Trinidad and Tobago’s economy is now more stable and showing signs of progress.
Minister of Planning, Economic Affairs and Development, Dr. Kennedy Swaratsingh, says increased investor interest and a positive outlook for job creation are among the indicators that the economy is moving in the right direction.
The country’s economic performance over the past year is expected to be a key focus of the 2026/2027 National Budget, with Government pointing to several indicators it says reflect growing stability and confidence in the economy.
Minister of Planning, Economic Affairs and Development, Dr. Kennedy Swaratsingh, says T&T’s economic position has improved significantly since the new administration took office.
“The economy is significantly much more stable, heading in the right direction and I think one of the most fundamental things we have to focus on after the next budget is implementation. We really have to get some of the things. Because one of the problems that we are going to have is that the economic structures and global geopolitics is moving at a fast pace and there are lots of opportunities available to us now.”
Dr. Swaratsingh said growing interest from foreign investors and increased expansion by local businesses are among the signs that confidence in the economy is returning.
“You would see more investments coming into the country, it started with iron and steel and others will start to unfold. That is due to the hard work that the prime minister and my colleague the Minister of Foreign and CARICOM Affairs. Thirdly, just to link back to your last interview with the Minister of Homeland Security, reduction in murders also significantly impact on the confidence of the economy, so if we could reduce the murder rate by another 20%, and decrease crime overall, those things also have positive impacts on people wanting to come and invest in Trinidad and Tobago.”
Turning to the labour market, the Minister said Government remains focused on filling vacancies across the public service.
However, he notes that long-term growth requires the creation of economic activity beyond the public sector.
“We have identified vacancies across the public service that a lot of ministers are focused on trying to fill. There are lots of positions that already have been filled in Local Government, in Works and Infrastructure but the issue that we have is to be able to generate economic activity outside of government and to ensure that we support the development of other sectors.”
Minister Swaratsingh said T&T can no longer depend solely on the hydrocarbon sector to drive economic growth and must continue efforts to diversify the economy.