The Central Bank of Trinidad and Tobago published its Annual Economic Survey 2025, reviewing economic and financial developments in 2025 and setting out an outlook for 2026. The report points to moderating domestic activity in 2025 as weak non-energy output offset stronger energy production, alongside contained inflation and relatively low unemployment. Real GDP rose by 0.2% over the first nine months of 2025, with energy sector output up 2.2% and non-energy output down 0.6%; unemployment averaged 4.5% over the same period. Headline inflation averaged 1.0% in 2025 (up from 0.5% in 2024). For FY2024/25, the Central Government recorded a deficit of TTD 8.1bn (4.6% of GDP) on revenue of TTD 49.1bn and expenditure of TTD 57.2bn, while adjusted General Government debt reached TTD 146.9bn (84.0% of GDP) at end-September 2025. Monetary policy settings were unchanged, with the repo rate maintained at 3.50% in 2025; the Bank managed liquidity through maturities and OMOs amid tighter conditions linked to government borrowing. External accounts recorded a deficit of USD 908.2m in the first nine months of 2025, and gross official reserves fell by USD 235.3m in 2025 to USD 5,369.0m (6.3 months of import cover); the Central Bank sold USD 1,287.7m to authorised dealers to support a tight foreign exchange market. For 2026, the Survey flags downside risks to the global outlook linked to the US-Israel-Iran war and cites the International Monetary Fund’s projection of 3.1% world growth and 4.4% global inflation. Domestically, activity is expected to stabilise, with the energy sector supported by production start-ups at bpTT’s Cypre and Mento fields, and the FY2025/26 budget projecting a deficit of TTD 3.9bn (2.2% of GDP).
Central Bank of Trinidad & Tobago 2026-04-21
Central Bank of Trinidad and Tobago releases Annual Economic Survey 2025 with 0.2% GDP growth and a TTD 8.1bn fiscal deficit
The Central Bank of Trinidad and Tobago’s Annual Economic Survey 2025 reported 0.2% real GDP growth in the first nine months of 2025, with a 2.2% rise in energy output offsetting a 0.6% fall in non-energy activity, 1.0% inflation and 4.5% unemployment. The Central Government posted a FY2024/25 deficit of TTD 8.1bn (4.6% of GDP) and adjusted General Government debt of TTD 146.9bn (84.0% of GDP). The external accounts showed a USD 908.2m deficit and reserves declined to USD 5,369.0m (6.3 months of imports) amid Central Bank foreign exchange sales. The repo rate stayed at 3.50%. For 2026, the Bank expects domestic activity to stabilise, supported by new energy production, against a global outlook facing downside risks from the US‑Israel‑Iran war.