An overall passing grade has been given for the Government of Trinidad and Tobago’s first 100 days since attaining power.
The government is also being hailed for its decision to split the Ministry of National Security into two stand-alone Ministries – the Ministry of Defence and the Ministry of Homeland Security.
Executive Advisor Mwale Henry sees this as strategic and decisive.
“The administration can be applauded in where the strategy is, one, dividing the Ministry of National Security and the Ministry of Defence, Ministry of Homeland Security for that type of focused effort both at home and at sea. So it’s yet to see the benefits that will take place. We all know across the Caribbean region, once a State of Emergency is implemented, you will see an automatic reduction in crime. So as a society, we can have safety in an interim measure. We want to be able to see a bolstering of our national security apparatus.”
Where the energy sector is concerned, Mr. Henry believes that the government’s defence of Guyana, as it relates to the conflict between the South American country and Venezuela, is also a strategic move which can potentially see Trinidad and Tobago benefiting from that country’s oil boom.
He also believes the policy shifts made on taxes will bear fruit.
“Ending the Revenue Authority, withdrawing the Property Tax bill so these things would have short, exact influence on persons who would have had that bill to pay for in terms of our disposable income. So from that perspective, promise made, promise kept. But in terms of the macro and structural issues, that still remains and that can only be solved with a new budget where this administration will be able to state what are their fiscal priorities, what they will focus on, and how they will transition the economy from a place of stagnation or cash crunch into some form of revenue generation.”
Where the economy is concerned, he added that all eyes are on how the government transitions the economy out of stagnation and into revenue earning.
“The economy remains the same. We’re talking about in 2025, there is an estimated look at around $6 billion in deficits. So the GDP has fallen by 2.9%. So the overall deficit, this administration would have inherited from, I think, our first quarter around $4 billion. So the conditions in itself is quite cash crunch. And we are seeing that this administration is having that type of challenge, how they manage in terms of paying salaries on time and being able to pay bills, transition, new Ministries, et cetera.”
Mr. Henry said the new fiscal priorities outlined when the budget is presented will dictate the economic focus for the government.