What is the PNM's plan for the economy?

[EFFECTIC DESIGNS]

Tabanca...

ZR want back dem UNC thieves

We know this and we know they are the biggest thieves but ask yourself this what do you want to live with in your very short time on this earth where nothing else is going to matter when you dead and gone.

Thieves who will take the whole cake but give you a small but good enough slice or not so big thieves who not gonna thief the whole cake but you getting 0 slice? Thats what it comes down to right now and right now UNC would have been better. Why? because at the rate these muffler bearings going when PNM done with we, half this country go be living in a latrine. Half of the things they doing is out of spite and wickedness and it don't take a rocket scientist to see that. They want us to know we had it too nice and we should now have to work hard like other poor countries. Never mind that it not affecting any of them since they all living the big shot life they don't even have to pay tax on cars.

[j.o.e]

Yes this is all out of spite ...... Lol allyuh real dotish yes.

[sMASH]

Spite better than incompetence

[Gladiator]

In this budget PNM financiers well taken care of.

Citizens are now paying 7% more for US while PNM financiers have all the free access to US.

Plus ppl will buy their Rangers as it is now cheaper than a 2l.

RORO getting more squeeze for US. ANSA are the real owners of Trin.

I am puzzled as to how all of the above makes sense ...
How are Range rovers cheaper? They do not make hybrid vehicles which is the only type of vehicle to see a price drop. The prices will actually go up as the US dollar rises ...
The us dollar allocation system via the central bank is not set up the favour PNM financiers.
Everyone is getting the squeeze for US not just RORO people and may I add this has been happening under the PP. Also Ansa even though its a large conglomerate are not the owners of Trinidad.

Oh wait just realized im responding to a ZR post .. forget everything i just said ...

Word is that next up is ANSA acquiring NGC and WASA

[York]

Repsol buying NGC offshore platforms Teak and Poui. Done deal. NGC needs to cut all the excess personnel fat with fat salaries.

[zoom rader]

Tabanca...

ZR want back dem UNC thieves

What did UNC theif?

Any one make Jail?

Seems to me that citizens under this government are they ones that are being robbed to give to PNM financiers.

What are citizens getting in return for all this tax money they have to fork out?

[rookie]

Folks stop RACE card and wake up it's happening all around us if PNM didn't do it UNC would have see how quick the bill passed its a business spend wisely

http://www.bloomberg.com/news/articles/ ... fect-aug-1

[rookie]

U.A.E. Removes Fuel Subsidy as Oil Drop Hurts Arab Economies

The United Arab Emirates, the third-biggest OPEC producer, will link gasoline and diesel prices to global oil markets starting next month, becoming the first country in the oil-rich Persian Gulf to remove transport fuel subsidies.

Fuel prices will be deregulated as of Aug. 1, the Ministry of Energy said in a statement on Wednesday. Diesel prices will also be linked to global markets, and are initially expected to decline, it said. Prices for both fuels will be announced on the 28th day of each month, the ministry said.

Gasoline is now subsidized in the U.A.E., the second-biggest Arab economy and home to about 6 percent of the world’s oil reserves. Unleaded gasoline 98 octane in the U.A.E. sells for 1.83 dirhams (50 cents) a liter, according to prices on the ministry’s website. The U.S. price of premium unleaded gasoline is $3.18 a gallon, or 84 cents a liter, according to AAA, the biggest U.S. auto group. That compares with 16 cents in Saudi Arabia, the largest OPEC producer.

“There was no reason to subsidize in a country that is as rich as the U.A.E.,” said Nasser Saidi, former chief economist at Dubai International Financial Centre and head of Nasser Saidi and Associates. “All manufacturing and industry which is highly energy intensive will need to adjust. People will now have to think twice before buying gas guzzling cars.”

Subsidies Cost

Persian Gulf members of the Organization of Petroleum Exporting Countries provide some the largest per capita energy subsidies in the world, according to the International Monetary Fund. Subsidies have cost U.A.E. state-owned energy companies about $1 billion a year over the last decade, Suhail Al Mazrouei, the U.A.E. energy minister, said in February.

The U.A.E., which doesn’t impose income tax or measures such as value-added taxes, comprises seven sheikhdoms including Abu Dhabi and Dubai, the Persian Gulf business hub. Expatriates comprise about 80 percent of the country’s residents.

