Trinidad & Tobago Articles & Analysis

Optimism is returning to Trinidad and Tobago after years of recession. With the IMF forecasting GDP expansion of 1% in 2018 and 0.9% in 2019, the government now has the opportunity to shift their focus from tackling short-term economic problems to implementing long-term reforms and policy initiatives.

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As the political, economic and migration crisis rolls on in Venezuela, and a significant number of migrants continue to make their way to Trinidad and Tobago, the government and business figures are evaluating their potential impact.

An increase in gas production and new economic data has prompted major international institutions to update their economic projections for Trinidad and Tobago, with the country’s outlook for 2019 more positive than previously expected.

After two years of contraction, the Trinidad & Tobago economy is expected to have returned to growth in 2018, fuelled by increased energy sector returns and a recovery in strategic non-hydrocarbons sectors, including manufacturing and insurance.

Stronger energy revenues, improved tax collection and a solid performance in the non-oil sector should combine to deliver Trinidad and Tobago’s first annual GDP growth since 2015, according to estimates in this fiscal year’s budget.

 

In a show of commitment to the well-being of citizens, the government allocated TT$6.03bn ($894.4m) to the health sector in the FY 2018 budget, placing it in the top-three publicly funded areas of the economy behind education and national security. While this figure represents a decline from FY 2017, when the allocation was TT$6.25bn ($927m),...

 

In recent decades, the pharmaceutical market has expanded its geographical reach. This trend appears to be here to stay; in a survey of major pharmaceutical firms conducted by global consulting firm PwC’s Strategy& team, more than half of respondents anticipated that over 30% of their global sales would originate in emerging markets by...