Trinidad and Tobago’s Carnival season is expected to generate a significant economic boost, according to Minister of Finance Davendranath Tancoo, who welcomed both returning nationals and first-time visitors to what he called “the greatest party in the world.”
The Minister indicated that the UNC administration plans to renew investment in the nation’s cultural celebrations following the recent lifting of the State of Emergency. With crime levels well below last year’s figures and strong public response to the Government’s Economic Revitalisation Plan, Minister Tancoo said the country is experiencing “confident exuberance.”
The Finance Minister emphasized Carnival’s economic multiplier effect. “As citizens and visitors alike participate in the Carnival activities, they should be aware that every dollar spent is trickling through the economy providing jobs, providing incomes, providing opportunities for those who need it most,” Tancoo stated.
The Minister’s optimistic outlook aligns with a positive economic assessment from the International Monetary Fund released earlier this week. The IMF noted early signs of economic recovery in Trinidad and Tobago, citing stability, low inflation, and renewed investor interest as the country nears completion of its 2026 Article IV review.
According to IMF data, Trinidad and Tobago’s economic growth rate was 1.4% in 2023, with forecasts projecting growth of 2.4% for 2025. The Article IV Consultation represents the IMF’s standard periodic review of member countries’ economic and financial health.
Tancoo commended Carnival stakeholders in both public and private sectors for their contributions, noting that events require the efforts of costume designers, soca performers, audio technicians, decorators, construction workers, taxi drivers, and many others.
“With the influx of visitors, there is an inflow of US dollars and demand for all manner of goods and services,” the Minister said, adding that this creates “much-needed local economic activity” crucial for seasonal employment.
The Finance Minister expressed optimism for the coming days, stating: “We expect even bigger and better things over the next few days culminating with J’ouvert morning and Carnival Monday and Tuesday when everyone gets to experience one of the greatest experiences anyone can have. Hats off to you.”