Energy Prices, Pandemic Recovery Will Drive Trinidad & Tobago To Strongest Growth Since 2006
- Fitch Solutions has revised its forecast for Trinidad & Tobago’s (T&T) real GDP growth up to 5.3% in 2021, from 4.8% previously and an estimated -6.5% in 2020.
- The agency’s revision is driven by an improving export outlook, as the global deployment of COVID-19 vaccines boosts energy prices, as well as the limited spread of the virus within T&T, which will permit the gradual normalization of economic activities.
- However, risks to the agency’s forecast are skewed to the downside, as the country’s slow vaccination timeline leaves the country vulnerable to a surge in domestic COVID-19 cases that would slow the rebound in domestic activity, while the spread of more contagious virus strains could undermine global energy demand.
(Source: Fitch Solutions)