Key Macroeconomic indicators

• Real GDP projected at minus 0.9% for 2009 and positive 2% next year
• Inflation currently at 5.9%
• Expenditure is based on an oil price of US$55 per barrel and gas price of US$ 2.75 per MCF
• Total Expenditure for the fiscal year 2009 is $46,403 million. Expenditure for 2010 is expected to measure $44,366 million, with the fiscal deficit projected to reach $7,702.6 million or 5.3 percent of GDP

• $1,470.5 million – Recurrent expenditure
• $301 million – Regular development programme
• $497.1 million – Heads of Expenditure
• Construction of a 5 million gallon desalination plant
• Completion of Tobago’s new electricity generation plant in collaboration with T&TEC at a cost of $600 million
• Completion of the $1 billion natural gas pipeline to Tobago and the $350 million natural gas processing facilities at cove in collaboration with NGC
• Extension of the Claude Noel Highway to Charlotteville on a phased basis
• Expansion of the Tobago Venture Capital Fund to promote private sector investment

Energy

• New fiscal incentive regime with the aim of introducing a single-regime Supplemental Petroleum Tax to govern all licenses and sub-licenses
• Government plans to offer Six blocks in the shallow-water competitive bid round
• The rollout of the Production Sharing Contracts for use in the bid round scheduled to commence in first quarter 2010
• Deep water blocks to be offered for bidding in 3rd quarter 2010
• Increase the number of service stations retailing Compressed Natural Gas throughout the country.

• Construction of 50 Early Childhood Care and Education (ECCE) centers to be completed. Construction to start on 50 more ECCE centers, 15 primary schools and 12 secondary schools.
• Literacy plan to be introduced at the primary level and in Forms 1-3 at the secondary level.
• Investment to continue in the Government Assistance for Tuition Expenses (GATE), Higher Education Loan Programme (HELP), Helping You Prepare for Employment (HYPE), On-the –Job Training (OJT) and the Multi-sector Skills Training (MuST) programmes.

• Sexual and Reproductive Health (SRH) programmes to be incorporated into to the curricula at all levels of education.
• Completion of the Point Fortin, Arima, Sangre Grande and Scarborough hospitals to take place on a phased basis.
• Improved health information management through the computerization of medical records continues under the National Health Information System. This facility to be accessible at all public health care facilities by 2012.

• Deliver 8000 units and initiate 2000 housing starts in 2010
• Increase value of houses eligible for preferential mortgage rate from $450,000 to $850,000
• Under the Beneficiary Owned Land Programme individuals with qualifying income can receive subsidies up to $50,000 to build houses
• Government to absorb all legal fees attached to the purchase of any HDC housing unit

• Agricultural access roads will be built through private sector initiative between the Agricultural Society of Trinidad & Tobago (ASTT) and the Estate Management & Business Development Company (EMBD)
• Increase the number of farmers’ market and packaging houses
• Accelerate the land regularization process at the EMBD
• $75 million to be allocated to Agriculture Development Bank (ADB) with a further $75 million to be made available if needed
• Agriculture Ranger Squad to provide 24 hour policing in designated areas

• Flyover to be constructed at Aranguez, allowing the removal of traffic lights at Aranguez and El Socorro on the Churchill Roosevelt Highway (CRH).
• Completion of 3rd lane on Uriah Butler Highway (UBH) going south to Chaguanas and on the CRH going east to Piarco. Expansion work also to take place on the Diego Martin Highway, South Trunk Road and CRH from O’Meara to Santa Rosa
• Rapid Rail Transit System currently at planning stage, with the decision on costing and scope of works of the project to be made in 2010.
• Construction to start on:
• Extension of Solomon Hochoy Highway (SHH) from San Fernando to Point Fortin.
• New highway from San Fernando to Mayaro
• Extension of CRH from Wallerfield to Manzanilla
• Causeway from Mucurapo to Chaguaramas.

• Expand value of public sector contracts accessible to the Small And Micro Enterprises from $1 million to $5 million
• Increased traffic penalties including exceeding the speed limit from $200 to $1000 and illegal tints and use of the Priority Bus Route from $200 to $2000
• Increase The Motor Vehicle Transfer Tax by 50 percent
• Increase excise duty on locally manufactured alcohol by 15 percent. Duty on alcohol imported from Common Market will increase by 15 percent, while duty extra-regional alcohol imports will increase by 30 percent.
• Excise and import duty on tobacco will increase by 15 percent