Government Defends Budget As Senate Passes Bill

The Appropriation (Financial Year 2027) Bill, 2026, was passed in the Senate on Monday, but not before Minister in the Ministry of Finance Dr Kennedy Swaratsingh defended the Government’s handling of the economy, pointing to inherited debt, social commitments and investments in Tobago.

The Bill, which authorises Government expenditure for the 2027 financial year, was passed late on Monday night, following a motion by Minister Swaratsingh. He moved that the Bill be passed, waiving the committee stage, during which legislation is typically examined clause by clause. The Bill instead proceeded directly to a final vote.

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Responding to concerns about the Government’s borrowing, Dr Swaratsingh said a significant portion of the $21 billion borrowed was used to refinance inherited debt, including a US$1 billion Eurobond that was due in August.