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TT Chamber CEO cautiously optimistic after PM's address

Gabriel Faria

By Shane Superville / TT Newsday

Petroleumworld 01 08 2019

TT Chamber of Industry and Commerce CEO, Gabriel Faria, said while he was unable to make an official statement in response to the Prime Minister's national report on Sunday and Monday, he felt "informed" and hoped to see more projects aimed at developing and diversifying the country's economy.

Speaking with reporters this morning during a pre-trade mission seminar to Jamaica, at the Chamber's Westmoorings building, Faria said he needed to have a discussion with his technical team before making a statement, but was reassured of the country's economic potential by international rating institutions.

He said while challenges relating to foreign exchange continue, there was some improvement among some businesses.

"I think the one thing I have found is feedback from the multilateral organisations, like Moody's and the IMF, everyone is saying based on the increased gas production and the increases in oil pricing that we are seeing the benefits of that.

"In talking to some of our members, some of them have seen a slight uplift in their business. Even in terms of foreign exchange, which has been a concern for a lot of people. The problem isn't solved but there has been an improvement in accessing foreign exchange."

Faria said while these improvements were a relief, they were too small to be considered the beginnings of a turnaround in TT's economy.




Story from TT Newsday
01 08 2019

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