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Prime Minister maintains that plans are in place to deal with falling oil prices

by | Jan 16, 2015

Oil-Price-FallSocial Programs will not be cut, capital infrastructure projects will continue and there will be no fire sale of state assests.

These were the comments of Prime Minister Kamla Persad- Bissesser following a meeting with business owners recently.

She also stated that there would be adjustments to the Private sector partnership.

She noted that the Government’s first approach was to identify savings of approximately $4.5 billion.

The Prime Minister said that further savings would be derived from a lower oil price generating a lower demand on Government for the petroleum subsidy, adjusted possibly to $1.7 billion.

She referred to requests by some quarters for big projects to be shut down, she stated that this would have a negative effect on the economy.

She assured that the country was not going bankrupt but rather experiencing a cash flow problem.

Prime Minister Kamla Persad- Bissesser

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