Use and distribution of extractive sector revenues Roger Hosein 07/04/2014 1
Table 4: Trinidad and Tobago s Macroeconomic indicators, 1991 2011 Total reserves in months of imports (Import Cover) Gross Official Reserves ($US mn) CAB (% of GDP) GDP per capita (constant 2000 US$) 1991 1.92 357.68 0.09 5,007.59 1992 1.12 190.21 2.51 4,887.10 1993 1.53 228.18 2.47 4,778.19 1994 2.3 373.08 4.4 4,911.23 1995 1.77 379.08 5.51 5,071.29 1996 2.47 563.76 1.83 5,240.66 1997 2.36 723.24 10.69 5,354.50 1998 2.62 800.04 10.65 5,743.77 1999 3.31 962.76 0.45 5,970.33 2000 3.81 1,402.80 6.67 6,311.11 2001 5.01 1,712.70 4.71 6,544.68 2002 5.35 1,760.10 0.85 7,044.09 2003 5.89 2,007.50 8.76 8,033.10 2004 6.69 2,993.00 12.78 8,637.57 2005 8.43 4,885.70 22.49 9,242.20 2006 9.84 6,530.80 39.4 10,264.67 2007 8.72 6,673.50 24.7 10,714.74 2008 11.4 9,380.30 30.3 10,959.66 2009 11.9 8,651.60 8.5 10,555.89 2010 13.1 9,070.00 20.2 10,513.53 2011 13.5 9,822.70 12.3 10,328.73 2012 07/04/2014 (provisional) 10.4 9,200.10 5.5 10,452.67 2
GDP (constant LCU), TT$mn GDP (current LCU), TT$mn 2000 51370.56 51370.56 2001 53474 55007.2 2002 57759.2 56290 2003 66095.9 70731.5 2004 71317.47 81160.8 2005 75428.75 100682 2006 85795.4 115951.1 2007 89874.3 136952.5 2008 92922.6 175287.2 2009 88841.7 121281.3 2010 89029.2 131289.4 2011 86731.3 150373.2 2012 87810.9 153587.7 07/04/2014 3
GDP per capita (constant LCU) GDP per capita (current LCU) 1990 30781.43 17627.65 1991 31401.29 18531.5 1992 30694.87 18999.41 1993 30081.8 19714.48 1994 31006.16 23443.43 1995 32112.08 25256.63 1996 33290.2 27485.35 1997 34127.82 28453.52 1998 36724.88 30149.52 1999 38268.78 33910.27 2000 40513.7 40513.7 2001 42027.84 43232.86 2002 45204.79 44054.93 2003 51481.85 55092.5 2004 55268.63 62896.87 2005 58159.33 77630.84 2006 65820.37 88955.16 2007 68604.24 104540.7 2008 70585.8 133151.5 2009 67176.17 91704.84 2010 67035.26 98855.43 2011 65060.74 112801.2 07/04/2014 2012 65656 114837.2 4
GDP (constant 2005 US$) Total natural resources rents (% of GDP) 1970 6019.9 8.5 1975 6890.0 34.9 1980 10065.7 47.5 1981 10526.4 37.6 1982 10951.3 28.2 1983 9943.4 23.9 1984 9371.4 25.0 1985 8985.3 25.0 1986 8690.7 19.8 1987 8294.0 22.0 1988 7969.1 18.8 1989 7903.2 22.8 1990 8022.4 27.3 1991 8237.6 20.9 1992 8101.9 18.8 1993 7984.5 20.4 1994 8268.9 18.3 1995 8595.9 18.1 1996 8935.2 22.5 1997 9176.8 20.6 1998 9889.8 13.6 1999 10323.8 15.4 2000 10957.0 34.1 2001 11405.7 29.2 2002 12319.7 26.7 2003 14097.9 41.5 2004 15211.6 44.2 2005 16088.5 62.2 2006 18299.7 63.6 2007 19169.7 54.6 2008 19819.9 60.6 2009 18949.4 38.7 2010 18989.4 36.7 2011 18499.3 37.6 2012 18729.6 36.6 07/04/2014 5
Table 5: Real GDP Growth Rate of various sectors, 1996 2012 Date Petroleum Non Petroleum Petrochemic als Other Petroleum Governmen t Agriculture Constructio n Manufacturi ng Distribution Finance, Insurance & Other Services 1996 7.48 7.22 12.19 6.79 2.08 6.90 5.31 4.39 8.52 11.16 2.01 1997 0.86 11.34 5.96 0.08 0.63 13.10 0.65 7.91 18.08 22.51 1.56 1998 9.08 6.76 11.16 8.74 0.60 7.20 14.20 11.48 7.07 0.44 10.71 1999 21.50 3.38 26.46 20.68 4.34 2.30 5.99 7.18 7.98 11.71 1.37 2000 12.40 5.48 3.18 14.00 6.09 2.40 7.56 6.04 