AboutUpdated27 Oct 2026
National Budget · Fiscal 2027 · 1 October 2026 – 30 September 2027
“A People-Centered Approach: Investing in Communities, Transforming the Economy and Securing a Sustainable Future.” Presented to Parliament by the Minister of Finance on 12 Oct 2026. Every figure on this page is transcribed from the Budget Statement, with page references.
Total expenditure
TT$63.4B
+3.5% vs FY2026 revised
Total revenue
TT$59.7B
+10.1% vs FY2026 revised
Fiscal deficit
TT$3.64B
2.1% of GDP · within the 3% benchmark
Deficit narrowed by
TT$3.36B
From TT$7B in FY2026 (revised)
Revenue, expenditure and deficit, TTD. Budget Statement p.27.
Assumptions
US$77.00
US$73.25 in FY2026
US$5.00/MMBtu
US$4.25 in FY2026
2.1% of GDP
4.0% of GDP as at June 2026 (p.5)
TT$2.76B
4.35% of the national budget
The FY2026 revised estimate (revenue TT$54.2B, expenditure TT$61.2B) is consistent with the Mid-Year Review. Budget Statement p.27.
Where the money comes from
Non-oil revenue carries three-quarters of the budget. Oil revenue is priced at US$77 per barrel and US$5.00 per MMBtu of gas. Budget Statement p.27.
Energy-sector taxes and royalties at US$77/bbl oil and US$5.00/MMBtu gas.
Taxes on income, goods and services, trade, property and non-tax revenue.
Proceeds from sale of assets and other capital receipts.
New measures — quantified revenue
TT$1.03B
Sum of the measures with a stated revenue effect
New measures — quantified relief & spending
TT$584M
Grant increases, pensioner allowance, TVET, READY
National Investment Fund
≈ TT$1B
Expected proceeds of the NIF 3 bond, launching in the coming months (p.13).
Where the money goes
The nine sector totals the Minister read into the record add up to TT$35.5B — 56% of total expenditure. Head-by-Head allocations, from Parliament's Budget Guides 2027, are on the Ministries page.
TTD. Budget Statement p.27.
Tobago
TT$3.47B
Total for Tobago · 5.48% of the budget
TT$2.76B
THA direct · 4.35%
Plus TT$717M spent by ministries on Tobago projects and TT$100M in CAF financing for coastal protection, reforestation and the Sargassum Response Project (p.27).
Named allocations
Fiscal and other measures
Every tax change, relief and reform announced in the Statement (p.27–35), with its stated revenue effect and effective date. Most take effect on 1 January 2027.
Measures shown
35 / 35
Quantified revenue
TT$1.03B
Quantified relief / cost
TT$584M
The economic picture
The Ministry of Finance's own numbers for the state of the economy, as read into the record. For long-run World Bank series see the Economy dashboard.
Real GDP growth
−1.8%
Q1 2026 · Energy sector −2.8%; non-energy manufacturing +11.6%; food, beverage & tobacco +20.5%
Headline inflation
0.6%
July 2026 · Food inflation 1.7%, down from 4.7% in April 2025
Net official reserves
US$5.4B
12 Oct 2026 · 6.2 months of import cover
HSF net asset value
US$6.58B
31 Aug 2026 · Up from US$5.98B at 30 Apr 2025 — highest in the Fund's history
Persons employed
564,000
Q1 2026 · +5,100 vs Q1 2025; participation rate 55.1% (from 54.3%)
Fiscal deficit
4.0%
June 2026 · Down from 5.8% of GDP inherited; FY2027 target 2.1%
Debt refinanced
TT$21B+
Last 18 months · A further TT$70B falls due over the next 5 years
Monthly FX injection
US$10M
Since July 2026 · Additional Central Bank cash to commercial banks
Moody's · June 2026
Ba2 · Stable
Outlook upgraded from Negative
S&P Global · July 2026
Investment grade · Reaffirmed
Investment-grade rating reaffirmed
CariCRIS · October 2026
CariAA · Stable
Regional rating reaffirmed
Energy
Natural gas production has fallen 45% from a 4.4 bcf/d peak in 2014 to 2.4 bcf/d today. The Statement lists the projects expected to reverse that (p.13–14).
Million standard cubic feet per day (mmscf/d), as stated.
Manatee Plus
Operator not stated · Late 2027
Ginger
bpTT · Q1 2027
Coconut
Operator not stated · 2027
Mento
EOG Resources · Peak June 2026
Juniper Phase II
Operator not stated · 2027
Mento Phase II
Operator not stated · On-stream date not stated
Mahogany A Extended
Operator not stated · 2027
Aphrodite
Operator not stated · 2027
Angelin Extended
Operator not stated · Currently producing
Cypre
bpTT · On stream
Manakin-Coquina
Operator not stated · FID Nov 2026
Gas output today
2.4 bcf/d
Peak 4.4 bcf/d in 2014
Oil output
52.4k bpd
Apr 2025 · 78.7k in 2015
Upstream investment
ExxonMobil’s ultra-deepwater programme represents a potential US$21.00B investment; bpTT’s Loran Phase II licence opens access to more than 4 tcf of cross-border gas. NGC reported TT$3.46B profit after tax for 2025 (p.7, 14).
Accountability
The Minister reported the outturn of last year's new taxes and fees (p.10), and the under-execution of the capital programme (p.10).
| FY2026 measure | Revenue collected |
|---|---|
| Customs & excise duty increases on alcohol and cigarettes | TT$1.23B |
| Asset Levy on banks and insurance companies | TT$397M |
| Landlord Business Surcharge 18,678 landlords registered — $48.4M fees + $85.6M surcharge | TT$134M |
| Electricity surcharge (industrial & commercial) | TT$89M |
| Club Gaming Tax adjustment (liquor-licence holders) | TT$65M |
| MVT, VAT and duty on luxury EVs | TT$16M |
| Single-Use Plastic Tax | TT$14M |
| Other fees, charges and licences | TT$2M |
| Total from FY2026 measures | TT$1.95B |
Public Sector Investment Programme
60%
of the capital budget executed
TT$3B spent
of TT$5B budgeted
“Of course, this is concerning.” The review identified procurement as a major impediment; the Public Procurement and Disposal of Public Property Act was amended to increase approved procurement limits (p.11). Bills for FY2026 were still being received at the time of the Statement.
Browse the contract registrySource & method
All figures transcribed from the Budget Statement 2027, Ministry of Finance (12 Oct 2026) — web PDF, 36 pp, published by the Ministry of Finance, Government of the Republic of Trinidad and Tobago. Page numbers refer to that public PDF; the Minister’s reading copy and the smartphone edition paginate differently. Operators of gas projects are shown only where the Statement names them. Note that the Statement itself gives two Public Assistance Grant recipient counts (13,637 on p.8 and 15,525 on p.22) and costs the three grant increases at TT$555M; both are reproduced as stated. The web PDF numbers its measures 1–33 and leaves the Foreign Investment Act (p.33) and Capital Market Deepening (p.35) items unnumbered; this page numbers all 35 in reading order, so items 31–34 here carry the PDF’s own numbers 30–33. Data licensed CC BY 4.0.
People
Social support
Grants rise by TT$250 a month from 1 January 2027, at a cost of TT$555M a year. In FY2026 the main social programmes cost more than TT$5.3B.
Senior Citizens' Grant
+TT$250/ month
124,000 recipients · First increase in 12 years
Disability Assistance Grant
+TT$250/ month
28,000 recipients · Adults and eligible children
Public Assistance Grant
+TT$250/ month
13,637 recipients · +$250 in each tier
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