AMCHAM T&T says it is “optimistic” that the 2021 budget contains some initiatives that could set the platform for future growth.
In particular, it applauded the measures for the digital transformation of the local economy.
It referred specifically to the commitment to an e-payment gateway for government services, national e-identity and unique national identification number, as well as the use of virtual courts.
It also welcomed measures to tackle specific impediments to the ease of doing business such as the time taken to get permits, modernization of the Port of Port of Spain and liberalization of the fuel market.
However despite its optimism, it is concerned about the Minister’s revenue projection of about $41.4 billion for 2021.
It reminds that T&T only managed to raise $32.5 billion in fiscal 2020, and is still being affected by the COVID-19 pandemic.
AMCHAM says it is “somewhat worried” that his target is overly ambitious and may force the government to undertake further borrowing or mid-year cuts that could undermine attempts at modernisation.