Fiscal year runs from October 01 through September 30  Fiscal Developments As you know, fiscal policy is a principal instrument of transformation in our energybased economy.
In Trinidad and Tobago, fiscal policy influences the transformation process in several ways, but principally through: •  the level energy tax collections;  •  the level and quality of expenditure; and  4  BIS Review 21/2005  •  the overall budgetary balance and its financing. Figure 6 gives a summary of the central government operations over the past four years.