Daily Brief - Friday 28th October, 2022

NEWS

Turtles take Trinidad and Tobago to top tourism tier

The eco-tourism activity of turtle-watching has taken TT to the ranks of the top 25 Best of the World destinations for 2023 as named by National Geographic, said a recent statement from Tourism Trinidad Ltd (TTL). "TT was identified under the family category as ‘one of the most important leather back turtle nesting sites in the world’ and has emerged as a leader on the world stage in the battle to save the leather back turtle population." TTL lauded those who had helped this conservation effort. Read more here

Weather Forecast – Friday 28 October 2022 

TRINIDAD, TOBAGO AND THE WINDWARD ISLANDS. Today will be mostly cloudy with periods of showers or rain over broad areas. There is also a very high (70% to 80%) chance of isolated thunderstorm activity during the morning period. Conditions are expected to gradually settle towards the afternoon/early evening, despite a few lingering showers and the risk of an isolated thunderstorm. Gusty winds and street/flash flooding are likely near heavy downpours. Read more here

 

POLITICS

Minister welcomes return of North Stand

Minister of Tourism, Culture and the Arts Randall Mitchell says he supports the National Carnival Commission’s (NCC) decision to bring back the North Stand at the Queen’s Park Savannah for Carnival 2023. The stand was closed in 2018 as it was deemed by the NCC as too expensive to build. The stand had traditionally facilitated not only PanTrinbago’s Panorama events but the Dimanche Gras show, King and Queen of the Bands competition, Parade of the Bands and calypso tent clashes during the Carnival season. Mitchell noted that the NCC had indicated to him that the cost of erecting the North Stand could be repaid through hosting one pan event. And they have committed to finding more ways to ensuring that the facility is used to maximum effect and better monetised. Read more here

Finance Ministry: Almost-balanced budget for 2022

Minister in the Ministry of Finance Brian Manning welcomed the news on Thursday that TT received higher revenue for the last fiscal year than was originally estimated. But former minister in the ministry of finance Vasant Bharath did not believe this news painted a true picture of TT's economic reality. The National Transformation Alliance, led by former national security minister and former police commissioner Gary Griffith, welcomed the improved revenue, but said Government could not take credit for it. Read more here

 

BUSINESS

Imbert: Oil revenue almost twice as much as expected

Finance Minister Colm Imbert says Government has gotten more revenue than initially expected from oil companies. In 2021 he said tax collection from oil revenue was $3.1 billion while in 2022 Government estimated that figure to be $5.53 billion. However, the latter figure was actually doubled. “What we actually found when we did our estimates just before the budget in October 2022 was instead of getting $5.53 billion in revenue from the oil companies we got $10.45 billion, almost twice as much,” Imbert said. The minister made the remarks while speaking at the “Conversations on Energy and the Economy” hosted by the Energy Chamber and held at Hyatt Regency on Wednesday afternoon. Read more here

T&T’s 2022 deficit cut to 0.2%

The Ministry of Finance yesterday reported that T&T’s deficit for the 2022 fiscal year, which ended on September 30, 2022, has been revised downwards to 0.2 per cent of gross domestic product (GDP). In a news release, the Ministry of Finance said at the time of the presentation of the 2023 Budget on September 26, 2022, the revenue figures for Fiscal 2022 were based on actual figures, from October 1, 2021 to August 31, 2022, and estimated figures for the month of September 2022. The ministry said it is now in receipt of the final figures for the actual revenue collections in Fiscal 2022, up to the end of September 2022. Read more here

 

REGIONAL

Thousands of acres of farmlands opened

Work on the Ituni to Tacama road in Region 10 has been completed, opening up over thousands of acres of farmlands. In July, a $251.4 million contract was signed by the Ministry of Agriculture and Associated Construction Services for the rehabilitation of this road. The project which fell under the purview of the National Drainage and Irrigation Authority (NDIA), will see improved access to thousands of acres of farmlands, including those lands used in the cultivation of corn, soya and sorghum, among other produce. Read more here

 

INTERNATIONAL

Russia ends civilian pull-out before Kherson battle

Russian officials say they have completed an operation to move civilians out of the southern city of Kherson ahead of an expected battle with Ukrainian forces. At least 70,000 civilians are said to have crossed the Dnipro river, in what Ukraine has called forced deportations. "We're preparing Kherson for defence," said Russian militia commander Alexander Khodakovsky. "We're taking the civilian population out, in many ways untying our hands." Ukraine's southern Kherson region was one of four areas of Ukraine annexed by Vladimir Putin last month, despite Russia not having total control of any of them. Read more here

 

28th October 2022

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