5.89 12.38 1.78 2001 5.59 2.83 6.75 5.40 1.47 8.70 10.26 9.78 2.77 0.78 2.11 2002 13.50 4.82 12.46 13.66 3.65 8.70 5.08 3.80 1.32 11.54 5.23 2003 31.40 6.70 4.50 35.50 1.00 15.30 23.40 12.20 2.00 7.30 1.70 2004 8.20 6.70 11.30 7.50 0.60 34.20 8.10 5.20 3.20 21.70 4.10 2005 8.30 5.00 19.50 n.d. 1.90 5.40 16.10 13.50 4.50 2.40 0.07 2006 21.80 6.40 15.30 22.70 1.50 10.10 6.20 13.50 15.10 1.00 5.20 2007 1.70 7.60 2.30 2.20 3.20 21.80 7.10 16.30 3.30 10.40 2.80 2008 0.30 6.50 2.80 n.d. 1.70 7.60 4.50 4.10 17.60 3.10 4.60 2009 1.80 4.90 8.70 3.10 19.10 32.40 7.10 1.90 20.40 4.50 5.60 2010 3.20 2.60 0.80 3.70 1.20 76.80 28.40 1.20 9.70 8.10 1.50 201107/04/2014 3.90 0.50 4.70 3.80 0.70 0.10 8.80 1.10 4.70 0.60 1.50 6
Table 6: Real GDP growth rate of the T&T Economy (Quarter on Quarter %) GDP Growth Rate (2000=100) Mar 05 1.61 Jun 05 1.28 Sep 05 0.99 Dec 05 3.7 Mar 06 4.32 Jun 06 4.04 Sep 06 1.2 Dec 06 1.12 Mar 07 2.79 Jun 07 1.3 Sep 07 1.51 Dec 07 3.15 Mar 08 0.83 Jun 08 0.83 Sep 08 2.67 Dec 08 2.08 Mar 09 4.56 Jun 09 0.79 Sep 09 0.45 Dec 09 5.21 Mar 10 3.42 Jun 10 2.32 Sep 10 2.32 Dec 10 0.21 Mar 11 2.58 Jun 11 1.77 Sep 11 1.69 Dec 11 0.41 Mar 12 0.1 Jun 12 1.6 Sep 12 3.08 07/04/2014 Dec 12 0.44 Mar 13 0.66 7
Table 7: Quarterly Real GDP growth of Petroleum and Non Petroleum Sector, Q2 2010 Q1 2013 Date Non Petroleum Petroleum Total Jun 10 2.31 2.33 2.32 Sep 10 2.6 1.95 2.32 Dec 10 1.52 1.54 0.21 Mar 11 3.42 1.43 2.58 Jun 11 1.08 2.69 1.77 Sep 11 0.95 5.21 1.69 Dec 11 3.31 3.7 0.41 Mar 12 3.86 6.12 0.1 Jun 12 0.35 4.29 1.6 Sep 12 3.24 2.84 3.08 Dec 12 2.19 4.26 0.44 Mar 13 3.19 6.61 0.66 Source: CBTT Database, 2013 07/04/2014 8
Rank Score 2006 2007 76 3.95 2007 2008 84 3.88 2008 2009 92 3.85 2009 2010 86 3.91 2010 2011 84 3.97 2011 2012 81 4 2012 2013 84 4.01 2013 2014 92 3.91 07/04/2014 9
1.02 Intellectual property protection... 3.3...91 1.04 Public trust in politicians... 2.2...111 1.05 Irregular payments and bribes... 3.5...95 1.07 Favoritism in decisions of government officials... 2.4...125 1.08 Wastefulness of government spending... 2.9...96 1.12 Transparency of government policymaking... 3.9...94 1.14 Business costs of crime and violence... 2.3...145 1.15 Organized crime... 4.1...120 1.16 Reliability of police services... 3.1...121 1.17 Ethical behavior of firms... 3.4...118 1.18 Strength of auditing and reporting standards... 4.2...95 1.19 Efficacy of corporate boards... 4.1...116 1.20 Protection of minority shareholders interests... 3.7...111 2.06 Available airline seat km/week, millions*... 61.4...95 3.03 Inflation, annual % change*... 9.3...129 4.05 Business impact of HIV/AIDS... 4.4...115 4.06 HIV prevalence, % adult pop.*... 1.50...122 4.07 Infant mortality, deaths/1,000 live births*... 24.5...96 4.08 Life expectancy, years*... 70.0...96 5.02 Tertiary education enrollment, gross %*... 11.5...113 6.03 Effectiveness of anti monopoly policy... 3.7...104 6.07 No. days to start a business*... 41...127 6.08 Agricultural policy costs... 3.4...113 6.10 Trade tariffs, % duty*... 10.5...111 6.13 Burden of customs procedures... 3.1...133 6.14 Imports as a percentage of GDP*... 33.3...111 6.15 Degree of customer orientation... 3.6...137 07/04/2014 10
