The Trinidad and Tobago Chamber of Industry and Commerce (T&T Chamber) has issued its response to the 2023 National Budget, which was presented by Minister of Finance Colm Imbert on Monday (26th September 2022). In a Media Release, the T&T Chamber said while the Minister of Finance presented an optimistic 2023 National Budget, it remains “reserved about significant impacts on the economy.” The Chamber added, “Despite the ongoing socio-economic challenges posed by inflation, which have been heightened with the ongoing Russia-Ukraine conflict and geo-political tensions, the windfall revenue has seen the budget deficit reduced to $2 billion, from $9 billion in 2022. The estimated $8 billion revenue was derived from the increases to prices of TT's main export commodities of oil, natural gas, and ammonia.” Addressing Minister Imbert’s announced increase in fuel prices, the T&T Chamber said while it understands the need to limit the fuel subsidy, it is “concerned about the impact that this will have on inflation and the population at this time.” See the T&T Chamber’s full response to the 2023 National Budget below: T&T Chamber responds to the National Budget We are a small operation. If you've found our articles to be informative, please consider supporting us via PayPal or buying us a coffee. Your contribution is incredibly appreciated and goes a long way. Simply sharing our articles also helps us. Sign up for our free WhatsApp Alerts to be notified as soon as we post breaking news. NEW! Check out our Merchandise Store for high-quality t-shirts, hats and more!
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