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Trinidad and Tobago reveals 2020-21 budget highlights

Written By | Oct 7, 2020

PORT OF SPAIN, Trinidad and Tobago — Food security and vertical farming. These two public policy initiatives are making a big dent in the restructuring of the Republic of Trinidad and Tobago 2020/21 National Budget.

Readily available strategies that re-engineer national economic fortunes of Trinidad and Tobago’s revenue streams, production and development targets include Food Security planning an integral component of which Vertical Farming produces sustainable increases in output growth.

Oil and gas revenues transition greener targets enlisted across Caricom’s energy spectrum. A tidy adjustment. Macroeconomic indicators of market consumption patterns over long-run objectives including sustainable development regiments a centralized banking system enervate utilizing modern applications of futuristic banking. Agricultural commodities included.

Food Security

Food security, rightly highlighted by Mr. Imbert, Right Honorable Minister from Diego Martin includes domestic intensification branding and agricultural blending of unique commodities.  Charging highly anticipated debate between growing and consuming local advocates that oppose preservatives and our inert embodiment of global culture. Minister Imbert plans to address food security in Trinidad and Tobago’s 2020/21 budget with a $48 million dollar appropriation to the Ministry of Agriculture Land and Fisheries, including a $1 million dollar line item for the revitalization of the cocoa industry.

Vertical Farming
Vertical Farming, production scale efficiencies designed identifying plant energy production advances that increase global propagation targets. Experts say vertical farming strategies aim to significantly increase production in spite of the limits to solar radiation when plants are stacked in vertical arrays. Increasing the limited range of crops, meshed with all year round crop and higher yield production is a counterbalance to the advance in the policy development equation. 

Finance Minister Colm Imbert’s recommends 56 billion spending package

Trinidad and Tobago’s 2020/21 budget, laid a $56.7 billion dollar expenditure package, softly at parliament’s feet by Honorable Mr. Imbert sketching a path to incredible fortunes, financial security, and lively acceleration of that substantial GDP we are all searching for in high numbers. Imbert’s Ministry of Finance estimates $28 billion in tax revenue down from $32 Billion in 2019. The Value Added Tax accounts for $7 billion in this new budget. These are supplemented with $16.4 billion in financing.

Moody’s projects strong linkages with Trinidad and Tobago (TT, Ba1), given that 99% of its revenue is derived from the central government, as well as its recurring positive operating margins and balanced financial results, and its low debt levels and low levels of own-source revenue. We estimate operating results will remain positive in 2020, Mathew Walter, Asst Vice President – Analyst Sub-Sovereign Group.

University West Indies (UWI) Economist response

Fellow UWI Economist, Keron Niles. says, because Trinidad and Tobago’s 2020/21 budget enumerates the question: “How can we, as a nation, do the best to exemplify our commitment to save nature…” It provides a transition in a positive direction. Increasing the current debt to GDP ratio above 50 percent is a concern though. Especially with only a one percent increase in production.

This is not a bad transition: Targeting tight fit growth models for increasing economic shares of overall fiscal planning –not just Eco-friendly and more biologically sustainable– policies that exert the focus of government attention for the upcoming fiscal years.

Trinidad and Tobago Budget 2020 GDP Projections

Using internet search strings predicting a positive trend in future economic activity is clearly possible. While it does not create a 1 to 1 ratio with actual consumption, it indicates a pattern of consumer behaviors.

First Quarter 2020

Price and Consumption reduced one to two standard deviations from the previous Quarters peak consumption point. Positive trends still exist in data coordinates. Noting high levels of unemployment due to automation advances developed through wireless microchip technologies, allows for mass production at phenomenal rates. Increased searches for gross domestic product appear to be a new leading indicator of the shopping trend.

Second Quarter 2020

Flat consumption numbers globally, reduced energy consumption from a transit perspective most. Remote work from home programs and strict quarantine measures prevented consumption from rising to unsustainable levels. Interest in gross domestic product heaviest concentrations in South Trinidad indicates where peak activity occurs.

Auto transit hubs have strained the global health structure with congestion. Excessive carbon builds up in the respiratory system.  Combined with recycled deoxygenated air limits our energy. Carbon, defined by an atomic structure that is substantially heavier than oxygen and therefore more inert; when mixed with air, has alternating effects on the human immune system.

Other Global Examples

US Markets. According to working papers produced through economist Pedro Brinca †Joao B. Duarte ‡Miguel Faria-e-Castro estimates suggest that two-thirds of the16.24 percentage point drop in the growth rate of hours worked in April 2020 are attributable to supply. The US, world’s largest consumer, is now experimenting with new ways to anticipate changes in aggregate production.

Third Quarter 2020

Trinidad and Tobago’s 2020/21 budget considers that economic markets are expecting a greater shift in consumption. Shifts flattening overall yield curves. Reshuffling the economic agendas across the globe.

With most of Maslow’s needs catered for, the stored capacity of a large surplus economy needs a spark or sustainability-driven capitalist.  Most people are rightfully looking for employment and to a lesser extent automobiles, neither of which is required in a modern automated economy, considering that growth was implemented prior to the advent of many forms of those two elements of the global economy. Mobility and communication are changing equilibrium factors. Consumers no longer need to travel to see a movie, pick up groceries, and working virtually will change how easily people collaborate.

Addisfortune- The Largest English Weekly in Ethiopia!Witnessing the forefront of Agricultural developments in Ethiopia strategically poised to be Trinidad and Tobago’s newest seedling partner in the development of more energy-rich natural foods. Based on current production levels, estimate producing over 5000 new seedlings annually in collaboration with Ethiopia as it embarks on its latest agricultural venture Coffee College. Ethiopia bridging environment and education need increased participatory models, overarching advancements to maximize its achievements.

Fourth Quarter 2020

Added stimulus programs are effectively utilizing the transition to automation. Boosting agricultural production by 200 to 300 percent within a decade.

With complete automation of manufacturing, look for production pricing structures to open up. Even our email responses are now automated. Commodity pricing, in particular, indicates less factory overhead, less weighted cost overall. Changing other consumption variables to a constant regenerates systematically increasing with agricultural commodity production.

Expect a spike in food production as a shock in COVID-19 responses regenerate global food supplies. Agricultural methodological diversification programs, home-based agriculture increased land utilization techniques, and new markets for food transactions. Capitalization is currently on the way.

Kerry Baynes

Kerry Baynes is currently a Msc University West Indies, Financial Economics. As a research assistant for the New Jersey State Senate, he was responsible for research on economic, budget/fiscal issues, and the impact of tax policy. He served as a Media Strategist for Garry Cobb For Congress, in 2014 and Giordano for Assembly, in 2015. Since 2006, he acted as Manager of Alpha Strategy Group, an Urban Media Company. Currently an Associate at World Financial Group (WFG), he works to build and protect wealth for families and individuals from all walks of life.