7.01 Cooperation in labor employer relations... 3.5...134 7.02 Flexibility of wage determination... 4.5...108 7.04 Redundancy costs, weeks of salary*... 20.5...96 7.06 Pay and productivity... 3.3...123 7.10 Women in labor force, ratio to men*... 0.73...94 8.04 Ease of access to loans... 2.5...93 8.05 Venture capital availability... 2.2...111 9.07 Mobile broadband subscriptions/100 pop.*... 1.5...117 10th pillar: Market size 10.01 Domestic market size index, 1 7 (best)*... 2.4...120 10.02 Foreign market size index, 1 7 (best)*... 3.9...98 10.03 GDP (PPP$ billions)*... 26.7...103 11.03 State of cluster development... 3.5...91 11.04 Nature of competitive advantage... 3.0...114 11.05 Value chain breadth... 3.4...102 11.09 Willingness to delegate authority... 3.3...111 12th pillar: Innovation 12.01 Capacity for innovation... 2.9...123 12.02 Quality of scientific research institutions... 3.3...100 12.03 Company spending on R&D... 2.7...117 12.04 University industry collaboration in R&D... 3.2...102 12.05 Gov t procurement of advanced tech products... 2.7...130 07/04/2014 11
Shale gas Shale gas has become not only an energy exploration and production issue wherever it is or might be located, but also a macroeconomic issue for national economies, a microeconomic issue for energy intensive industry sectors, a global environmental issue for local communities, a public safety and health issue wherever there is exploration or production, and an energy independence and national security issue in countries that are dependent on oil imports and/or gas imports. 07/04/2014 12
Like labour and capital, natural resources are factors of production that serve as inputs in goods and services production. While there is a broad range of natural resources that could be discussed, the focus here will be on energy and, to a limited extent, on land and water, which are the natural resources typically included in aggregate production functions (for discussion of trade and a wider variety of natural resources, see the 2010 World Trade Report (WTO, 2010) and Ruta and Venables (2012). 07/04/2014 13
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1,140 940 740 540 340 140 60 Rapid growth in demand 1965 1966 2010 1967 1968 1969 1970 1971 1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2011 2012 Demand for Gas (BCM) Total North America Total S. & Cent. America Total Europe & Eurasia Total Middle East Total Africa Total Asia Pacific
Rapid growth in demand India is building infrastructure for importing LNG Terminal Commissioning Capacity Dahej LNG Termina 2004 5 in 2004, 10 in 2009, 15 planned for 2016 Hazira LNG Terminal 2005 10.0 million tons per annum (mmtpa) is planned, currently at 2.5 mmtpa Dabhol LNG Terminal 2014 after the construction of the breakwater (the breakwater is equipment in the water to protect ships from big waves 10.0 million tons per annum (mmtpa) Kochi LNG Terminal Q 3, 2013 5.0 mmtpa Gangavaram LNG Terminal Planned for 2016 5.0 mmtpa Source: Petronet LNG LTD, May 2013. http://www.petronetlng.com/pdf/corporate_presentation_as_on_may_2013_u 07/04/2014 16 SD_29052013.pdf
