Kamla Persad-Bissessar says don't blame her Government for the recession

Sunday, December 6, 2015 - 20:00

Opposition Leader Kamla Persad-Bissessar says the People's Partnership Government is not to blame for the recession that this country is now in.

Persad-Bissessar posted a statement on her Facebook page this morning, saying that it is mismanagement of the current Government that has lead to this economic position.

The following is the former Prime Minister's full statement:

"The Government would want you to believe that the People’s Partnership (PP) administration is to be blamed for the recession which Trinidad and Tobago is now in.

That is not so, during the People's Partnership tenure we faced the same problem of falling oil and gas prices and did not mismanage the economy in the way the People’s National Movement (PNM) is now doing.

Job loss is occurring because of flawed PNM policies, the trend did not begin under the PP.

We had nothing to worry about once there was prudent fiscal management of the economy. It is very clear that the Government has further moved to contract the economy which places us in grave jeopardy.

We’ve seen in the Parliament..., the move by Government to increase the borrowing limit by $50 billion, in a time when the country is recording a recession, in a time when the gas prices are further falling.

The decision by OPEC (Oil Producing Exporting Countries) to continue current production levels and to not cut production means that the prices will fall even further.

There is grave cause for concern, the Government has not enunciated any plans, any programmes apart from the borrowing that they are seeking to increase. This places our dollar, which has already depreciated, for devaluation... and you already know about the forex (foreign exchange) problem in Trinidad and Tobago ….. the second matter to arise has placed us in the very jaws of the IMF. They’re not concerned about people-centred policy and programmes,”