NACTA: People approve additional expenditure

THE majority of citizens welcome the approval of an additional $3.2 billion in expenditure with the passage of the Finance (Supplementary Appropriation) (Financial Year 2025) Bill, 2025, in the House of Representatives on June 18.

This bill, commonly referred to as the Mid-Year Review of the Economy, will be debated in the Senate on June 23 from 10 am.

There is also a call from the population to government to move expeditiously to implement measures to stimulate economic growth.

These are some findings contained in a North American Caribbean Teachers Association (NACTA) poll that was conducted after the House approved the Finance (Supplementary Appropriation) (Financial Year 2025) Bill, 2025.

NACTA said its poll found the majority of its respondents are pleased that Prime Minister Kamla Persad-Bissessar has moved quickly to address economic matters since being elected to office on April 28.

In this regard, NACTA continued, respondents welcomed the additional $3.2 billion in expenditure in areas such as education and national security

But, NACTA cautioned Persad-Bissessar and her administration "will not get a long honeymoon for people would expect quick change in their lives."

NACTA said the poll found many respondents to be uncertain about the state of the economy and matters such as the availability of foreign exchange (forex).

One of the things Persad-Bissessar promised shortly after assuming office was a report on forex usage and availability.

She said Finance Minister Davendranath Tancoo, Planning Minister Kennedy Swaratsingh and Trade, Investments and Tourism Minister Kama Maharaj would handle that assignment.

Before the election, then prime minister Stuart Young held discussions with the Central Bank, Bankers Association and heads of commercial banks about forex.

NACTA said much of the UNC's electoral success was attributed to the belief voters had in the party's promises to revive an ailing economy.

"She needs to deliver soon on promises because patience last only a few months. The government has already completed a month and half in office."

NACTA said the poll's respondents want to see tangible measures to turn around the stagnancy the economy was experiencing before April 28.

While some respondents believe the Mid-Year Review came a bit late, NACTA continued, most respondents believed Tancoo did well to point out there are difficult times ahead, shortfalls in energy revenues and projected budget deficits.

In his presentation in the House on June 18, Tancoo said Trinidad and Tobago could be facing a projected deficit of $9 billion in the current fiscal year.

NACTA said the respondents to its poll came from various segments and classes of the population, supporters of all political parties and labour unions.