Everyone will benefit from budget: PM Kamla

Teamwork: PM Kamla Persad-Bissessar and Finance Minister Winston Dookeran

Prime Minister Kamla Persad-Bissessar told reporters Monday deficit financing in necessary to help the government boost the economy.

She was commenting on the 2012 Budget of $54.6 billion presented by Finance Minister Winston Dookeran that projects a deficit of $7.6 billion

Persad-Bissessar said, "I see nothing wrong with deficit financing...(to) help us to drive the economy".

She added, "We see large countries that are growing very well now, they have utilised their approach of deficit financing and I think that it is a good approach."

The Prime Minister said the budget demonstrates that her Government has "put money where our mouth is", noting that the focus has been on priority areas such as national security, education and health.

Persad-Bissessar said the focus on education is because "the new wealth in the world is knowledge".

With respect to health, she said the San Fernando General Hospital will become a medical training centre with the Naparima Bowl being used as a training facility. In addition she said the Scarborough Hospital will also be a teaching hospital to attract medical tourism to the sister isle.

The Prime Minister also spoke of technology, making specific reference to a new computer tablet available to students in India at a cost of US$35.

The budget has allocated a monthly allowance of $1,000 to all arms of the protective services. Persad-Bissessar said that's a promise she made and one that she is happy to fulfill.

She dismissed suggestions that the State of Emergency is having a negative impact on the economy and hurting investor confidence. 

"I do believe that there is more confidence in safety and security in Trinidad and Tobago under this state of emergency at this time," Persad-Bissessar said, noting that the murder rate is down by 70 per cent.

"I don't think the state of emergency has affected our investor confidence," she said.

Persad-Bissessar expressed confidence that every citizen of the country will benefit from the budget.