Cover of The Report: Trinidad & Tobago 2017

The Report: Trinidad & Tobago 2017

After facing headwinds such as depressed international energy prices, and rising debt and fiscal imbalances, Trinidad and Tobago’s economic recession appears to be turning a corner, with GDP growth projected to climb to 0.3% in 2017 and 3.4% in 2018. As one of the largest and most diversified economies in the English-speaking Caribbean, the country is beginning to benefit from the new administration’s process of fiscal adjustment and economic diversification, spurred on by an ambitious public works pipeline.

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In this report

The oil and gas industry has historically been Trinidad and Tobago’s primary economic engine, but it has faced challenges in the low-price environment of 2014-16. Strategic decisions are now required across the entire value chain, from incentivising upstream production to improving refinery profitability in the mid-stream and boosting capacity utilisation downstream. After facing pressing short-term fiscal priorities during its first year in office, the current administration has begun a process of fiscal adjustment and is beginning to tackle longer-term issues, such as economic diversification. Getting the country onto a stronger and more sustainable growth path will depend on delivering deeper reforms and effectively managing a new generation of public-private partnerships.

See also:

Economic Roundup: Latin America: Time to build a bloc

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Interviews & Viewpoints

OBG & Trinidad & Tobago

  • OilPrice: How Trinidad & Tobago Is Benefitting From The Venezuelan Crisis
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  • Qatar Tribune: How will MICE segment survive Covid-19
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