of Finance, Colm Imbert, says he is encouraged and heartened by the Staff Concluding Statement of the recent IMF 2024 Article IV Mission to this country.
The visit to T&T took place between February 28 and March 8, during which time the IMF Mission met with stakeholders, government departments, private sector organisations and state institutions and comprehensively analysed detailed economic data on T&T.
The IMF underscored that T&T’s economic outlook “is gaining momentum,” and “for the first time in a decade” our economy is ”undergoing a gradual and sustained recovery.”
The IMF has also concluded that “the 2024 Budget Envelope is appropriate to support the domestic recovery and address infrastructure needs”
The IMF believes that “In the medium term, the balance of risk is to the upside, stemming from additional new gas projects and the implementation of planned structural reform, which could boost growth.”
A statement from the Ministry of Finance on Monday said, “This has only occurred because the Ministry of Finance and the Government have exercised fiscal discipline over the last eight years, thus creating the conditions for sustained growth. As a result, we can now confidently turn to future structural challenges such as climate and energy transition and the adaptation to fast-changing international requirements such as tax transparency and global carbon taxation.”