Tobago currently stands at the critical juncture of an economic turnaround and in this regard, the role of the Public Sector Investment Programme (PSIP) in propelling the island to a clear path of development cannot be understated. Tobago’s population and labour force positive growth rates would necessitate a higher demand for goods and services, as well as the supporting demand for PSIP funding.
The Public Sector Investment Programme (PSIP) is a strategic investment management tool used by the Government of the Republic of Trinidad and Tobago to transform its vision and policies into tangible programmes and projects. These projects and programmes are designed to realise the goals set out in Government’s overarching National Development Strategy (NDS) 2016 – 2030 (Vision 2030). The results of which are reflected in improvements in the quality of life, socio-economic built infrastructure and utilises greater efficiency and more effective governance systems.
The Social Sector Investment Programme (SSIP) examines the social landscape of Trinidad and Tobago, highlighting progress made towards attaining social transformation and development. It provides an overview of the international, Caribbean and national social situations; examines existing and new social sector initiatives and the investment made by the key social sector Ministries and the Tobago House of Assembly (THA) towards social development during the 2019 fiscal year and social sector plans for the 2020 fiscal year.
2019 Mid Year Budget Review
The Social Sector Investment Programme (SSIP) 2019, provides an overview of the international, Caribbean and national social situations; examines existing and new social sector initiatives and the investment made by government towards social development during the 2018 fiscal year; and social sector plans for the 2019 fiscal year.
The outlook of the country following the global financial realities have expectantly impacted on the national economy and the national policy initiatives in response to these externalities placed the island in the mode of strategic re-direction. Among the national goals like moving towards a balanced budget, diversification and fiscal stabilisation, the tenor is mirrored in Tobago despite the obvious macroeconomic differences between the islands. In light of the decline in revenues from the energy sector, national output from the non-energy sector and the overall continuation of fiscal discipline, the Tobago House of Assembly (THA) shared the economic fortunes at the national level.
2018 Mid Year Budget Review – Presented by The Honourable Colm Imbert, Minister Of Finance in The House Of Representatives On Thursday May 10th, 2018
2018 Budget Fiscal Measures
Tobago has not been spared from the adverse economic effects that the country
encountered due to lower commodity prices in the energy sector that translated into a reduction in
Government Revenue. The THA has made the necessary adjustments to adapt to the changing
national and international realities.
The Public Sector Investment Programme (PSIP) is a budgeting and strategic planning tool employed by the Government of the Republic of Trinidad and Tobago to translate its vision and policies into tangible projects and programmes. These projects and programmes are designed to realise the goals set out in Government’s overarching Draft National Development Strategy (NDS) 2016 – 2030 (Vision 2030) which is ultimately geared towards improving the quality of life for the citizens of Trinidad and Tobago.