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rspann wrote:Let's do this. Victory in 2020. Great is the PNM .
Browne: Downgrade not a surprise
Clint Chan Tack
STANDARD and Poor’s (S&P) downgrade of TT’s credit rating from BBB+ to BBB is no surprise. This was the view yesterday expressed by former government minister Mariano Browne, economist Dr Vaalmiki Arjoon and TT Chamber of Industry and Commerce CEO Gabriel Faria.
Browne did not share the Prime Minister’s optimism about S&P’s economic outlook for TT. He said the report does not provide any evidence that the necessary steps are being taken to balance the budget. Browne recalled former finance minister Larry Howai promised to balance the budget by 2016 but never did so. As TT sits on the cusp of successive elections, Browne doubted the issues raised in S&P’s outlook would be addressed by the Government.
“We are in a difficult position,” he said. Browne explained that the stable economic outlook which S&P gave TT, means “we are at the bottom of the trough.” He said there is no indication as to which direction the economy will go. Browne said TT’s situation was similar to a frog in a pot of water, which is being slowly boiled and the frog does not know its being boiled alive until it is too late.
Arjoon said, “The most direct implication is that we will face increased difficulty in accessing loans from foreign countries.” He said decline in revenues in recent years, continued under performance in the non-energy sector and expected fall in LNG production from Atlantic Train One, means “we will attempt attempt to acquire more debt from the foreign market, to meet our budgetary obligations, especially since we are going into elections mode.” Arjoon said TT’s debt repayment capacity will become more challenge and “our economy as a whole continues to be risky.” He added “The downgrade also signals increased uncertainty and shattered confidence in the economy.” Arjoon warned that if we are not careful, the state will continue to borrow in the coming years “ which will continue the cycle of downgrades and financial stress.”
While the consolation was the outlook was stable, Faria said stable is not acceptable in our current situation. “Continuing to do what has been done will result in a predictable outcome. Stable performance at best,” he said. Faria said it is important for Government, business and labour to work together to move the outlook from stable to positive. He evidence of this can be found in Jamaica, where all stakeholders worked to improve that country’s economy.
“To change these outcomes, we have to stop reacting and take a decisive and proactive approach to deal with the situation. Faria also said the revenue authority must be implemented as soon as possible “to improve tax collection rather than continuing to increase the tax burden on the individuals and organisations which are already compliant.” He said S&P also referred to a lack of timely economic data. Faria observed this is something that has been discussed for so long “but is still outstanding.”
zoom rader wrote:^^^ the avg and street PNM person don't understand these things.
But they know kamala theef
Nope the PNM ppl that understand it are the ones that cheat and use it to their advantage, e.g. Forex.matix wrote:zoom rader wrote:^^^ the avg and street PNM person don't understand these things.
But they know kamala theef
Don’t use average. It’s just a PNM person conveniently wouldn’t understand these things.
kstt wrote:So Retired Justice Ventour showed his political bias in the Emailgate enquiry and now he heading a COE for the PNM?
shake d livin wake d dead wrote:I waiting for Glenda to pass by me too...same fcking response she getting...hymc
bluefete wrote:shake d livin wake d dead wrote:I waiting for Glenda to pass by me too...same fcking response she getting...hymc
You know how long I ent hear dat name.
What she doing? Collecting salary and pension orr?
She a minster or something?
shake d livin wake d dead wrote:bluefete wrote:shake d livin wake d dead wrote:I waiting for Glenda to pass by me too...same fcking response she getting...hymc
You know how long I ent hear dat name.
What she doing? Collecting salary and pension orr?
She a minster or something?
Some minister in nat sec, collecting big pay plus police pension and nothing has changed in Grande...not one mc...only time I ever saw her was in 2015...I might see her for locals this year
pugboy wrote:nah man, the illegal quarrying man who she tight with change plenty things to suit himself
You need to align yourself with him and all will be well
bluefete wrote:pugboy wrote:nah man, the illegal quarrying man who she tight with change plenty things to suit himself
You need to align yourself with him and all will be well
Abu??????
bluefete wrote:shake d livin wake d dead wrote:bluefete wrote:shake d livin wake d dead wrote:I waiting for Glenda to pass by me too...same fcking response she getting...hymc
You know how long I ent hear dat name.
What she doing? Collecting salary and pension orr?
She a minster or something?
Some minister in nat sec, collecting big pay plus police pension and nothing has changed in Grande...not one mc...only time I ever saw her was in 2015...I might see her for locals this year
Yuh mean to tell me allyuh still have volcanic craters for roads in Grande? Last time i went up there, late last year, I almost had to get brand new shocks. And that was only from driving on the Main Road.
MaxPower wrote:Hahaha Anderson is such a pantyman eh.
Dunno why these sheltered khoolie boys like to feel being around ah set ah creole is some rank. He does get tax normal normal like a bobolee from them pests and he doesnt even know it.
kstt wrote:Anyone else find $500 million for 530+ properties not that outrageous?
Considering the price of property today.
When the majority of the population lack the ability to think critically... They take full advantagescrewbash wrote:500000000.00/530 = 943396.22 per property wich is jus under 1 million per property.so whats the big woop dey? rohanni family in curepe with d blu house get abt 5 times dat for the frontgate.
yung is a next kant trying to destract the cuntry from som bs that the govt do again. jus like bring all dem spanish here to destract the closure and sale of petrotrin and other downstreem companies.
kstt wrote:Anyone else find $500 million for 530+ properties not that outrageous?
Considering the price of property today.
kstt wrote:Anyone else find $500 million for 530+ properties not that outrageous?
Considering the price of property today.
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