Trinidad News, Tobago News

Welcome to Breaking News Trinidad and Tobago
Thursday, October 19 2017 @ 09:26 PM AST

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Gas gone up with immediate effect - All cos. must now pay 30% tax, banks 35%

Super from $3.58 per litre to $3.97 per litre

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Trinidad & Tobago presents $50.5 billion budget for fiscal 2018

Deficit for fiscal 2018: $4.76 billion or 3.1% of GDP vs $12.6 billion or 8.4% of GDP last fiscal year

Revenue: $45.741 billion of which $6.12 billion expected from oil and gas sector

Expenditure: $50.5 billion, same as ACTUAL expenditure last fiscal year

Govt to borrow $4.5 billion from local market to finance deficit; Additional deficit will be financed from sale of assets programme and withdrawals from HSF to generate $7.5b or 4.4% of GDP

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Trinidad & Tobago to let US dollar price fluctuate more, but still intervene

FROM TRINIDAD AND TOBAGO FINANCE MINISTER COLM IMBERT READS THE NATIONAL BUDGET FOR FISCAL 2017/2018 IN PARLIAMENT IN PORT OF SPAIN TODAY:

* Trinidad & Tobago government to sell CL Financial debt: "Total expended by govts to CL Financial - $23.1 billion. Debt recovery to be divested on stock exchange or in new national mutual fund" - Government Information Services Ltd (GISL)

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Oil price is actually where it was when T&T last had a surplus


Source: Ministry of Finance of Trinidad and Tobago

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Trinidad and Tobago's credit rating history

Trinidad and Tobago's credit rating history

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Never before has a Govt withdrawn from the country's savings, this one did twice and threatens to again


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Trinidad & Tobago now has to pay $1 billion more in interest thanks to all the borrowing


Source: Finance Ministry




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Capital expenditure (the one area that could lead to dividends) falling, while recurrent bill paying rising


SOURCE: Ministry of Finance
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'Taxing people more' not working, to continue would be just wickedness


SOURCE: Ministry of Finance
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Who's gonna rock you through the dark side of the morning? It ain't oil and gas

Taken from a Trinidad & Tobago Ministry of Finance presentation during a pre-budget forum on September 27: