Finance Minister Davendranath Tancoo says his upcoming national budget will continue to prioritise improving the lives and livelihoods of citizens despite difficult revenue conditions in the country.He spoke to reporters yesterday following a ribbon-cutting ceremony outside the new Pennywise Plaza Trincity.Asked about expectations for his second budget presentation since taking office, Tancoo said the Government remained committed to ­improving the standard of living while managing constrained revenues.“I’m looking to try to improve the conditions of life and livelihoods in Trinidad and Tobago in difficult revenue circumstances.“But I assure you, we’re going to continue in the same way we contributed in my first budget, which we focused the attention on improving the quality of life and stability of people, even despite our constraints,” Tancoo stated.He did not indicate what new measures would be included in the budget, but said the administration’s approach would remain centred on supporting citizens while steering the country through challenging economic conditions.Tancoo also pointed to the opening of Pennywise’s 11th branch as evidence that the private sector had confidence in both the economy and Government’s policies.He said the investment sent a positive signal to the wider business community that economic conditions were beginning to improve, although he acknowledged there was still work to be done.“The opening of this store here, Pennywise, is a signal to the rest of the country that there is confidence in the economy of Trinidad and Tobago.“There is confidence in the policies of the Government and that things are starting to look much, much better. We are not where we want to be as yet, but we are getting there.“I think it is a substantial demonstration by the business community of confidence in the economy.”Contractionof the economyover the past decadeTancoo also defended Government’s management of the economy, arguing that it inherited difficult fiscal and economic circumstances after taking office.He maintained that the previous administration’s policy decisions contributed to a contraction of the economy over the past decade, while leaving the country with significant borrowing and spending that failed to improve citizens’ quality of life.According to Tancoo, the Government is now focused on rebuilding the economy through policy reforms, strengthening institutions and restoring confidence among investors and the business community.He also said international credit rating agencies had begun taking a more favourable view of Trinidad and Tobago’s economic prospects, adding that the Government had stemmed the country’s economic decline and was now looking towards sustained growth and development.Asked for an update concerning the landlord surcharge, Tancoo said he would provide a substantial explanation during the budget presentation.Last October’s $59.2 billion budget had a fiscal deficit of $3.865 billion and was based on an oil price of US$73.25 per barrel and gas price of US 4.25 per mmbtu.