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T&T needs $5 Billion per month to meet its expenditure with salaries

T&T needs $5 Billion per month to meet its expenditure with salaries

Colm-Imbert-power102 (1)

Finance Minister, Colm Imbert

Trinidad and Tobago needs five billion dollars per month to meet its expenditure with salaries and wages amounting to just over one billion.

So said Finance minister Colm Imbert at a PNM Public meeting In St Joseph, East Trinidad last night.

Mr Imbert made the declarations as he sought to clear the air on what led Government to take 2.5 billion TT dollars from the Heritage and Stabilization Fund.

It was the first time that any money was withdrawn from the fund which was established by an act of Parliament in 2007.

Mr Imbert said in May this year the Government was faced with an overdraft problem to the extent that it tried sourcing funds from different entities but none was available.

The Finance Minister referenced his approach to finding funds to meet government expenses.

And to applause by attendees at the meeting, Mr Imbert spoke of the approach to the Heritage and Stabilization Fund.

Finance Minister, Colm Imbert

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