Projections of budget deficit for Trinidad

After more than a decade of strong economic performance, the Trinidad and Tobago government is expecting a budget deficit for the second consecutive year.



Earlier this year, Prime Minister Patrick Manning said the country was expected to lose up to US$800,000 as a result of the global recession and reduced oil prices.



With the fall in revenue the expectation is that the government will cut back on its expenditure.



Speaking ahead of the budget presentation Finance Minister Karen Nunez-Tesheira said the government would be borrowing to fund development projects.