Rapid growth in demand India is building infrastructure for importing LNG India GDP (constant 2005, US$) 1600000000,000.00 1400000000,000.00 1200000000,000.00 1000000000,000.00 800000000,000.00 600000000,000.00 400000000,000.00 200000000,000.00 0.00 1961 1962 1963 1964 1965 1966 1967 1968 1969 1970 1971 1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 07/04/2014 17
Surge in production Another feature of world natural gas markets is shale gas. US shale gas deposits has been proven has risen from 23 TCF in 2007 to 60.6 TCF in 2011 to 131.616 TCF in 2011, and 665 TCF by 2013. year US Shale gas (TCF) 2007 23.304 2008 34.428 2009 60.644 2010 97.449 2011 131.616 Source: US EIA database 07/04/2014 18
Surge in production 07/04/2014 19 Source: EIA database
Surge in production Henry Hub prices 9 8 7 Axis Title 6 5 HH 4 3 2 07/04/2014 20
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Table 12: Improper use of subsidies and economic rents Transfers and Subsidies (TT$mn) Central Gov't Current Revenue Oil (TT$mns) Non Institutional Population (000's) Unemployme nt Rate (%) Real Economic growth Rate Unemploy ment (000's) 1991 1305.2 2,717.5 837.2 18.4 2.68 91.1 1992 1054.3 1,817.5 841.0 19.5 1.65 99.1 1993 1203.9 1,804.4 847.9 19.7 1.45 99.9 1994 1437.4 1,895.9 857.2 18.3 3.56 93.7 1995 1597.4 2,554.7 864.8 17.1 3.95 89.3 1996 2114.5 3,060.7 876.6 16.2 3.95 86.1 1997 1828.1 2,020.5 896.6 15.0 2.7 81.1 1998 2199.3 1,151.5 913.4 14.2 7.77 79.4 1999 2369.8 1,999.6 926.0 13.1 4.39 74.0 2000 3041.1 4,403.6 936.1 12.1 6.13 69.5 2001 3157.4 3,508.5 954.9 10.8 4.09 62.4 2002 3525.5 3,668.7 961.8 10.4 8.01 61.1 2003 4148.8 6,904.6 968.2 10.4 14.43 62.3 2004 6268.2 8,159.3 973.6 8.3 7.9 51.1 2005 8177.3 15,851.8 979.0 7.9 5.76 49.6 2006 10934.5 21,111.5 978.2 6.2 13.2 39.0 2007 13296.7 19,365.9 980.8 5.5 4.8 34.5 2008 14653.3 31,100.5 987.1 4.6 2.7 29.1 2009 15539.6 15,330.4 991.1 5.3 3.3 32.6 2010 15676.6 19,123.2 997.1 5.9 0.02 36.7 2011 19717.6 23,292.8 1,005.7 5.8 1.4 31.1 2012 19632.2 9,618.3 1,009.5 4.9 0.2 33.8 2013p 11,428.5* 23
CEPEP Table 10: Budgetary allocations to CEPEP Fiscal Year Budget Allocation (Millions) May to September 2002 $75 2003 $155 2004 $225 2005 $244 2006 $423 2007 $350 2008 $328 2009 $330 2010 $319 2011 $320 2012 $320 2013 $468 Source: Social Sector Investment Programme Reports (Various Years) 24
minimum wage imputed minimum wage real minimum wage Index of Retail Prices All Items (Jan. 03=100) 1998 7 7.0 83.4 100.0 7.0 1999 7 7.2 86.2 103.4 6.8 2000 7 7.5 89.3 107.1 6.5 2001 7 7.9 94.2 113.0 6.2 2002 7 8.2 98.1 117.7 5.9 2003 7 8.6 101.9 122.2 5.7 2004 7 8.9 105.7 126.8 5.5 2005 7 9.5 112.9 135.5 5.2 2006 9 10.3 122.3 146.8 6.1 2007 9 11.1 132.0 158.4 5.7 2008 9 12.4 147.9 177.4 5.1 2009 9 13.3 158.2 189.8 4.7 2010 9 14.7 174.9 209.8 4.3 2011 12.5 15.4 183.8 220.5 5.7 2012 12.5 16.9 200.8 240.9 5.2 2013 12.5 17.7 211.3 253.4 4.9 07/04/2014 25
