The much anticipated 2020-2021 Trinidad and Tobago Budget was read on October 5, with the follow-up debate on Friday 9. With post-budget talks reflecting fears of further devaluation of our currency and other worrying economic possibilities, one thing is for sure, the development of the agriculture industry is the most promising solution alleviating these facts and fears.
The Minister of Finance proudly indicated that the Ministry of Agriculture, Land and Fisheries will profit from a $500 million stimulus package in addition to the $1.198 billion already allocated. This symbolises a 70 per cent increase from last year’s funding, which is great news.
This funding will allow the “rapid expansion in production and marketing of selected high-demand commodities” like fruits and vegetables with short growth cycles and ruminant livestock, according to the Minister. This sort of growth also extends to sourcing high quality seeds, usage of more sustainable feed-stock and addressing granting easier access to land tenure and idle state lands.