BUDGET STATEMENT 2014
5
SUSTAINING GROWTH, SECURING PROSPERITY
Mr. Speaker, we:
• provided financial assistance to elite athletes
in the amount of $6.6 million in preparation
for their participation in regional and
international championships;
• commenced developmental works at the
Hasely Crawford, Larry Gomes, Mannie
Ramjohn and Dwight Yorke Stadia;
• expanded the On-the-Job-Training (OJT)
programme to include culinary arts,
environment, agriculture and media;
• completed 50 pipeline projects providing
a new and more reliable supply of water to
over 11,400 residents throughout Trinidad
and Tobago at an estimated $47.2 million;
• procured 5 Portable Water Treatment Plants
for Talparo, Matura, Penal, Point Fortin and
Fyzabad increasing potable water supply for
approximately 11,500 persons;
• implemented 969 projects in Local
Government;
• equipped 108 Early Childhood Care and
Education (ECCE) centres with resources
and instructional materials;
• launched the CLICO Investment Fund and
commenced payments to the Hindu Credit
Union (HCU) depositors and shareholders;
• commenced construction of the UWI South
Campus and the Signal Hill UWI Open
Campus in Tobago;
• commenced construction of the Couva
Children’s’ Hospital;
• launched the University of Trinidad and
Tobago Education Campus in Tobago;
2. REVIEWOF FY 2012-2013 STRATEGY
FISCAL PERFORMANCE
Mr. Speaker, in the last fiscal year we had
projected revenue of $50.7 billion, expenditure
of $58.4 billion with a deficit of $7.7 billion.
Despite our decision to effect payment of
arrears of salaries to public servants amounting
to $1.8 billion for the period 2008–2010, we
expect to end the year with a much lower deficit
than was projected in our 2013 Budget. This
was brought about by higher than estimated
revenues generated from both the energy and
non-energy sectors and lower than expected
expenditures. The growth in non-oil revenues
was particularly heartening as it pointed to the
continuing expansion of the economy.
In the case of capital expenditure, several
projects, including the hospitals identified
in our last Budget, are still in the planning
stage and this resulted in lower than expected
expenditure. In addition, a restructuring and
rationalisation of the Programme for Upgrading
Roads Efficiency (PURE) resulted in a temporary
interruption of several highway projects; but the
programme has since been resumed with the
recommencement of several projects.
ACHIEVEMENTS OVER THE LAST
FISCAL YEAR
Mr. Speaker, I have also laid 11 documents in
this Parliament. They are all available to the
public online. They provide a full accounting of
Government’s expenditure and performance
over the past year. I shall highlight a few of our
achievements:
