TTMA ‘optimistic’ about Budget

The TT Manufacturers’ Association (TTMA) says it is “optimistic” about the Budget which will be presented in Parliament on Monday.

This follows a meeting with the Finance Ministry where both parties discussed the TTMA’s recommendations for the next fiscal year.

Describing the talks as “very encouraging”, the TTMA said it left the meeting “feeling optimistic that positions presented by the Government and (its members) can chart a way forward for the nation’s economy.”

TTMA President Christopher Alcazar, said the association”remains resolute that although this is a difficult time, the Minister of Finance (Colm Imbert) will deliver some critical points in the budget presentation as discussed with us and which we feel would point us in the right direction to allow the manufacturing sector to be among the leaders in the diversification drive.”

In a statement issued on September 28, the TTMA also commented on observations made by Prime Minister, Dr Keith Rowley and Imbert, during the “Spotlight on Trinidad and Tobago’s Financial Circumstances”, at Hyatt Regency, Port-of-Spain on September 28.

“The observations made from the pronouncements by (Rowley) and (Imbert) have been that the business community of TT should continuously work to grow the sector of the non-energy economy, to increase production, employment and foreign exchange and in so doing aid in the diversification drive.” Being in support of this, the TTMA said it is committed to working with Government “to create an enabling environment that would allow the business community, and the country as a whole, to be placed on a sustainable path of economic growth and development in the not too distant future.”

The association also welcomed Government’s decision to put measures in place to assist the growth and development of the manufacturing sector. “Inclusive in this direction was the creation of a framework that would offset the burden of any additional taxes that has the potential to negatively impact businesses which would cause disincentives to the sector,” the TTMA stated.