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More reactions pour in on 2014-2015 National Budget

by | Sep 10, 2014

NEWS GRAPHIC 10The Chamber of Industry and Commerce hosted the post budget forum yesterday.

One of the speakers, Chairman of the Unit Trust Corporation of Trinidad and Tobago and former Finance Minister Wendell Mottley, revealed that he believed there were numerous signs that affected Trinidad and Tobago’s economy positively in light of Monday’s budget presentation.

Referencing many international markings and ratings the former Finance minister claimed that T&T could enjoy some economic growth however he warned that there were several external factors that could affect that growth.

One of those conditions is the development of shale gas in the United States.

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Mottley claimed that this development created a variable which should encourage the country to rethink its approach in a gas paced economy.

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He disclosed that the country should also be mindful of the state of Venezuela’s economy.

The South American country has been closely tied with the economic stability of other Caribbean islands, because of the Petro Caribe subsidy.

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Minister of Finance Larry Howai has acknowledged Mr. Mottley’s concerns and he revealed that the government has been paying attention to the issues.

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He also disclosed there could be several advantages to be had.

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He also stated that social programs remained very important in the count y’s development and there appeared to be an alarming drop off number in the country’s education system.

He said this in response to statements by the Trinidad and Tobago Chamber of Industry and Commerce about the growing number of social programs in the country.

He explained that some students become unaccounted for between the end of Primary school to the end of Secondary school.

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He revealed that these programs create a challenge for the government as they have to find a proper balance to provide jobs as well.

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