PM: Early October Reading For Budget, Deficit Anticipated
Prime Minister Kamla Persad-Bissessar is expecting that there will be a deficit in the 2025/2026 Budget.
The Prime Minister spoke to reporters outside Parliament on Friday.
« I do not believe that we will have a balanced budget, because we’ve inherited some really bad treasury stocks. We’ve inherited a lot of borrowings as well. I don’t think we can have a balanced budget, so we may have expenditure outpacing revenues. So we will have to find creative ways to supplement this revenue — so, in other words, there will be a deficit, and we will have to find ways to finance that deficit. »
Mrs. Persad-Bissessar assured that the Budget will be read in early October. However, a fixed date has not yet been determined. The Prime Minister said the Government will explore solutions to tackle the budget deficit.
« I’ve been in this Parliament long enough, many of you have been around. There are creative ways of financing deficits, and we will utilise the tools that are available in terms of financing the deficits that we expect we will find. »
