The FY2027 budget plans TT$63.37bn of spending against TT$59.73bn of revenue, cutting the deficit to 2.1% of GDP through measures such as capping loss relief and raising withholding taxes on non-residents. Recovering gas output and developing cross-border Venezuelan gas fields such as Dragon are the key economic variables.
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Government · leader
Prime Minister Kamla Persad-Bissessar (head of government, since May 2025)
Key national agenda
- Deficit reduction (TT$7bn revised FY2026 to TT$3.64bn in FY2027) and revenue measures
- Gas output recovery via new fields and upstream investment in 2026-27
- US general licences for cross-border Venezuelan gas (Feb 2026)
- Higher social grants for seniors and people with disabilities (TT$250/month)
- Tax administration digitisation including mandatory GENTAX e-filing
- More PPPs and state-funded housing
Government programmes
FY2027 national budgetTT$63.37bn
Revenue TT$59.73bn, spending TT$63.37bn, deficit TT$3.64bn (2.1% of GDP); oil US$77/bbl and gas US$5/MMBtu assumed
Public Sector Investment Programme 20272026: ~TT$5bn budgeted / ~TT$3bn spent
The 2026 PSIP spent about TT$3bn of roughly TT$5bn budgeted; the 2027 PSIP was released with the budget
National Water Sector Transformation Programme (IDB)US$80m first tranche (US$315m line)
First US$80m operation under a US$315m conditional credit line; network rehabilitation, loss reduction and digital management, executed by WASA
Cross-border Venezuelan gas (Dragon etc.)
Two US general licences announced Feb 2026; taxes/royalties owed to Venezuela must go to US-designated accounts. Dragon estimated at ~4 Tcf
New gas field developments 2026-27US$2bn+/year (projection)
Ginger, Mahogany A Extended, Juniper Phase II, Coconut, Aphrodite, Manatee Plus; upstream capex projected above US$2bn a year to 2029
Phased restart of the Guaracara (ex-Petrotrin) refinery
Phased restart mentioned in budget documents; cost not disclosed (single source)
Business opportunities
Leak detection and smart metering for the water network
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PMO consulting for public investment tracking
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Gas/petrochemical plant maintenance and equipment supply
New gas fields and the refinery restart may raise equipment demand (estimate).
NGC, Heritage Petroleum, private operators
Tax and customs e-administration solutions
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Korean support schemes
- Korean Embassy economic cooperation · Embassy of the Republic of Korea in Trinidad and Tobago — In June 2026 the ambassador met the Chamber of Commerce president to discuss trade and support for KOTRA's participation in the Trade and Investment Convention (July 2026).
- KOICA fellowship and development consulting programmes · KOICA — KOICA runs training and development consulting programmes; no Trinidad and Tobago-specific project was confirmed in this review.
Official notices
Ministry of Finance, Trinidad and Tobago
- 2026-10-30 Customs seizes cocaine at Piarco International Airport
- 2026-10-14 Guidance on what happens after the budget speech
- 2026-10-12 2027 Budget Statement, PSIP, Social Sector Investment Programme and Review of the Economy released
- 2026-07-22 S&P keeps investment-grade BBB- rating
Disaster · conflict · epidemic
Stable 2026-11-07
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Earth & space
Credit rating · FX
S&P BBB- (negative, affirmed Jul 2026) / Moody's Ba2 (stable, outlook raised Jun 2026) / Fitch unconfirmed · K-SURE Unconfirmed · TTD
Sanctions
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No country-level UN, US, EU, UK or Korean sanctions programme applies to Trinidad and Tobago; cross-border energy projects with Venezuela are subject to US Venezuela sanctions and licence terms.
Sources
- Caribbean National Weekly - T&T presents TT$63.3 billion budget
- EY - Trinidad and Tobago 2027 Budget Review
- Ministry of Finance - S&P reaffirms investment grade rating
- Ministry of Finance - Moody's upgrades outlook to stable
- Nation News - Trinidad gets licences from US for Venezuela oil and gas
- IDB - Trinidad and Tobago will upgrade water services
