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Trinidad and Tobago on brink of economic danger, says PM

PORT OF SPAIN, Trinidad -- Declaring that Trinidad and Tobago is on the brink of the danger zone economically, Prime Minister Dr Keith Rowley on Sunday listed a series of construction projects due to come on stream shortly that are aimed at kick starting the economy.

Rowley said the proposed initiatives would help pull Trinidad and Tobago out of its grim economic state, resulting in much needed job opportunities. He said it was the construction industry that had been proven worldwide to stimulate economic growth, the Trinidad Guardian reported.

Rowley said that Trinidad and Tobago’s debt increased by $40 billion (US$5.97 billion) over the last six years, while revenues pointed downward. The external public debt now stands at $23 billion which must be paid back in US currency, he added

Commenting on the devastation suffered by Haiti from Hurricane Matthew, Rowley also urged citizens to head to banks to donate.

"It doesn't matter how bad your circumstances, there is somebody who is worse. We talk about pressure and poverty here until you think about Haiti," he said.

Courtesy: Caribbean News Now

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