New legislation to tighten regulatory oversight and reinforce fiscal buffers should better insulate Trinidad and Tobago’s insurance sector against external shocks, while also bolstering clients’ rights through stronger accountability requirements.
Trinidad & Tobago
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Economic update | Restructure of state assets to spearhead Trinidad and Tobago’s energy rebound
13 Apr 2018
Trinidad and Tobago has moved to strengthen its energy industry amid a recent increase in gas production, with officials outlining plans to restructure the national oil company and reform existing energy agreements to improve efficiency and financial sustainability.
Improved air and sea connectivity is expected to bolster regional ties and support growth in Trinidad and Tobago’s tourism sector.
Trinidad and Tobago has launched two programmes to incentivise new residential housing projects, with the aim of addressing a national housing shortfall and boosting activity in the construction sector.
Continuing lower returns from the energy industry and slowing activity in the private sector saw Trinidad and Tobago’s economy shrink in 2017; however, an increase in gas output and widespread reform of the tax system are expected to drive a rebound in the coming year.
Economic update | Wide-ranging tax reforms to boost Trinidad and Tobago’s revenue collection
28 Nov 2017
Trinidad and Tobago is enacting sweeping changes to its tax system, with the government to establish a new revenue authority and implement a series of reforms as part of efforts to bolster state revenues and address recent fiscal imbalances.