Fiscal Policy 2018

(An extract from Foreign Direct Investment 2018)

Functioning on a budgetary allocation; 26.39% of the nation’s total expenditure, as reported by the office of the Auditor General 2016 and 30.39% in the 2017 revised estimates, while estimating 30.46% for 2018 down by 0.93%, as published by the Ministry of Finance. This category, comprises the Ministry of Finance, Charges on Account of the Public Debt and Pensions and Gratuities, must focus efforts on increasing productivity and revenue collection while, reducing the nation's debt and debt servicing expense. Hence, as core revenues fall, below recurrent expenditure, resulting in mounting deficits, forcing new borrowings to balance the nation’s annual budget, severe pending cuts, will then trigger an inability to borrow or repay placing the economy into a debt trap.

Economic Drivers 2018

(An extract from Foreign Direct Investment 2018)

Operating on 5.90% of the nation’s total expenditure, as reported by the office of the Auditor General 2016 and 4.39% in the 2017 revised estimates, while estimating 3.84% for 2018 down by 13.44%, as published by the Ministry of Finance. Economic Drivers are administered by the Ministries of Energy and Energy Industries, Agriculture, Lands and Fisheries, Planning and Development, Foreign and CARICOM Affairs, Labour and Small Enterprise Development, Trade and Industries, and Tourism. The nation's revenue, to offset its total annual expenditure, comes from the collections of taxes, duties and royalties; taxes on (personal income) salaries and wages, on (consumption) sales and value added, on (operations) business levy and green fund, on (corporation) profits, etc. Such revenue generating activities are encouraged and facilitated via Economic Drivers, which designs, implements and reviews the conditions for investment, employment and, the resulting, taxation.

Infrastructure Management 2018

(An extract from Foreign Direct Investment 2018)

Utilizing 20.38% of the nation’s total expenditure, as reported by the office of the Auditor General 2016 and 20.39% in the 2017 revised estimates, while estimating 20.60% for 2018 down by 0.17%, as published by the Ministry of Finance, to maintain and expand public spaces. Such Infrastructure expenditure has widely been realized and accepted to directly impact productivity; outputs, driven by comfortable and safe, work and play environments, for example; organizations to produce and deliver water and electricity, industrial parks, courts, police stations, hospital, schools, housing, administration offices, communications, community centers, open parks, transport hubs, roads and bridges, etc. This Infrastructure Management category consist of the Ministries of Public Utilities, Works and Transport, Rural Development and Local Government, Housing and Urban Development and the Tobago House of Assembly.

Human Development 2018

(An extract from Foreign Direct Investment 2018)

This comprised expenditure funds totaling 29.64% of the nation’s total expenditure, as reported by the office of the Auditor General 2016 and 28.49% in the 2017 revised estimates, while estimating 29.44% up by 2.14% for 2018, as published by the Ministry of Finance. The Human Development category is to execute policies, strategies and initiatives of the Ministries of Health, Education, Social Development and Family Services, Community Development, Culture and the Arts, and Sport and Youth Affairs.

Resource Preservation 2018

(An extract from Foreign Direct Investment 2018)

The objective is to protect and preserve the nation's assets; its people, its property, its peace, under conditions of depleted financial resources with less dedicated and approved budgetary allocation of public expenditure. Resource Preservation comprised expenditure funds totaling 13.21% of the nation’s total expenditure, as reported by the office of the Auditor General 2016 and 12.02% in the 2017 revised estimates, while estimating 11.1% down by 8.77% for 2018, as published by the Ministry of Finance. These funds are to enact the policies of the Ministry of National Security; the Defence Forces, its arms, divisions and initiatives, along with the crime deterrence strategies of the Police Service, whose expenditure is independently control. Noting that, the non-executive President of the nation is the Commander and Chief of the Defence Forces, further subdivided into the Regiment, the Coast Guard and Air Guard, with reserves and other specialty units.