Business
Trinidad & Tobago rating stable – Moody’s Investor services
But despite “these strengths”, Moody’s said there are concerns about Trinidad & Tobago’s growth prospects.
It warned that the economy “continues to face headwinds even after GDP contracted at an average annual rate of 1.4 percent between 2009 and 2012”.
Moody’s predicts that growth of less than 1 percent in 2012 will be followed by a “modest recovery in 2013, given a projected 2 percent increase in GDP.
“Risks to this forecast remain tilted to the downside, driven by an uneven performance in the energy sector, weak domestic demand, and poor regional growth prospects,” it said.
“The stable outlook balances the recent deterioration in fiscal and debt metrics and downside risks to growth, against significant fiscal savings, recurring current account surpluses, and a strong international reserve position,” it added. – (CMC)
