STATE ENTERPRISES’ INVESTMENT PROGRAMME 2014
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SUSTAINING GROWTH, SECURING PROSPERITY
In these volatile economic times marked by low growth rates, Central Banks across the
globe remain steadfast in their pursuits tostimulateeconomic activity.Ongoingattempts
through an accommodative monetary stance have spurred signs of moderate recovery
in the first quarter of 2013 resulting in a global growth rate of 2.75 percent. This change
gave rise to a reassuring outlook for 2013, though onlymarginally higher than the growth
experienced in the latter half of 2012. In spite of these encouraging reports, the initial
positive outlook was overpowered by the extended recession in the euro area; growth
disappointments in emerging economies such as China and Brazil; and the weaker than
expected expansion in the United States of America (US). These challenges eventually
triggered the International Monetary Fund (IMF) to revise its estimate from3.3% to 3.1%
for 2013 and from 4% to 3.8% for 2014.
With the performance of the global economy falling short of expectations, the CARICOM
region was no different. According to the IMF, constraints in the tourism sector and high
levels of debt lead to reduction in growth projections for the region, to less than 2%.
On the local front, reports by the Central Bank of Trinidad and Tobago indicated that in
the first quarter of 2013 the Trinidad and Tobago economy grew by 1.6%, core inflation
remained relatively stable at 2.2%, unemployment at 5% and anticipated a growth rate
of 2.5% in the next fiscal year.
As the economy recuperates from the effects of the downturn, the Government of the
Republic of Trinidad and Tobago (GORTT) continues to strive to promote sustainable
development. Inkeepingwith this, it is imperative that StateEnterprises inexecuting their
mandate, utilize the available resources in a more efficient and effective manner to build
a competitive economic base in order to withstand the vagaries of the changing global
environment. It is in this context that the State Enterprises’ Investment Programme
(SEIP) 2014 provides an overview of the developmental capital programmes undertaken
by wholly and majority owned State Enterprises and Statutory Authorities.
The SEIP focuses on programmes which are financed by the entity, either through its
retained earnings or by debt raised and serviced by the agency or government.
The 2014 State Enterprises’ Investment Programme includes projects that cover the
following areas:
• Business and Trade Expansion — Energy Sector
• Business and Trade Expansion —Non-Energy Sector
- Electricity
- Tourism
- Transport and Communication
- Education and Training
- Community
- Housing and Settlements
- Health
- Public Order and Safety
- Public Administration
FOREWORD
FOREWORD
