The Bankers’ Association of Trinidad and Tobago (BATT) commends the government in its efforts to close the deficit gap, in FY2022 and more so in FY2023. The budget’s focus on the vulnerable, lower income groups, small and medium sized enterprises as well as its deeper commitment to financial inclusion, digitalization, and the incorporation of renewables within the energy mix are all welcomed measures that are closely aligned to BATT’s advocacy thrust.
BATT is particularly encouraged by the government’s continued investment in ICT infrastructure and consequently its role in the digital transformation of the economy. The focus on transitioning to a cashless society, digitalizing government services, coupled with expanded initiatives to ease the cost and time to do business in Trinidad and Tobago are all to be commended.
Efforts to create more access to financial services to unbanked and underbanked citizens across the country are noteworthy, as is the national financial inclusion survey, intended to identify barriers impacting financially underserved adults.
BATT appreciates the government’s development of a renewable energy policy and its pursuit of a broad mix of projects in its energy transition strategy including the Feed-in Tariff (FIT) Policy to facilitate residential and commercial renewable energy generation, and the planned construction of the Solar Photovoltaic energy plant.
BATT also looks forward to continuing its collaboration with the government in providing financial support to SMEs through its proposed long-term loan guarantee program and reaffirms its commitment improving the lives of all citizens of Trinidad and Tobago.