Moody’s Investments has noted a narrowing fiscal deficit credited to Government of Trinidad and Tobago’s restraint and an increase in energy and non-energy tax revenue following the mid-year review.
It also projects an Energy Sector-led rebound in growth to support the fiscal trajectory.
Economist Indera Sagewan-Alli has thrown out a challenge to Finance Minister Colm Imbert to discuss what the Government is doing with regards to growth of the non-energy sector of the economy.
Her challenge follows the Minister's criticism of her and four other economists in Parliament Friday morning.
The following is Sagewan-Alli's response:
Amidst assertions by Finance Minister Colm Imbert that economic instability is over, the Greater Tunapuna Chamber of Commerce believes the worst is yet to come because of the spiralling crime rate and foreign exchange shortfalls.
In a statement, President Surindra Maharaj said Imbert failed to address three of the major issues plaguing the business community and the society when he presented the mid-year budget review in Parliament on Thursday.
Finance Minister Colm Imbert has hit out against five economists and commentators, who he says are not fair and unbiased in their pronouncements on the economy and performance of the government.
Minister Imbert took aim at Roger Hosein, Indera Sagewan-Alli, Mariano Browne, Marla Dukharan and Patrick Watson, as he was wrapping up debate on the Mid-Year Review around 1 am Friday morning.
He told the House that their commentary on the economy could not be seen as unbiased because of political and other affiliations.
President of the T&T Manufacturers’ Association (TTMA), Christopher Alcazar said manufacturers are not convinced that there is a turn around in T&T’s economy.
He added that while many manufacturers continue to push outward regionally, and are observing export growth, many are not seeing the signs of a turn around in their domestic market.
In his mid-year budget presentation, Finance Minister Colm Imbert said T&T was in a turn around as energy prices had improved along with other indicators.