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Caribbean & Central America - October 2016 (ISSN 1741-4458)

TRINIDAD & TOBAGO: The deterioration continues

Trinidad & Tobago’s People’s National Movement (PNM) government, led by Prime Minister Keith Rowley, has been in power for just over one year. On assuming power, the government blamed its tough economic inheritance on a combination of the fiscal intemperance of the outgoing People’s Partnership (PP) administration, led by Kamla Persad-Bissessar, and the considerable external shock of collapsing oil and gas prices. It was a fair assessment; but while the new government has put an end to fiscal intemperance it has had to do so in a continuing climate of weak oil and gas prices – and thus government revenues – and the net effect has been a further deterioration in government finances.

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