Finance Minister Davendranath Tancoo says economic diversification remains a major priority in the 2027 Budget, with the Government targeting growth in tourism, agriculture, manufacturing and exports.
Minister Tancoo said the Government’s fiscal projections are designed to place the economy on a stronger footing over the coming year.
“We have several new initiatives that we have announced. We have $2.4 billion put aside for workers. We are paying higher salaries and higher wages to NUGFW workers, to tutors, to public servants, etc. So, despite all of those additional incentives, we now have a deficit projected at $3.64 billion. I think that that deficit is a workable deficit. I think we expect substantial benefits to come from the energy sector. When that comes, it will reduce the deficit.”