Ex-Central Bank deputy governor: There will be pain in budget 2021

Minutes before Finance Minister Colm Imbert presented the 2021 budget for Trinidad and Tobago, economist and former deputy governor of the Central Bank Dr Terrence Farrell has warned the population to expect pain.

"There will be pain. Pain will come."

Farrell was speaking in an interview with televsion station CNC3.

Asked what the population can expect in the context of low revenue, among other issues, Farrell said pain could not be avoided.

Citing the neighbouring island of Barbados, where its Prime Minister Mia Mottley took over during a financially difficult time for that country, and cut the public service by 3,000 people, Farrell said the TT Government had been avoiding painful measures for about six years.