Year Total Employed Labor Force Distribution of Elementary Workers by Industrial Group Total EW Agriculture (excludes sugar) Manufacturing (excludes sugar and petroleum) 1991 401085 103300 15600 7800 23600 1992 406054 102100 16500 7900 31200 1993 404634 102100 15300 6500 33000 1994 415602 107400 17600 7900 36500 1995 431608 103700 14200 8000 37400 1996 444220 108100 12800 8400 41700 1997 459876 110300 12400 9000 42000 1998 479313 112800 11900 10200 34000 1999 489351 116500 11800 9800 36400 2000 503334 115300 11000 9600 35100 2001 514126 114600 10000 9400 36000 2002 525081 115700 9100 10300 34600 2003 534153 117700 8900 10800 37100 2004 562378 124700 8400 11200 42600 2005 574025 130100 8000 11100 40100 2006 586205 127300 7600 11200 39400 2007 587892 120500 7200 9800 36700 2008 597700 121200 7700 9900 37500 2009 588300 133400 7400 10000 36300 2010 582200 125900 5900 7800 40900 2011 585346 123300 6700 7000 43000 Source: CSO, Continuous Sampling Survey of the Population (various years) 07/04/2014 26 CSP
Year Total Employme nt Figure 2: Employment Trends in selected segments of the Labor Market, 1991 2010 Employment in Community social and personal employment (CSP) Elementary Occupations in CSP Women in elementary employment jobs in the CSP sector Number of workers in CSP working less than 33 hours CSP/TOTAL employment (%) Total Elementary Occupations 1991 401085 115700 23600 12400 22600 28.8 103300 25.8 1992 406054 142000 31200 17400 48300 35.0 102100 25.1 1993 404634 143900 33000 19300 48000 35.6 102100 25.2 1994 415602 145600 36500 20200 42600 35.0 107400 25.8 1995 431608 154100 37400 20300 46800 35.7 103700 24.0 1996 444220 160800 41700 22500 46600 36.2 108100 24.3 1997 459876 163500 42000 32800 44500 35.6 110300 24.0 1998 479313 147100 34000 17400 26500 30.7 112800 23.5 1999 489351 151500 36400 18800 28400 31.0 116500 23.8 2000 503334 151400 35100 18200 28000 30.1 115300 22.9 2001 514126 154400 36000 17500 22400 30.0 114600 22.3 2002 525081 158100 34600 18300 23200 30.1 115700 22.0 2003 534153 163200 37100 20600 24600 30.6 117700 22.0 2004 562378 175300 42600 23700 22400 31.2 124700 22.2 2005 574025 176500 40100 21800 19700 30.7 130100 22.7 2006 586205 181100 39400 20400 21300 30.9 127300 21.7 2007 587892 178600 36700 20100 20400 30.4 120500 20.5 2008 597700 179500 37500 21200 19400 30.0 121200 20.3 2009 588300 182500 36300 19700 20600 31.0 133400 22.7 2010 582200 192300 40900 20900 20900 33.0 125900 21.6 2011 585346 192800 43000 18800 20200 32.9 123300 21.1 Source: Continuous Sampling Survey of the Population, various years 07/04/2014 27
Date Persons with Jobs (000's) Labour Force (000's) Unemployment (000's) Unemployment Rate (%) Participation Ratio (%) Mar 2005 567.00 623.30 56.30 9.00 63.81 Jun 2005 569.60 618.90 49.30 8.00 63.22 Sep 2005 569.40 620.10 50.60 8.20 63.29 Dec 2005 589.90 632.60 42.70 6.70 64.52 Mar 2006 582.40 625.10 42.70 6.80 63.71 Jun 2006 582.90 627.90 45.10 7.20 64.28 Sep 2006 582.60 619.50 36.80 5.90 63.40 Dec 2006 596.80 628.40 31.60 5.00 64.25 Mar 2007 575.10 615.40 40.30 6.50 62.89 Jun 2007 579.70 616.70 37.00 6.00 62.89 Sep 2007 593.30 625.90 32.60 5.20 63.76 Dec 2007 603.10 631.40 28.30 4.50 64.26 Mar 2008 588.40 620.80 32.60 5.30 63.12 Jun 2008 592.80 621.40 28.60 4.60 62.95 Sep 2008 600.80 630.70 29.90 4.70 63.83 Dec 2008 608.70 633.60 24.90 3.90 64.05 Mar 2009 598.20 630.00 31.80 5.00 63.63 Jun 2009 592.50 624.30 31.80 5.10 62.98 Sep 2009 580.20 616.10 