There has been a slight increase in the Public Sector Investment Programme (PSIP) allocation for the 2020/2021 fiscal year when compared to revised 2019/20 allocation according to the Ministry of Planning and Development.
It explained the original allocation of $5.387 billion for 2019/20, was revised downwards from its original allocation and some of the funds were reallocated to other areas to help the nation deal with COVID-19.
In a statement, the ministry noted that at the end of the 2019/2020 fiscal period the final allocation to the PSIP was $4,077,516,555. In the 2019 budget presentation, the Finance Minister announced the $5.387 billion allocation, which was a few months before the world and T&T felt the brunt of the COVID-19 pandemic.
“Final figures indicate that over the past five years the PSIP allocations have averaged approximately $4 billion,” the ministry added.
The ministry argued that this year’s allocation will assist with the implementation of projects to support programmes within the sectors of education, housing and shelter, health/HIV-Aids, community development, water security, roads and bridges, drainage, crime alleviation and workforce development among others.