Prime Minister, Dr Keith Rowley, says the Government has managed to treat with the country’s economic difficulties with success.
Speaking at a post-budget press conference at the Parliament Building on Monday, Dr Rowley revealed that Petrotrin has experienced a significant fall in production so that even if the price of oil turned around there would be no significant increase in revenue.
He added that the Government dealt with short-term loans that it inherited when it took office; dividends of the NGC had been drawn down; the NGC itself had gone into a negative position and the need to renegotiate a Gas price based on the failing oil prices was also a critical issue.
He said that the problems while difficult to treat with was effectively handled with as is evidenced by the 2018/2019 fiscal presentation.
Prime Minister Rowley disclosed that the Government settled the Pt Lisas Industries issue and a return to stability finally became a reality as opposed to shutting down plants and being concerned that companies would leave Trinidad and Tobago.
He said that when the Government looked at the gas reserves in this country it saw the need to look outside our borders.
Dr Rowley divulged that this meant that the ruling administration had adequately arrested the progressive financial haemorrhaging throughout the years.