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Trinidad and Tobago is experiencing an energy boom stronger than the ones in 1970s and 1980s. The main fiscal policy challenge is to ensure that the increased revenues from the ultimately exhaustible resources are used in a way that protects the competitiveness of the nonenergy sector, builds assets to ensure intergenerational equity, and provides a cushion for stabilization. This paper derives estimates of a sustainable level of primary fiscal balance using Friedman's permanent income hypothesis. These estimates can be used as a guide for the formulation of medium- and long-term fiscal policy frameworks.

Electronic books. -- local. --- Fiscal policy -- Trinidad and Tobago. --- Petroleum industry and trade -- Trinidad and Tobago. --- Investments: Energy --- Macroeconomics --- Public Finance --- Industries: Energy --- Energy and the Macroeconomy --- Energy: General --- Fiscal Policy --- Hydrocarbon Resources --- Macroeconomics: Consumption --- Saving --- Wealth --- Petroleum, oil & gas industries --- Investment & securities --- Energy sector --- Oil --- Fiscal policy --- Natural gas sector --- Government consumption --- Economic sectors --- Commodities --- National accounts --- Energy industries --- Petroleum industry and trade --- Gas industry --- Consumption --- Economics --- Trinidad and Tobago