Trinidad and Tobago: public finances

What is in the Trinidad and Tobago budget for 2027?

The 2027 budget presented by the Minister of Finance on 12 October 2026 plans total spending of TT$63.368 billion and revenue of TT$59.729 billion, a deficit of TT$3.639 billion or 2.1% of GDP, according to the Budget Statement 2027. It assumes an oil price of US$77.00 a barrel and a gas price of US$5.00 per MMBtu.

The largest allocations are health (TT$8.061 billion), education and training (TT$8.033 billion) and national security (TT$7.321 billion). Oil revenue is put at TT$14.355 billion and non-oil revenue at TT$45.062 billion. The fiscal year runs from October to September.

Official sources: Ministry of Finance: Budget Statement 2027 (PDF) · Ministry of Finance: Budget Statement 2027 page

What was Trinidad and Tobago's budget deficit in 2026?

The central government recorded an estimated overall deficit of TT$7,000.0 million in fiscal 2026, according to the Ministry of Finance's Review of the Economy 2026. Revenue and grants were revised to TT$54,247.1 million, including TT$17,103.5 million from the energy sector, and spending to TT$61,247.1 million.

The original budget for fiscal 2026 had projected a deficit of TT$3,864.7 million. At the mid-year review, spending was increased by TT$3,528.5 million and oil and gas price assumptions were raised to US$85.00 a barrel and US$4.50 per MMBtu.

Official sources: Ministry of Finance: Review of the Economy 2026 (PDF)

How much debt does Trinidad and Tobago have?

Adjusted general government debt in Trinidad and Tobago is estimated at TT$149,546.2 million at the end of fiscal 2026, 83.3% of GDP, down from 83.8% in fiscal 2025, according to the Ministry of Finance's Review of the Economy 2026. Including borrowing for open market operations, total general government debt is TT$151,773.9 million.

Of adjusted debt, 56.0% is central government domestic debt, 27.4% external debt and 16.6% government-guaranteed debt that is serviced by the government (non-self-serviced). The Heritage and Stabilisation Fund had a net asset value of US$6,450.4 million on 30 September 2026.

Official sources: Ministry of Finance: Review of the Economy 2026 (PDF)

What is Trinidad and Tobago's debt to GDP ratio?

The latest figure from the IMF, for 2025, is 84.0% of GDP. It is the top of the series, which starts in 2005. Latin America & Caribbean median: 65.6% of GDP; Trinidad and Tobago is 7th highest of 31. Worldwide: 39th of 185.

Does Trinidad and Tobago's government borrow more than it raises?

According to the IMF, general government net lending or borrowing in Trinidad and Tobago was -5.4% of GDP in 2025, a deficit. Its high point since 2005 was 2008, at 5.7% of GDP; its low point was 2020, at -11.8% of GDP. Across Latin America & Caribbean the middle value was -2.8% of GDP, and Trinidad and Tobago placed 25th highest of 32. Of 188 countries with 2025 data, 153rd highest.

What is Trinidad and Tobago's government revenue?

The latest figure from the IMF, for 2025, is 26.8% of GDP. Its high point since 2005 was 2006, at 34.3% of GDP; its low point was 2017, at 20.5% of GDP. It is 15th highest of 32 in Latin America & Caribbean, where the median is 24.9% of GDP. Of 187 countries with 2025 data, 97th highest.

What is Trinidad and Tobago's government spending?

According to the IMF, general government spending in Trinidad and Tobago was 32.3% of GDP in 2025. Since 2005 it has ranged from 26.8% of GDP (2007) to 35.1% of GDP (2020). It is 10th highest of 32 in Latin America & Caribbean, where the median is 26.7% of GDP. World rank, highest first: 83rd of 186.

What is Trinidad and Tobago's tax to GDP ratio?

In 2019, central government tax revenue in Trinidad and Tobago was 16.8% of GDP, according to the IMF. It is the bottom of the series, which starts in 2005. Across Latin America & Caribbean the middle value was 14.1% of GDP, and Trinidad and Tobago placed 6th highest of 18. World rank, highest first: 67th of 137.

What is Trinidad and Tobago's military budget as a share of GDP?

SIPRI puts military spending in Trinidad and Tobago at 0.9% of GDP in 2025. Its high point since 2005 was 2024, at 1.0% of GDP; its low point was 2008, at 0.5% of GDP. Latin America & Caribbean median: 1.0% of GDP; Trinidad and Tobago is 12th highest of 22. Worldwide: 112th of 149.