bourse report

This week, we at Bourse begin an analysis of several economic trends and consider what investors and the wider public might expect in the upcoming national budget carded for October 7. In the first of a series of articles, we consider the revenue side of the budget equation. Will economic growth remain muted, or will it accelerate? Will energy revenues be higher or lower than projected and how might this impact fiscal decisions for FY 2019/2020? We discuss below.

GDP growth on the rebound According to the Ministry of Finance, real GDP Growth recovered in 2018, measuring 1.9% year-on-year (YoY) in contrast to the contractions of 6.5% and 1.9% recorded in 2016 and 2017, respectively. Based on the most recent estimates of the World Bank (WB) and the International Monetary Fund (IMF), growth is expected to be relatively muted in 2019, but consistently improve by 2021 (WB: h1.7%, IMF: h2.1%).

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A POLITICAL fight has broken out between Opposition Leader Kamla Persad-Bissessar and Finance Minister Colm Imbert over the sale of CLICO/BAT traditional insurance portfolios.

FINANCE Minister Colm Imbert said the Board of Inland Revenue targeted the “big taxpayers” in the recent tax amnesty, which netted $2.38 billion for the Government’s coffers, over than four times more than was predicted.

US-based travel and hospitality conglomerate, Apple Leisure Group, has been chosen to run Tobago’s 198-room Magdalena Grand Beach and Golf Resort. Finance Minister Colm Imbert revealed yesterday that Apple Leisure was chosen from among a few foreign hotel operators.

IN PRESENTING the 2020 budget on Monday, Finance Minister Colm Imbert indicated that T&T was reaching the end of the ten-year road called CLICO, the insurance company that collapsed at the end of January 2009.

FOUR YEARS after Compass Café opened its flagship store at 142-82 Rockaway Blvd, New York, USA, Compass Café TT opened its doors promptly at 10 a.m. on Saturday at 1047 SS Erin Road, Debe.