Trinidad and Tobago: 2018 Article IV Consultation-Press Release and Staff Report
IMF Staff Country Reports, September 25, 2018
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- Trinidad and Tobago: 2018 Article IV Consultation-Press Release and Staff Report
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Bibliographic details
- Published: September 25, 2018
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781484378120.002
Summary findings and near-term outlook
- The economy is slowly recovering from a deep recession.
- In the review period, the economy continued to contract but at a slower pace.
- Recovery was underpinned by the strong recovery in gas production.
- Weak activity in construction, financial services, and trade dampened non-energy sector growth.
- Continued foreign exchange shortages and slow pace of public investment also dampened non-energy sector growth.
- Positive growth is expected to return from 2018 as the recovery takes hold in both the energy and non-energy sectors.
- Economic prospects are expected to improve over the medium term, but remain heavily dependent on the energy sector.
Fiscal performance and public debt
- Good progress has been made in fiscal consolidation through spending cuts.
- Public debt continued to rise, approaching the government’s soft target of 65 percent of GDP.
Key subjects and keywords covered
- Subjects: Economic sectors, Energy pricing, Energy sector, Expenditure, Fiscal consolidation, Fiscal policy, Foreign exchange, Public debt
- Keywords: authorities' definition, authority, Caribbean, CBTT, CR, dry-docking capacity, Energy pricing, Energy sector, Fiscal consolidation, FX, FX shortage, FX-earning potential, GDP, Global, ISCR, Trinidad and Tobago authorities
Content in this bundle
- Country Report