# Trinidad Prime Minister Denies Recession

> Trinidad's PM rejects recession claims, cites IMF growth forecasts.
- Title: Trinidad Prime Minister Denies Recession · The Rio Times
- Summary: Trinidad's PM rejects recession claims, cites IMF growth forecasts. Trinidad's Prime Minister Kamla Persad-Bissessar denies recession, citing 0.8% 2026…
- Keywords: trinidad, kamla persad-bissessar, prime minister, recession, imf, trinidad and tobago, trinidad hilton, magdalena grand, news, world, politics, Prime
- Source: The Rio Times — https://riotimesonline.com/trinidad-prime-minister-denies-recession-2026
- Author: Lachlan Williams
- Published: 2026-10-21T07:35:58+00:00
- Read time: 1 min
- Topics: trinidad, kamla persad-bissessar, prime minister, recession, imf, trinidad and tobago, trinidad hilton, magdalena grand, news, world, politics
## Recession Claim Rejected
Prime Minister Kamla Persad-Bissessar told Parliament on Monday 19 October 2026 the country is in progression and not standing still.

> is in progression
## Growth Forecasts
She cited IMF projections of 0.8% growth for 2026 and 3% for 2027, with 3.5% average growth through 2029.

> 0.8% growth for 2026 and 3% for 2027
## Debt Figures
Adjusted government debt rose 86.5% from TT$75.38 billion in fiscal 2015 to TT$140.58 billion in fiscal 2024.

> 86.5% from TT$75.38 billion in fiscal 2015 to TT$140.58 billion in fiscal 2024
## State Asset Sales
The Prime Minister defended plans to sell loss-making state firms including the Trinidad Hilton and Magdalena Grand resort.

> loss-making state firms including the Trinidad Hilton and Magdalena Grand resort
## Opposition Claims
The Opposition claims a 2.2% fall in economic output this year, citing a Finance Ministry review by former finance minister Colm Imbert.

> 2.2% fall in economic output this year
## Hotel Financials
Magdalena Grand has accumulated TT$240 million in losses, while the Trinidad Hilton requires TT$400 million for upgrades.

> TT$240 million in losses
## Investor Impact
US investors face conflicting economic narratives as the IMF expects energy output to shrink 4.5% this year.

> energy output to shrink 4.5% this year
## Sales Timeline
No price, timetable, or buyer has been announced for the Trinidad Hilton and Magdalena Grand resort sales.

> no price, timetable, or buyer
## Next Steps
The government will work with investors to ensure fair treatment of employees during state asset sales.

> fair treatment of employees
## Key takeaway

Trinidad's Prime Minister Kamla Persad-Bissessar denies recession, citing 0.8% 2026 growth and 3% 2027 projections.