The change is part of the government’s plan “in diversifying sources of income, strengthening the economy and increasing its competitiveness in addition to building a strong economy that is not dependent on government subsidies,” Al Mazrouei said in the statement. A committee will review fuel prices every month, according to the statement.

Global oil prices have dropped almost 50 percent in the past year to $56.57 a barrel today as increased production from the Middle East to the U.S. swelled supplies, leaving a global surplus. The 2015 break-even crude price for the U.A.E. is about $65.50 a barrel, according to Deutsche Bank AG estimates.

“Moving to international prices is a very rational and a correct policy to undertake at this moment because the international oil prices are very low,” Saidi said.

Budget Deficit

Energy subsidies will reach $5.3 trillion this year, with the U.A.E. at $29 billion and Saudi Arabia at $106.6 billion, according to an International Monetary Fund report in May. Qatar has the world’s biggest subsidies per capita at $5,995, compared with the U.S. at $2,177 and China at $1,652.

“Low international energy prices have opened a window of opportunity for countries to move toward more efficient pricing of energy,” the IMF said. “A gradual approach may be desirable, given the size of the required price increases.”

Saudi Arabia uses fuel and power subsidies to transfer oil wealth to citizens, and the kingdom is expected to post a budget deficit equal to 20 percent of economic output this year, the IMF said last month. Cutting them is politically sensitive after domestic discontent led to the overturning of governments in Tunisia, Libya and Egypt since 2011.

The oil and gas sector in the U.A.E. contributed 34.3 percent of its gross domestic product at current prices in 2014, according to the National Bureau of Statistics. With lower oil prices, the U.A.E. will have a fiscal budget deficit for the first time since 2009, according to the IMF.

“They have to finance the fiscal deficit and this is one small way to do that,” said Sanyalak Manibhandu, head of research at NBAD Securities LLC in Abu Dhabi.

Before it's here, it's on the Bloomberg Terminal.

[zoom rader]

UAE is to blame for their own greed that backfired for them which sent the world in termol

[Allergic2BunnyEars]

UAE is to blame for their own greed that backfired for them which sent the world in termol

Excellent analysis LOL LOL LOL LOL

[Morpheus]

Termol yes

[ingalook]

I've been seeing many pics on Facebook with that quote.
It is wrongly used.

We don't have a nation trying to get more prosperous, we just have government ministers using the easiest way to get more cash in their hands.

The government's supporters erroneously believe that all this austerity will result in the country becoming more prosperous - it was not a misuse of the quote

[drchaos]

I dout anyone talking about prosperity ... They trying to keep their heads above water.

[zoom rader]

I've been seeing many pics on Facebook with that quote.
It is wrongly used.

We don't have a nation trying to get more prosperous, we just have government ministers using the easiest way to get more cash in their hands.

The government's supporters erroneously believe that all this austerity will result in the country becoming more prosperous - it was not a misuse of the quote

Really?

More taxes being paid and its the same chitty service with little benefits in return for citizens.

The only winners are the ppl that funded the PNM

[BRZ]

Tabanca...

ZR want back dem UNC thieves

What did UNC theif?

Any one make Jail?

Seems to me that citizens under this government are they ones that are being robbed to give to PNM financiers.

What are citizens getting in return for all this tax money they have to fork out?

You stupid dotish old arsehole, it's all thanks to your previous government that Trinidad is in this position, they are the ones who are sitting nice with all the country's forex .

[BRZ]

I've been seeing many pics on Facebook with that quote.
It is wrongly used.

We don't have a nation trying to get more prosperous, we just have government ministers using the easiest way to get more cash in their hands.

The government's supporters erroneously believe that all this austerity will result in the country becoming more prosperous - it was not a misuse of the quote

Really?

More taxes being paid and its the same chitty service with little benefits in return for citizens.

The only winners are the ppl that funded the PNM

Same sheit different government you FOOL, the only ones who profited for the years the UNC were in power were " their people", everyone else was getting shaft while UNC families and friends raped the crap out of trinidads tax payers monies.

[zoom rader]

Tabanca...

ZR want back dem UNC thieves

What did UNC theif?

Any one make Jail?

Seems to me that citizens under this government are they ones that are being robbed to give to PNM financiers.

What are citizens getting in return for all this tax money they have to fork out?

You stupid dotish old arsehole, it's all thanks to your previous government that Trinidad is in this position, they are the ones who are sitting nice with all the country's forex .

