Trinidad Recession Denied by Prime Minister
The Trinidad recession dispute reached Parliament, where the prime minister cited IMF growth forecasts and defended plans to sell state-owned hotels. The post Trinidad Recession Denied by Prime Minister appeared first on The Rio Times .
Trinidad Prime Minister Kamla Persad-Bissessar denied claims of a recession during a debate on the 2027 national budget on Monday 19 October 2026. She insisted the country "is in progression" and cited International Monetary Fund growth forecasts. The IMF expects Trinidad's energy output to decrease by 4.5% in 2026, requiring other sectors to compensate for the decline.
Persad-Bissessar defended the sale of the Trinidad Hilton hotel and Tobago beach resort to private investors, dismissing the People's National Movement's claim that the economy is shrinking. The PNM, now the Opposition, led by Pennelope Beckles, points to a Finance Ministry review claiming a 2.2% fall in output this year. Adjusted government debt rose from TT$75.38 billion in fiscal 2015 to TT$140.58 billion in fiscal 2024, an increase of 86.5%, according to Persad-Bissessar.
She stated that her administration has already borrowed over TT$21 billion to refinance inherited debt and that an additional TT$70 billion falls due over the next five years. The Opposition accuses the government of conducting a "fire sale" of state assets.
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