What is the PNM's plan for the economy?

[neilsingh100]

So what exactly is the #1 priority of the current government ?

Fix structural problems in the economy i.e. reduce subsidies and transfers, increase tax collection, allow exchange rate to float more freely, etc.

[drchaos]

Currency does not, has never and will never float "more" freely ... It just de-values and stays that way.

Free flotation means that the value of the TT dollar can gain and lose ground.

[TRAE]

Ministry fire like 300 people from a program... printed notices on the cheques for clients to visit the office to do the program which now has no staff...

almost one year and we moved 5 years back yes

[desifemlove]

So what exactly is the #1 priority of the current government ?

Fix structural problems in the economy i.e. reduce subsidies and transfers, increase tax collection, allow exchange rate to float more freely, etc.

so a structural problem isn't diversification? wouldn't that solve all of the issues?

[BRZ]

this coming Budget is going to be exciting................ gas prices to go Up again and US dollar going to 10 tuh 1.

[drchaos]

The venture capital show Planting seeds is doing more for diversification than the Gov.

[racedriverpro]

this coming Budget is going to be exciting................ gas prices to go Up again and US dollar going to 10 tuh 1.

Doh say that nah bai...when u say gas..plz specify

[drchaos]

Gas and Diesel will be going up another 15%.

[Morpheus]

Welcome to Premium price

[racedriverpro]

ammmm super going up alone or premium too?

[Allergic2BunnyEars]

ammmm super going up alone or premium too?

Super is still subsidized. Premium is not. If they do adjust prices upwards at pump it would be for super and/or diesel.

[racedriverpro]

^^great.. thanks

[dude2014]

To ensure that the PM has another great year flying about and letting things be done by a cabinet or more like a juice bucket size cabinet run things as always into the ground.
Sister Kamla got it Right when she said NADA. 'no habla espanyol, senor'.

And what about our step bredda that show up for emancipation? I eagerly awaiting Dilvali to see what Mother Lakshmi will deliver to the goodly gentleman ...........

DIVALI SHUBH KAMANAYE!!!!!!!!

[sMASH]

this is the lengths to which a first world government would go to stimulate the economy and foster the future. they recognize the need to keep money circulating in the local economy.
i dont think u should actually give people free money, but dont remove the discretionary income by steep taxation, don't remove the education tools that they would not be able to afford out right.

when u do that u are stifling your growth and crippling your future. unless u think one good swimmer and one good cricket team can bring in enough revenue to spread the wealth to every one.

[$h@dy]

[eliteauto]

despite all the denials from some sectors, despite all the insistence the country has money by some quarters, many of us know the realities of the current economic situation, that's why all the agitation by the Opposition amounts to nothing, ppl know better because they see it in their daily lives. What we need now is straightforward Ministers who can elucidate a clear policy for the way forward, thus far we haven't seen that and the Gov't has the country in a state of uncertainty. The policy also needs to be consistent across the various ministries as we're seeing a disconnect between what is said in Parliament and what is effected in the Ministries. This vid from Nigeria shows how a Finance Minister in a situation very similar to ours speaks to give a clear picture and policy for moving forward which gives investor confidence. Maybe we should trade Colm for her

[drchaos]

PM say get ready for some pain!
sounding like we might get a devaluation!

Prime Minister Dr Keith Rowley said yes­ter­­day the population had to brace itself for some reduction in its level of comfort and “even some pain”.



While signalling forth­coming adjustment measures, Rowley also gave the assurance there will be no pay increases for his ministers of Government. Ministers had already taken a virtual five per cent cut last year, with the decision to contribute five per cent of the salary to a charity of their choice.

Rowley spoke about the upcoming budget in an interview yesterday on TV6's Morning Edition, with host Fazeer Mohammed. He said the 2017 budget would be presented towards the end of this month.

Rowley said the country could not resist the adjustments which its economic circumstan­ces were dictating. He stressed if the country did not do it (the adjust­ment) voluntarily, it would be forced to make harsher adjustments un­der an International Monetary Fund (IMF) pro­gramme.

[sMASH]

overall, generally, its the same thing being said there, with a noticeable point being that they have to cut some salaries. in this country, they raising taxes and cutting back on social systems, gate, cdap, school books etc. all in all, is tighten your belt, and gears up to look for a wuk.

[kjaglal76v2]

I confused, economics experts from oxford university predicted that things would be better in 2017

[Dizzy28]

overall, generally, its the same thing being said there, with a noticeable point being that they have to cut some salaries. in this country, they raising taxes and cutting back on social systems, gate, cdap, school books etc. all in all, is tighten your belt, and gears up to look for a wuk.

Whose salaries got cut??