I guess the past non PNM governments control world oil and steel prices

[zoom rader]

I've been seeing many pics on Facebook with that quote.
It is wrongly used.

We don't have a nation trying to get more prosperous, we just have government ministers using the easiest way to get more cash in their hands.

The government's supporters erroneously believe that all this austerity will result in the country becoming more prosperous - it was not a misuse of the quote

Really?

More taxes being paid and its the same chitty service with little benefits in return for citizens.

The only winners are the ppl that funded the PNM

Same sheit different government you FOOL, the only ones who profited for the years the UNC were in power were " their people", everyone else was getting shaft while UNC families and friends raped the crap out of trinidads tax payers monies.

Explain who was getting shaft ?

[drchaos]

Lol at everyone who beating up with nonsense that the UNC/PP empty the treasury ... Everyone crying bout what the tanty Kams do ... Allu memory fickle, what tanty kams did was the same thing that Uncle Patos did. They both screwed us royally so please stop with this nonsense about only the UNC is thief, cause you just making yourself look like you have the memory of a goldfish.

Just remember that alot of the same jokers from Manning administration carried over to this new PNM regime including rowley. Well one less, Marlene gone.

[bluestarz9]

I election come again tomorrow what will happen ?

[drchaos]

Same result as the last ... people need about 3 years to forget what the last administration did, also it will take them that same 3 years to realize how badly the current gov shafting them and trust me the shafting already start ... that first budget was all about lubing up.

[sMASH]

Imagine, u have a deck of cards, and u remove all cards except the jacks. Then u ask someone to pull a card. Which a card will u get?

Same thing with trini elections: is either red or some other color, but is still a jack.

[pete]

What should the UNC have done? Saved and saved for the PNM to have money to spend now? Would just letting the country remain stagnant and not starting and finishing their projects have won them the last election?

[j.o.e]

What should the UNC have done? Saved and saved for the PNM to have money to spend now? Would just letting the country remain stagnant and not starting and finishing their projects have won them the last election?

Saved and saved for the PNM to have money to spend? ...... Lawd fadda help us all didn't know governance was a sport

[pete]

Then you clearly haven't been paying attention

[shogun]

What should the UNC have done? Saved and saved for the PNM to have money to spend now?

Well yes...

What chupidity, I really reading in these cheds?

Allyuh reading this chit before hitting "Submit?"

[sMASH]

What should the UNC have done? Saved and saved for the PNM to have money to spend now?

Well yes...

What chupidity, I really reading in these cheds?

Allyuh reading this chit before hitting "Submit?"

He isn't justifying he actions or intentions of the UNC. He is sarcastically pointing out how petty the gate keepers to our resources are.

[De Dragon]

GOVERNMENT SAID THEY WERE BRINGING RAPID RAIL IN THE LAST BUDGET IN OCTOBER!!!!!!!!!!! I didn't predict that in January!

Firstly, lower your caps.

The govt said, even before Sept 7 that they would invite IDB and would only proceed if they approve.

You really special yes! I invite a BANK, to come and charge ME for a feasibility study to determine if I should borrow BILLIONS of dollars, guaranteed by ME with MILLIONS in interest for THEM? What is the answer going to be? I forget that the planet that you reside on banks lend out of the goodness of their hearts..............

[pete]

What should the UNC have done? Saved and saved for the PNM to have money to spend now?

Well yes...

What chupidity, I really reading in these cheds?

Allyuh reading this chit before hitting "Submit?"

He isn't justifying he actions or intentions of the UNC. He is sarcastically pointing out how petty the gate keepers to our resources are.

Exactly. The whole system is flawed.

Maybe if they knew they would be able to stay in power for longer they would have operated a little different. The thing is they undertook all they did and spent all they did to try to do just that.

It ended up biting us in the ass now that the price of our major export has plummeted but if oil had stayed at 70/barrel then we wouldn't be faced with these measures being put in place now.

[De Dragon]

What should the UNC have done? Saved and saved for the PNM to have money to spend now?

Well yes...

What chupidity, I really reading in these cheds?

Allyuh reading this chit before hitting "Submit?"

He isn't justifying he actions or intentions of the UNC. He is sarcastically pointing out how petty the gate keepers to our resources are.

Like pete hit ah nerve or what? How men rush een so? Something land in ollour garden?