May 2014


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In circumstances where economic growth is not so much a challenge as is economic development, one can explore the role of good governance, not only as an element through which economic growth is achieved, but also through which the gap between economic growth and development can be bridged. This is especially applicable to resource-rich countries such as Trinidad and Tobago. It can be concluded that:

  • There is a link between Good Governance and Development;
  • The elements of Good Governance—accountability, transparency and participation—are mutually reinforcing; and
  • The national budget can enhance good governance by incorporating the elements/characteristics of accountability, transparency and participation.

If Trinidad and Tobago is to bridge the gap between our resource wealth and development, then governance has to be improved significantly. One way of doing this is through refinement of the budget process to ensure greater participation, transparency and accountability.

Recognizing that as a tool for good governance, budgeting best practices should incorporate to a large extent as possible, citizen participation—including civil society and non-governmental organizations playing a role in the governance and developmental process—the Department of Economics (UWI), Trinidad And Tobago Group of Professional Associations (TTGPA), Funding and Alumni Affairs (FAA) and UWI Alumni Association Trinidad And Tobago Charter (UWIATT) are hosting pre-budget forums which are intended to account for the implementation of the first six months of the 2014 Budget, and propose strategies for addressing issues in the 2015 Budget.

The forum represents one of two pre-budget discussions which will be held on May 28 from 7-9pm at the Daaga Auditorium, UWI, St. Augustine. Speakers include: Hon. Larry Howai (Minister of Finance); Dr. Daren Conrad (Lecturer, Department of Economics); and Mrs. Donna De Costa Martinez, (Executive Director, Family Planning Association of Trinidad and Tobago). The discussion will be moderated by Dr. Ronald Ramkissoon. The second instalment of the Pre-Budget forum is the “Annual Pre- Budget Forum Breakfast with Professionals” to be held on June 25 2014.

Malini Maharaj is an Instructor in the Department of Economics. For more information on the Pre-Budget Forum on May 28, please contact Joel Jordan at the Department (662-2002, ext, 83231), and for the event on June 25, Genelle Wooding can be reached at 623-5434 events@ttgpa.org