T&T has developed a pattern of expenditure that it can longer comfortably sustain.
This is according to Dr. Ralph Balgobin President of the Trinidad and Tobago Manufacturing Association.
He said that our economy is based on a very volatile commodity however he said that a recession is an
eventuality in any economic cycle.
He made the comments on the Power Breakfast Show on power 102.1fm this morning.
He stated that the only way to address the issue before it deteriorated was to get Government, Business and
Labor to work together, a fact he said the Government was only just realizing.
He said that because of the large roll Government plays in the economy of Trinidad and Tobago and because
of this the private sector has been crowded out.
He also revealed that manufacturing was an excellent source of diversification for T&T.
President of the Trinidad and Tobago Manufacturing Association, Dr. Ralph Balgobin