The key points are temporarily unavailable. You can still read the full Story below.
Main Points
Opposition Leader Pennelope Beckles-Robinson has declared that Trinidad and Tobago is experiencing a recession, pointing to declining economic activity and the Government's own economic projections. Speaking during the 2027 Budget debate, Beckles cited figures from the Review of the Economy 2026 showing that real gross domestic product declined by 0.5 per cent in 2025. She further highlighted a forecast contraction of 2.2 per cent for 2026. Beckles contrasted those figures with earlier International Monetary Fund projections that had anticipated continued economic growth. She also referenced declines in construction, trade, manufacturing and energy production as evidence of worsening conditions across several sectors. According to the Opposition Leader, the downturn has been compounded by government policies affecting business confidence, employment and consumer spending. She criticised Finance Minister Davendranath Tancoo for what she described as a failure to adequately explain the country's economic performance during his budget presentation. Although the projected contraction was cited from the Government's economic review, the recession declaration represents Beckles' interpretation of the available indicators. A forecast decline in annual GDP is not identical to a final determination of a recession. Beckles nevertheless maintained that ordinary citizens were already experiencing the effects through reduced spending power, fewer employment opportunities and declining business activity.
Opposition Leader Pennelope Beckles-Robinson has declared that Trinidad and Tobago is experiencing a recession, pointing to declining economic activity and the Government’s own economic projections.
Speaking during the 2027 Budget debate, Beckles cited figures from the Review of the Economy 2026 showing that real gross domestic product declined by 0.5 per cent in 2025.
She further highlighted a forecast contraction of 2.2 per cent for 2026.
Beckles contrasted those figures with earlier International Monetary Fund projections that had anticipated continued economic growth.
She also referenced declines in construction, trade, manufacturing and energy production as evidence of worsening conditions across several sectors.
According to the Opposition Leader, the downturn has been compounded by government policies affecting business confidence, employment and consumer spending.
She criticised Finance Minister Davendranath Tancoo for what she described as a failure to adequately explain the country’s economic performance during his budget presentation.
Although the projected contraction was cited from the Government’s economic review, the recession declaration represents Beckles’ interpretation of the available indicators.
A forecast decline in annual GDP is not identical to a final determination of a recession.
Beckles nevertheless maintained that ordinary citizens were already experiencing the effects through reduced spending power, fewer employment opportunities and declining business activity.
News Desk is the editorial publishing account for Tringlobe Media News, covering breaking news, public affairs, entertainment, community developments and regional stories across Trinidad and Tobago, the Caribbean and internationally.
