Opposition slams govt on economy

The Opposition slammed government with a motion in the Lower House yesterday, declaring that it has failed to present a viable plan to diversify the economy to place TT on the path of sustainable growth.

TT has been “plunged into a feeling of hopelessness, desperation, fear, gloom, depression and disappointment”, Opposition MP Fazal Karim, who moved the motion, said, because of broken PNM promises to create jobs, education for all, better healthcare and access, foreign investment, reduced crime and poverty, lower costs of living, and improved quality of life.

Karim also knocked government for underemployment. Citing statistics from the International Monetary Fund and the Central Bank, Karim painted a picture of declining revenues and prolonged negative growth. “Our economy is regressing!” he exclaimed.

Not to be outdone, delivering the Government’s response, Trade and Industry Minister Paula Gopee-Scoon fired back, saying the motion was based on “uninformed hyperbole.”

Gopee-Scoon argued that there was private sector confidence in the economy, and the estimated re-investments for this year were $246 million, with $665 million of new investments. In 2019/2020, she said the projected investment into the country would be $927.3 million.