economy

Gas hike hits fishermen hard

Faced with a $1 in­crease per litre in the price of Su­per un­lead­ed fu­el, fish­er­men from South Trinidad are call­ing on the Gov­ern­ment to es­tab­lish an out­let so they can pur­chase reg­u­lar fu­el at a cheap­er price.

Reg­u­lar fu­el is a low­er grade of fu­el com­pared to su­per un­lead­ed and pre­mi­um un­lead­ed. How­ev­er, on­ly two out­lets in San­ta Flo­ra and Care­nage sell reg­u­lar fu­el and since the price in­crease, fish­er­men say they can no longer af­ford to buy Su­per gas.

Central Bank Governor: Don’t worry about foreign reserves

Although T&T used up half of a billion dollars of foreign reserves over the past six months and is likely to use more for the rest of the year, the country should not be worried, Central Bank Governor Alvin Hilaire said yesterday.

Government revenue up by $4.2 billion

The deficit incurred by Central Government in the first seven months of fiscal year (FY) 2017/18 was $2,909.8 million, down from the $8,991.1 million in the corresponding period a earlier.

According to the latest Monetary Policy Report from the Central Bank, the smaller deficit, was financed by borrowing primarily on the domestic capital market, some external multilateral loans and the use of the Central Bank overdraft facility.

As a result, the non-energy fiscal deficit fell to $9,233.2 million from a deficit of $12,263.6 million one year ago.

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