Kamla: TT still in recession

THIS country is still in a recession with mass retrenchments expected to occur in the state enterprises sector next year.

Opposition leader Kamla Persad-Bissessar was commenting on a statement by Trade Minister Paula Gopee-Scoon, who at a Christmas function hosted by the Greater San Fernando Chamber of Commerce on Saturday night said TT experienced a “pretty slow recovery” in 2018.

“The recession is over and it’s going to be a pretty slow recovery. We targeting 1.9 percent growth this year and in 2019 and we expect greater growth after. 2019 is a year for thinking about how you can participate in the growth that will come in the economy.”

But speaking to reporters during her annual toy drive in Barrackpore yesterday, Persad-Bissessar said growth level has decreased to the unprecedented levels.

“Growth has gone down so low that even if it is a tiny piece they would say positive growth because it is so bad. It is like you say inflation is down but inflation is already gone up.”

“I don’t not agree with the trade minister. The recession is not over. I do not project any significant growth next year because there are no projects, nothing is happening in the country. There are no projects taking place and the only way you would get growth is if there is productivity, there is no productivity taking place in the land.”

She said mass lay-offs was also expected at state enterprises such as WASA and TTEC should government persist on its present course of action regarding the economy.

“If the government continues on the path they are going and I see no reason for them to change because they are totally incompetent and incapacitated to govern the answer is yes…there are other areas starting with TSTT, they are talking a lot about WASA, there is TTEC. If they continue on this pathway, on this trajectory there is going to be more mass unemployment next year.”

And regarding the crime situation, she said the National Security minister is “absent’ from the job even as the murder rate topped 500.

“It is very clear that government has failed miserably when it comes to the fight against crime, when it comes to managing the economy, while driving through these areas, you can see the crumbling infrastructure, the collapsed sea bridge, in every arena of life, government has failed miserably.”