Express Business Filler #1

This week, we at Bourse review some of the highlights of the fiscal year 2020 (FY2020) budget, as presented by the Minister of Finance last week Monday. We also take a look at some of the main fiscal stimulus measures mentioned and the investor opportunities which might be on the horizon. FY2019 Revenues,

Expenditure Lower Revenues for FY 2019 were estimated to be $46.56B, roughly 2.0 per cent ($941M) lower than the mid-year review projection of $47.50B. Expenditure also came in below budget at $50.50B or 3.0 per cent ($1.57B) below the mid-year $52.07B forecast. Based on these estimates, the Government’s operations would have resulted in an overall deficit of $3.95B or 2.4 per cent of Gross Domestic Product (GDP) which has been estimated at $164.6B by the Ministry of Finance. Financing of the deficit would have taken the form of $1.52B in Net External Financing and $2.43B in Net Domestic Financing.

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This week, we at Bourse review the full financial year performance ended September 2019 of banking giant NCB Financial Group Ltd (NCBFG) and half year (HY) results of Non-Banking Finance stock JMMB Group Ltd (JMMBGL). Both groups would have reported overall increased earnings.

LOCAL businesses need to come together and work with each other to market their products outside of Trinidad and Tobago. This was the call made by Christopher Boodoosingh, CEO of Cocoa Republic Ltd.

FOR THE second time this week, one of the energy multinationals operating in T&T has announced a natural gas discovery in the waters off both Tobago and Trinidad.

A DRAFT Tobago medium-term policy framework, from a team chaired by economist Dr Terrence Farrell, has recommended the establishment of up to three all-inclusive resorts as one of its key initiatives to drive Tobago’s development in the next four years.