3
OVERVIEW
Public Sector Investment Programme 2013
5.
The THA was allocated resources in the sum of $350 million or 4.7 percent of the total
PSIP in fiscal 2013 to continue its implementation of projects and programmes. Sourced entirely
from the Consolidated Fund, this 2013 investment represented an increase of $31.1 million over
the previous year’s allocation, although the overall PSIP budget decreased by $114 million. In
addition to the THA’s allocation, the sum of $125.5 million was provided by several Ministries
to implement new and on-going projects and programmes which effectively increase the total
investment to Tobago to $475.5 million.
6.
The original PSIP allocation to the THA was revised upwards during the fiscal year from
$350 million to $474.9 million, resulting in a total investment to Tobago of $575.9 million
7.
Economic Growth, Job Creation, Competitiveness and Innovation account for 36.5
percent or $210 million of total revised expenditure. The THA continued its programme of
economic diversification through entrepreneurial development with an infusion of funds in the
Industrial Estate via the Enterprise Development Company (EDC). Other programmes receiving
major funding were the roads and bridges programme and the road infrastructure improvement
programme of Tobago.
8.
Also given priority with $141.2 million or 24.5 percent of revised expenditure were
Health Care Services and Hospitals, representing the second highest level of investment. Major
funds were spent on the refurbishment and upgrade at Shaw Park Regional Recreation Ground
and Cultural Complex which supports the drive to encourage sports and recreation for healthy
lifestyles. Also, a large quantum of expenditure was recorded for decommissioning the old
Scarborough Hospital and the commissioning of the new hospital, also located in Scarborough.
9.
Poverty Reduction and Human Capital Development expended $132.6 million or 23
percent of the revised budget, with major spending on the Scarborough Library. Other
programmes utilising funds under this Strategic Priority were the Construction and Upgrading of
