Business
S&P lowers Trinidad & Tobago credit rating – Falling oil prices blamed
It also noted that economic policy is expected to remain pragmatic after the change in government earlier this year.
“The Rowley administration – elected in September, has taken initial steps to address the fiscal problem, including raising some taxes and administered prices, reducing some spending, and plans to take further measures in its midyear fiscal review in March 2016.”
In response to the report, Finance Minister Colm Imbert says it is neither “unexpected nor surprising” given the fact that oil and natural gas prices have collapsed and. therefore, a negative outlook based on current and projected oil prices is “not unfair.” Imbert said the government is continuing to work on a package of measures to restore growth to the economy. – (CMC)