35.90 5.80 62.14 Dec 2009 582.60 613.50 31.00 5.10 61.86 Mar 2010 573.50 614.60 41.10 6.70 61.95 Jun 2010 578.90 608.40 29.50 4.80 61.02 Sep 2010 584.30 620.80 36.60 5.90 62.17 Dec 2010 591.80 631.60 39.80 6.30 63.16 Mar 2011 n.d. n.d. n.d. n.d. n.d. Jun 2011 581.90 617.80 35.90 5.80 61.62 Sep 2011 578.00 609.50 31.50 5.20 60.56 Dec 2011 596.10 621.90 25.90 4.20 61.70 Mar 2012 589.60 623.50 33.80 5.40 61.76 Jun 2012 596.80 627.30 30.50 4.90 61.83 Sep 2012 07/04/2014 600.90 631.50 30.60 4.80 62.04 28
Date Employment in Agriculture (000's) Employment in Construction (incl.electricity & Water) (000's) Employment in Manufacturing (000's) Employment in All Other Sectors (000's) Employment in Petroleum & Gas (000's) Persons Employed Transport Storage & Comm. (000's) Mar 05 26 98.3 56.9 325.3 17.6 41.4 Jun 05 21.1 103.2 56.3 323.1 20.2 42.5 Sep 05 25.8 100.5 52.6 328.7 20.2 39.4 Dec 05 27.2 105.2 60.6 331.1 19 43.9 Mar 06 24.5 102.2 59.4 329.8 19.5 43.7 Jun 06 28.8 101.7 55.4 330.9 20.8 43.3 Sep 06 23.9 105.7 57 333.2 19.1 43.1 Dec 06 25.8 108.5 53 348.3 19.4 40.8 Mar 07 22.5 103.3 59.8 326.9 22 40.1 Jun 07 26.7 112 54.3 323.1 21.4 41.7 Sep 07 21.7 111.7 54.3 341 22.7 41.5 Dec 07 18.8 113.5 53.2 354.7 19.9 42.8 Mar 08 22.9 115.3 57 328.8 18.4 45 Jun 08 29.7 116.4 57.7 325.6 20.9 41.9 Sep 08 23.3 121.3 53.2 342.4 20.1 39.8 Dec 08 16.3 112.5 56.1 364 21.4 37.8 Mar 09 21.3 111.5 53.7 346.6 18.5 45.2 Jun 09 26.3 114.9 49.9 340.3 18.2 41.2 Sep 09 22.2 117.2 54.3 329.1 19.7 37 Dec 09 22 110 54.3 339.1 20.6 35.2 Mar 10 21.1 97.9 52.2 343.5 19 39.7 Jun 10 18.4 96.3 51.9 354.9 18.8 38.2 Sep 10 23.6 101.5 52.6 349.6 17.3 38.5 Dec 10 23 106.5 51.8 352.1 19.4 35.3 Mar 11 n.d. n.d. n.d. n.d. n.d. n.d. Jun 11 20.5 92.8 47.1 360.2 17.6 42 Sep 11 21.4 98.4 50.1 349.1 19.3 38.4 Dec 11 23.3 101.9 53.3 353 19.5 42.1 Mar 12 07/04/2014 22.2 99.5 47.3 358.4 21.2 40.3 29 Jun 12 19.5 100.6 47.2 363 20 44.1
Calendar year Table 14: Fuel Subsidy claimed on types of Fuel Premium 95 RON Super 92 RON Subsidy Claimed (TT$mn) Regular 83 RON Auto Diesel Kerosene LPG TOTAL 2007 411.87 579.43 18.97 1,144.33 17.66 38.04 2,210.30 2008 638.55 816.31 23.08 2,061.03 28.57 50.42 3,617.95 2009 (5.69) 517.73 9.05 1,000.14 12.81 65.80 1,599.84 2010 95.33 927.46 14.35 1,792.17 20.78 69.23 2,919.32 2011 236.22 1,634.21 26.30 2,407.65 34.43 74.11 4,412.93 2012 203.91 1,863.09 23.37 2,352.11 31.36 74.11 4,547.95 2013 YTD (July 2013) 23.99 1,165.29 11.93 1,331.43 16.57 48.51 2,597.71 Source: Ministry of Energy and Energy Affairs, 2013 30
Table 15: Motor Vehicles on Register Hire and Goods Tractors and Motor Total Year Private Rented Omnibus Vehicles Trailers Cycles Industrial Registered Real GDP 1991 139310 22853 288 35943 7357 2185 386 208322 30359.6 2010 372853 42 635 644 96 061 15 693 5 995 1 294 535175 89285.1 2011p 373244 42912 673 96824 15964 6106 1324 537047 88060.8 31
Introduction to the GATE Programme 2001: Dollar for Dollar programme 50% TLE Tuition Funding 2004: GATE Programme 50% Tuition Funding + Up to 100% Tuition Funding based on Means Test 2006: GATE Programme Modified 100% Universal Tuition Funding for persons wishing to pursue TLE 32
