The biggest chunk of the $49.573 billion Budget for 2020/2021 has gone to the Education and Training sector—with an allocation of some $7.93 billion.
Finance Minister Colm Imbert said the 2021 Budget is pegged on an oil price of US$45 and a gas price of US$3.00 per MMBTU.
Speaking in Parliament on Monday, Imbert said the budget deficit is projected at $8.20 billion.
Minister Imbert stated the allocations:
● Health Sector will receive $6.050 billion;
● National Security will be allocated $5.277 billion;
● Works and Transport will be allocated $2.965 billion;
● Public Utilities will be allocated $2.091 billion;
● Agriculture will be allocated $1.198 billion; and
● Housing will be allocated $1 billion.
The Finance Minister said T&T’s oil revenue is projected to be $9.265 billion, while non-oil revenue is projected to be $31.193 billion, over the next fiscal year.