PM: Country's business, future in good hands

Despite T&T being given a downgrade from Rating Agency Standard and Poor's, Prime Minister Dr Keith Rowley is assuring the country that its business and its future are in good hands.

In a message posted o his Facebook page, Dr Rowley admitted that while T&T is still rated with an investment grade, the country is still in serious difficulties.

The downgrade is as a result of S&P’s projection of a reduction in gas production. 

The PM said the government was "not on that wave-length," making mention of his recent trips abroad to meet with all the major energy players. 

"That trip was to make sure that this prediction of a reduction in gas production does not come to pass," Rowley said.

He noted that Standard and Poor's are also predicting a loss in oil production but added that Petrotrin has gone from drilling zero wells to Heritage now drilling 16-18 wells.

"That prediction will not come to pass," Rowley assured.

He noted, however, that the rating agency has upgraded T&T's outlook from negative to stable.

"The reason for this is our favourable external profile and our stable democracy. They also say it reflects on the country’s solid level of government financial assets and good fiscal and external performance,"Rowley said.

He added that government's assignment as "unpleasant" as it is, is to run the country on $10 billion less.

"Any government that is not prepared to take the hard decisions for the people’s interest, is a government that you have no use for," Rowley added.

- by Geisha Kowlessar-Alonzo

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