T&T Govt fiscal position getting stronger: Central Bank report

By Trinidad Express

(TRINIDAD EXPRESS) – The Central Bank reported yesterday that the central government’s financial accounts improved for the first seven months of fiscal year—from October 1, 2017 to April 30, 2018.

In the May 2018, Monetary Policy Report (MPR), which was issued yesterday, the Central Bank said preliminary data from the Ministry of Finance show that the central government accounts incurred a deficit of $2.9 billion in the first seven months of FY 2018 compared to a deficit of $9 billion in the corresponding period one year earlier.

“The smaller deficit was consistent with higher energy and non-energy revenues along with reduced expenditure,” said the Central Bank, referring to the mid-year budget review in which the Government signalled its intention to reduce public expenditure by 3.3 per cent to $48.8 billion from $50.5 billion originally budgeted for FY2018.

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