AGP Executive Report
Last update: 3 hours agoEconomic Outlook: Economists are divided on whether Trinidad and Tobago is in a technical recession or a deeper slump, amid figures showing a 0.5% contraction in 2025 and a projected 2.2% decline in 2026. Former finance minister Colm Imbert warns of a sharper downturn, citing falling output across energy, construction and trade. Budget 2027: The Government projects $59.7 billion in revenue against $63.4 billion in spending, leaving a $3.6 billion deficit; the outlook depends partly on assumed oil prices of US$77 a barrel and gas at US$5 per unit. State Assets: The Government plans to sell the Hilton, Magdalena Grand, National Quarries and LABIDCO. The two hotels reportedly recorded $246 million in losses over 10 years, while workers and La Brea residents worry about jobs and the sale terms. Banking: Richard Sammy has exited Republic Financial Holdings; Karen Yip Chuck is slated to take over as group CEO on January 1, subject to regulatory approval. Energy: The Government says it cannot locate an executed English version of the Dragon gas project’s metering agreement, raising questions about the contract. Separately, OWTU’s Ancel Roget says Patriotic will be involved in any refinery reopening arrangement, with an announcement expected soon.
Note: AI summary from news headlines; neutral sources weighted more to help reduce bias in the result. Feedback is welcome. Please let us know if you have any comments or suggestions about the AGP Executive Report.
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