the NDS major guiding principles inclusiveness and openness Successful

The nds major guiding principles inclusiveness and

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the NDS’ major guiding principles — inclusiveness and openness. Successful implementation of the strategic initiatives for achieving the Vision 2030 goals will require emphasis on performance and measuring results. 09-10 V I S I O N 2 0 3 0 N AT I O N A L D E V E L O P M E N T S T R AT E GY 2 0 1 6 - 2 0 3 0 Introduction
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O V E R V I E W Introduction Socio-Economic and Environmental Performance 2004-2016 Effectiveness of Development Policies Lessons from Vision 2020 Cultural Factors Future Trends Global Developments The World In 2030 National Challenges C H A P T E R 2 Reviewing Performance & Looking to the Future
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P H O T O : C H R I S T E L M O H A M M E D 11-12 V I S I O N 2 0 3 0 N AT I O N A L D E V E L O P M E N T S T R AT E GY 2 0 1 6 - 2 0 3 0 Reviewing Performance and Looking to the Future IN PREPARING the National Development Strategy 2016-2030, cognizance was taken of: (a) recent economic performance and the current state of the economy, society and institutions; (b) the effec- tiveness of past development policies, including Vision 2020; and (c) the development challenges and the possible future trends which are expected to shape the local, regional and global landscape over the next fifteen years to 2030. Included in the analysis is the pivotal role that our values, attitudes and behaviours must play, if we are to truly advance as a nation and create a high quality of life and stan- dard of living for the benefit of all. This Chapter reviews the period 2004-2016 and seeks to determine the development gap that must be filled if we are to achieve our national vision and details and analyses the three points identified above but also the lessons learnt from past development efforts, including Vision 2020.
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Socio-Economic and Environmental Performance 2 0 0 4 - 2 0 1 6 BASED ON MACROECONOMIC INDICATORS such as GDP per capita and unemployment, Trinidad and Tobago has performed rel- atively well, when compared to other similarly placed countries such as Bahrain. However, since fiscal 2009, the economy has recorded eight (8) consecutive budget deficits despite favourable commod- ity prices and revenue collections over the period 2010-2014. More- over, due to the dramatic fall in energy prices in 2014 and the effects of lower production, government’s 2015/2016 energy revenues declined by approximately $12 billion from the previous year. Throughout the period the exchange rate has remained stable, with minor depreciations of the USD selling rates. However, in 2016, the Trinidad and Tobago dollar depreciated 4.4 percent year on year and is expected to depreciate further. In terms of the availability of foreign exchange, the shortfall in the foreign exchange market has doubled from US$600 million in 2003 to US$1.2 billion in 2013 and widened to ~12B 8 Decline in government’s 2015/2016 energy revenues from the previous year Consecutive budget deficits since fiscal 2009
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US$1.431 billion in 2014 and US$2.441 billion in 2015.
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