Minister of Planning, Economic Affairs and Development, Dr Kennedy Swaratsingh, has rejected claims by the Opposition Leader that Trinidad and Tobago is in a recession, describing the comments as “ludicrous,” “irresponsible” and disappointing.
The Opposition Leader’s response to the 2027 Budget has come under heavy fire from Government, particularly her claim that Trinidad and Tobago is in a recession.
Speaking on TTT’s Focus morning programme, Minister of Planning, Economic Affairs and Development, Dr Kennedy Swaratsingh described her budget contribution as disingenuous.
“Well first of all its a very ludicrous statement and its a very irresponsible statement to make. She also said for example the Government has completed two budgeting cycles. As you would know and the population would know that is a half truth at best because we came into government in May 2025, that is substantially inside the budgeting cycle they would have read in 2024”
Minister Swaratsingh also sought to set the record straight on the issue of economic growth.
“The IDB and World Bank would have projected for Latin America and the Caribbean a 2.4% growth. We would have probably had 0.8 to 0.9% growth, and recession is defined as consistent with a period of negative growth.”
Meanwhile, Minister Swaratsingh, who is also the Minister in the Ministry of Finance, reminded citizens about the economic conditions which the current Government inherited upon taking office.
“The economy, when we inherited it in May of 2025 required a rescue operation that if left unchecked. I mean she talked about NIB, when we came in, there was an actuarial report sitting in the Minister of Finance’s office, since 2019 that if it was not addressed the fund would have gone defunct by 2031/32.”
The Minister said political leaders should act responsibly in their public statements, warning that rhetoric could undermine investor confidence in the country.