The Tobago Business Chamber is pleased with Tobago’s budget allocation.
On Monday, Minister of Finance, Davendranath Tancoo, allocated a total of $3.724 billion, or 6.3% of the National Budget, to Tobago.
Chairman, Martin George, said the Budget reflected a positive relationship between the Central Government and the Tobago House of Assembly.
“The Government does seem to be giving a facilitative and supportive hand to Tobago in terms of its tourism thrust and development, and in terms of its macroeconomic outlook, and we think that in those circumstances, once there is proper delivery by those in charge of the THA, and proper management and harnessing of our fiscal resources, our human resources, our human capital, and the abilities of the people of Tobago, there is a chance that the economy of Tobago can see an improvement.”
However, Mr. George reiterated there is now a need for effective management of the funds received.
“The question really and truly is: how does the THA manage these monies going forward for the best use and best development of Tobago? The Minister of Finance did indicate that there would be emphasis on trying to open the new ANR International Airport in 2026. He did give support in relation to the two hotel projects that are on the table — that would be the Elephant Tree project and the Marriott project.”