Finance Minister Colm Imbert presents, a 59.74 billion dollar national budget for fiscal year 2024/2025.

In his more than 5 hour-long presentations yesterday, Mr. Imbert delivered his 10^th fiscal package under the theme steadfast and resolute, forging pathways to prosperity.

He pegged the budget on an oil price of 77 U.S. dollars per barrel.

He is hoping to raise over 54 billions dollars in revenue.

The finance minister said, the non-oil sector is expected to contribute the largest amount to projected revenues.

He said the fiscal deficit is estimated at just over 5.5 billion dollar, which he says, is well within international standards.

In the break down of the budgetary allocations, education once again takes the largest share followed by health then national security.

The Tobago house of assembly is allocated close to $3 billion dollars, and Mr. Imbert says, it represents an increase over 20% of the last budgetary allocation.

According to Mr. Imbert, his administration has given the THA the largest budgetary allocation than any other administration.

And Mr. Imbert has big plans for Tobago, particularly the Magdalena Grand Hotel.

He says, government intends to offer the hotel for sale or lease, and to develop a 5 star internationally brand hotel on the island.