The Minister of Finance for Trinidad and Tobago, Mr. Colm Imbert, delivered the government’s 2018 budget address earlier this month, outlining a stern austerity package that will require Trinbagonians to make “a serious adjustment”. Price hikes and tax increases will likely result in a higher cost of living for those in the twin-island nation and Finance Minister Imbert acknowledged the “hard and difficult choices” his government had made in trying to reverse the downward slump.
Saint Lucia, which faces many of the same threats, has taken a different approach. As Trinidad & Tobago tightens its belt, Saint Lucia prepares to loosen its own.
Look out for the October 21 issue of The STAR Businessweek where you’ll find a play-by-play analysis of each country’s fiscal strategy and an examination into just how differently both nations are approaching the same problems.