The Trinidad and Tobago Manufacturers’ Association has welcomed the completion of the International Monetary Fund 2026 Article IV Consultation on Trinidad and Tobago, describing the report as an important independent assessment of the country’s economic performance and long-term outlook.
In a statement issued on May 21st, the TTMA said the annual IMF consultation provides valuable external oversight of the nation’s fiscal policies, financial stability, and macroeconomic direction, while also identifying potential risks and areas requiring reform.
According to the Association, the IMF projects Trinidad and Tobago’s economy to grow by approximately 0.8 per cent in 2026, with stronger medium-term growth expected to come from new energy projects and continued expansion in the non-energy sector. The report also pointed to low inflation, stable credit growth, a strong banking sector, and healthy foreign reserves supported by the Heritage and Stabilisation Fund.
The TTMA highlighted what it described as a significant acknowledgement by the IMF of the contribution of the non-energy sector, particularly manufacturing, to the country’s recovery to pre-crisis economic levels. The Association said the recognition underscores the importance of local manufacturers and wider diversification efforts in sustaining economic growth.
The organization also noted that its own initiatives, including advocacy efforts, trade missions, and the annual Trade and Investment Convention, continue to support the expansion and competitiveness of the non-energy manufacturing sector.
Despite the positive indicators, the TTMA acknowledged that several economic challenges remain, including fiscal deficits, tax revenue gaps, and employment difficulties. The Association argued that addressing these vulnerabilities through structural reform will be critical to securing long-term economic resilience and competitiveness.
The IMF report also recommended measures such as closing tax gaps, reducing non-priority transfers, adopting a medium-term fiscal framework, improving the foreign exchange market, and implementing broader structural adjustments.
TTMA’s President said identifying economic challenges and implementing reforms would help accelerate diversification and place Trinidad and Tobago on a more sustainable path of growth and prosperity. The Association reaffirmed its commitment to supporting policies aimed at strengthening the non-energy sector