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Project report on the introduction of a national level social security scheme in Trinidad and Tobago - covers legal aspects, administrative aspects, actuarial and financial aspects thereof, and includes recommendations concerning health insurance, unemployment benefit, maternity benefits, employment accident benefits, pension schemes, etc.
Project report and recommendations concerning the phased introduction of a national social security scheme in Trinidad and Tobago - covers administrative aspects, records maintenance, and contribution arrangements.
In its March 2016 Economic Bulletin, the Central Bank of T & T stated that after negative growth of 1% in 2014, T & T's economy contracted by a further 2.1% in 2015, as per provisional data. Meanwhile, government revenue fell by 6.2% in FY 2014/15, with a 35% decline in energy collections outstripping increases in non-energy and capital receipts. Nonetheless, the recessionary environment is not without opportunity for the country's new leadership. As the Government of Keith Rowley, which assumed office in September 2015, works to bring government spending under control, policies aimed at economic diversification could be set to gain further traction. Moreover, given that T & T has a safety buffer in the form of strong foreign currency reserves and a sovereign wealth fund, there is a relatively room to manoeuvre.
Provides a summary of the main findings and recommendations.
Despite its small size, Trinidad and Tobago ranks highly on a number of economic development indicators.According to estimates by the IMF, per capita income in T&T was $21,310 in 2014, the third-highest level in the Americas, after the US and Canada. Meanwhile, the World Bank categorises T&T as a high-income, non-OECD nation, while the World Economic Forum (WEF), in its reports on global competitiveness, sees T&T as an innovation-driven economy, like the US or the UK.