[daas]

I confused, economics experts from oxford university predicted that things would be better in 2017

Well our experts graduated from Banana University

[Redman]

I confused, economics experts from oxford university predicted that things would be better in 2017

Well the reality is that the predictions are wrong or so many caveats are included that they meaning less.


The reality is that any TT govts ability to 'perform' is based on Oil/Gas revenues.

With oil at 100 any thing could happen cuz you have cash flow....40% of that? ....not so much.

While all the pundits talking ...and sychophants sychophanting we are ignoring the facts that much of the current revenue streams are constrained by agreements entered into by the previous govt.....

Looking at the Hway and Beetham Waste water plant....and many others ...we are confronted with the spectres of a GOVT whose intent seemed to be to defraud the PEOPLE of revenue.

Think about it-this is the cabinet that paid Jr 6M to pull the fire truck.

Tell me they didnt know....

you in Cabinet...you cant 'not know'

What do we as a people SEE if we look beyond the UNC/PNM sheiit and look at the construct of the contracts,the timing of their execution and the terms and payments agreed to??
All legal and airtight....but immoral(or AMORAL) as fack.
All wrapped in NDAs

I see that the last ministers used their authority to transfer wealth and commit future GORTT revenues to their people and themselves....

Anyone with experience knows that some times just to survive is enough.
A plan is great-but factually there isnt any difference between PNM/UNC in either
Economic Philosophy
Fiscal Policy direction

historically its ALL been based on WTI/Henry Hub.

[eliteauto]

I confused, economics experts from oxford university predicted that things would be better in 2017

it wasn't experts from Oxford University, if you're referring to the symposium that was carried on the news recently, it was the Oxford Business Group, they've been here for over a year (I worked with them as far back as Oct 2014) and essentially they did research within both the private and public sectors to compile a report on the potential investment opportunities in T&T, their optimism was based on the capital investments that the private sector intends to make in the next year in addition to (hopefully) increased production in the oil and gas sectors. Quite a few of UWI's economists/econometric professors agree that 2017 will see improvement, but they also advocate that there are certain measures that need to be taken and those measures are quite bitter

[Dizzy28]

I was at the OBG's launch on Monday
RBTT's economist Marla Dukharan was quite bleak on TTs current economic standing r.e. debt, currency value, transfers and subsidies
These are the things the country needs to hear.

[sMASH]

overall, generally, its the same thing being said there, with a noticeable point being that they have to cut some salaries. in this country, they raising taxes and cutting back on social systems, gate, cdap, school books etc. all in all, is tighten your belt, and gears up to look for a wuk.

Whose salaries got cut??

The Nigerians, they said they cut a lot of public service jobs.
Here, we got some oil/gas jobs cut.

Good thing is the inflation is steady and at a low rate. Thing is, I don't see it reflected in the real world.

[drchaos]

Banking sector has said that excess liquidity in the banks are dropping like a rock.

[dude2014]

Banking sector has said that excess liquidity in the banks are dropping like a rock.

Banking sector can say what they want. Tell us how much money you had in 2010, 2011.2012, 2013,2014, 2015 deposited by customers. You dont have to call names like Jwala Rambaran did.

Are they saying that people are removing their money from the bank, because essentially high liquidity is people having plenty money in the bank.

Incidently my father never had money in the bank, what he did was borrow money from a money lender around 1950 and bought a lot of land.

Morale of the STORY? Reduce your dependancy on the banks.

[drchaos]

Banking sector has said that excess liquidity in the banks are dropping like a rock.

Banking sector can say what they want. Tell us how much money you had in 2010, 2011.2012, 2013,2014, 2015 deposited by customers. You dont have to call names like Jwala Rambaran did.

Are they saying that people are removing their money from the bank, because essentially high liquidity is people having plenty money in the bank.

Incidently my father never had money in the bank, what he did was borrow money from a money lender around 1950 and bought a lot of land.

Morale of the STORY? Reduce your dependancy on the banks.

You do realize that excess liquidity is a bad thing and the fact that its going down is a good thing?

[dude2014]

Something occurred to me that I meant he bought over ten acres of land.

With regards to excess liquidity: the point about removing savings from the bank and its effect that the liquidity is dropping, means that there is more money in the ecconomy?

If this is so I am not seeing the effect, so it leads me to ask, where is the money going?

[eliteauto]

the question is where in the excess going? Liquidity is dropping whist the same is happening with loan rates which suggests that liquidity is not being mopped up by loan portfolios, so is it that ppl are investing their own cash into whatever they're doing now? That would make sense in the current climate where cash is king and there is a lot of wiggle room on prices when you come with cash esp in the upper end of the real estate market