THA Chief: Tobago in a good position

TOBAGO House of Assembly (THA) Chief Secretary Kelvin Charles says Tobago has received a net increase in the aggregate allocation in yesterday’s budget and the island was in a good position. “To summarise the budget...we consider it very practical, pragmatic but at the same time very forward looking.”

Finance Minister Colm Imbert said the budgetary allocation to the THA is $2.229 billion, of which, $1.979 billion would be for recurrent expenditure, $231.63 million for capital expenditure and $18.0 million for the Unemployment Relief Programme. The allocation 4.30 percent of the national budget.

“As we monitor the fiscal out turn in the coming year, further consideration will be given to additional allocations for Tobago at the time of the mid-year review, in or around April 2019, as we did in 2018.”

He also said the ministry has agreed to approve loan financing by the THA for its development projects in an amount of up to an additional $300 million in 2019 and another $1.055 billion is allocated for expenditure in Tobago by various government ministries and statutory authorities.

Charles in response said Imbert reiterated the THA would be allowed to borrow and the suggested $300 million in this fiscal year would be appropriate. “We are in a good position.”

He said he understood the context in which Imbert had to present the budget and his striving to match economic realities while reflecting hope and positivity to the people of TT.

“And we think he would have achieved that by reference to a number of the proposals in his budget where he sought to provide relief to the vulnerable in society. “In Tobago, contrary to the view of some, the economy has not been devastated.”