The GATE Programme One of the major goals created for the GATE programme was the attainment of a tertiary participation rate of 60% by 2015. By 2008, the tertiary participation rate within Trinidad and Tobago had increased to 40% (Trinidad and Tobago International Financial Centre). In addition to the increase in the tertiary participation rate, the introduction of the GATE Programme brought with it a mushrooming of private tertiary level institutions. 33
Table 2: Showing the Number of Participating TLIs in Trinidad and Tobago Year Number of GATE Approved Private Institutions Number of GATE Approved Public Institutions 2004 2007 31 21 2007 2009 34 16 2009 2011 37 16 2011 2013 42 16 Report of the Standing Committee on the GATE Programme (2011) 34
Expenditure on and Beneficiaries of GATE Programme Table 3: Total Expenditure $TT (Millions) Fiscal Year Private Institutions Public Institutions Number of Students Receiving GATE Funding 2004/2005 $30 $72 27,214 2005/2006 $70 $110 38,669 2006/2007 $244 $229 57,328 2007/2008 $232 $270 53,437 2008/2009 $240 $335 52,822 2009/2010 $236 $349 53,711 2010/2011 $281 $344 45,040 Report of the Standing Committee on the GATE Programme (2011) 35
Income of Households Figure 3: Effect of Dollar for Dollar on the Income of Households Pursuing TLE Y r Y m Y p 50% Fees Subsidised Y 1 d Y 0 d 0 H r H m H p Financial Need 36
Income of Households Figure 4: Additional Funding Needed by Poorest Households for TLE Y r Y UF A Y 1 d 0 H r H m H p Financial Need 37
Figure 5: Effect of Oil Windfall GATE on Income of Households Pursuing TLE Income of Households Y r G Y r B Y m A Y G d Y p Y 1 d 0 H r H m H p Financial Need 38
Table 4: Comparison of Household Expenditure and Access to GATE by Income Group of Head and Household Income Group Income Group (TT$) Average Size of % Accessing GATE Percentage Distribution Average Monthly Household by Income Funding by Income of households by Savings per household Group of Head Group of Head Household Income Group by Household Income Group All Income Groups 3.4 0.9 100.0 $1033.60 Less than 1,000 3.8 0.5 2.0 $114.10 1,000-2,999 3.1 0.2 10.4 $298.50 3,000-4,999 3.3 0.3 17.0 $292.90 5,000-6,999 3.4 1 17.2 $503.40 7,000-8,999 3.5 1.8 14.0 $767.50 9,000-10,999 3.4 4.6 11.7 $981.20 11,000-12,999 3.3 2.9 7.6 $1389.50 13,000-14,999 3.3 5.5 5.2 $1706.70 15,000-16,999 3.3 1.5 3.9 $1894.40 17,000-18,999 3.3 7.9 2.9 $2110.60 19,000-20,999 4.1 0 2.1 $2256.80 21,000-22,999 4.1 0 1.5 $3418.00 23,000-24,999 2.9 0 0.9 $3293.80 25,000 and Over 3.2 5 3.6 $5079.90 Source: Trinidad and Tobago Household Budget Survey 2008/09 *7,090 Households Participated in this Survey 39
Table 5: Percentage Distribution of Household Member by Type of Government Social Program Accessed by Household Member, Income Area and Urban/Rural Classification Income Area Urban/Rural Classificaiton Type of Government Social Programmes Accessed by Household Member All Househo lds Low Middle High Urban Rural Old Age Pension 7.1 7.1 7.2 6.7 6.7 7.6 Public Assistant 1.8 2.6 1.8 0.8 1.4 2.3 Disability Grant 1.4 1.4 1.6 1.1 1.3 1.6 TCCIP (Smart Card) 1.5 2.2 1.5 0.6 1 2.2 Gate 2.2 1.4 1.9 3.6 2.7 1.4 40
Thank you 07/04/2014 41