Rising Energy Prices Will Drive Trinidad & Tobago's Economic Recovery

• Fitch Solutions expects Trinidad & Tobago’s (T&T) economy will grow 4.8% y-o-y in 2021 after declining 6.9% in 2020, driven by private consumption and rebounding energy sector exports.
• The agency has revised its 2021 real GDP forecast up from 4.4% y-o-y previously, to reflect a stronger outlook for global energy demand as COVID-19 vaccine distributions support a global economic recovery.
• However, fiscal consolidation and weak investment prospects will slow the pace of recovery, and the economy will reach pre-pandemic levels only in 2023.

(Source: Fitch Solutions)