4
OVERVIEW
Public Sector Investment Programme 2013
9.
An original allocation of $7,500 million was provided in the 2013 Public Sector
Investment Programme (PSIP) for the implementation of programmes and projects. Of this
amount, $3,371 million or 44.9 per cent was budgeted under the Consolidated Fund, and $4,129
million or 55.1 per cent was allocated under the Infrastructure Development Fund (IDF). The
original 2013 PSIP allocation was increased by $380.7 million to $7,880.7 million by way of a
supplementation at the Mid-Year Review.
10.
Although the 2013 PSIP allocation was decreased from the previous year, a year on year
comparison shows a net increase of $43.1 million in the strategic priority area of Poverty
Reduction and Human Capital Development.
11.
During the fiscal year a net upward revised expenditure was recorded under both the
Consolidated and the IDF in the sum of $486.5 million. This increase can be attributed to three
strategic priority areas: Agriculture and Food Security; Poverty Reduction and Human Capital
Development; and Economic Growth, Job Creation, Competitiveness and Innovation. Additional
resources were provided for the Restoration of the President‟s House; Establishment of a College
of Science, Technology and Applied Arts of Trinidad and Tobago (COSTAATT) Campus in
Chaguanas; Scholarships-Full Pay Study Leave for Teachers; Purchase of Vehicles and
Equipment for the Police Service.
12.
For fiscal 2013, the highest overall level of expenditure was reflected under the strategic
priority area of Poverty Reduction and Human Capital Development in the amount of $3,287.9
million, representing 39.8 per cent of the total revised expenditure. Economic Growth, Job
Creation, Competitiveness and Innovation followed, accounting for 31.4 per cent of the total
revised expenditure. Table I illustrates the performance of the 2013 PSIP by Strategic Priority.
