Thursday 24 September, 2020

Gov't urged to implement more reforms as T&T economy flat in 2019

The Government of Trinidad and Tobago is being urged to implement more reforms to stimulate the economy.

Justin Ram, Director of Economics of the Caribbean Development Bank, said Trinidad and Tobago is still dependant on oil and gas revenues, activities of which have been challenging for some time even though natural gas production increased by one percent.

Ram said manufacturing and construction have also faced severe challenges, all of which contributed to the flat economic growth the country experienced in 2019.

Ram was speaking at the CDB’s annual update in Barbados today.

According to the CDB, regional economic growth is expected to grow 4.2 percent in 2020 from one percent in 2019.

Guyana is expected to lead this growth as oil production begins this year.

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