State Enterprises’ purchasing power has been shielded largely by the lower rate of inflation prevailing in the domestic economy, compared to other Eastern Caribbean economies ranked by the International Monetary Fund (IMF), as amongst the lowest in the world. In contrast, the IMF, in its July 2025 Update of its World Economic Outlook (WEO), laments the significant uncertainty and downside risks due to geopolitical threats and a potentially unclear policy path following political changes in 2024. The IMF also forecasts a decline in energy commodity prices by 2.6% in 2025, influenced by weak Chinese demand and increased supply from non-OPEC+ nations.

Total investment in fixed capital by the State Enterprises sector for fiscal 2025 is projected to be just over $4,092 million. Of that sum, approximately 67 percent is expected to be incurred between the period April to September 2025. Driving the total projection for 2026 is expenditure in the Energy sector, in the vicinity of $1,800 million. Heritage Petroleum Company Limited accounts for the largest share of that sum, amounting to some $1,225 million from retained earnings, mainly on land and drilling projects. At a distant second in the Energy sector, The National Gas Company of Trinidad and Tobago Limited, projects expenditure circa $329 million from retained earnings by the end of fiscal year 2026, 77 percent of which will be concentrated on the Beachfield Manatee Upgrade.

Looking ahead to 2026, the State Enterprises Investment Programme is projected to be just over $3,619 million towards fixed capital. Again, the bulk of this investment, estimated around $1,816 million will be attracted by the Energy sector, with Heritage Petroleum Company Limited taking the lead, with ongoing offshore and land drilling projects. The National Infrastructural Development Company Limited will be advancing the San Fernando to Point Fortin Highway where the priority link is 93% complete.