The Ministry of Finance says the "stable" outlook that Standard and Poors has given this country, reflects a belief that the current economic policies employed by the Government are working.
The Ministry says fiscal and monetary policy adjustments also contributed to the stable outlook.
The Ministry issued the following statement Tuesday morning:
"On April 21, 2017, Standard and Poor’s (S&P) lowered its long-term sovereign credit ratings for the Republic of Trinidad and Tobago from “A-” to “BBB+”.
The Central Bank's Monetary Report is showing an increase in the unemployment rate but a containment of the rate of inflation.
The report was released today.
"Since the last Monetary Policy Announcement in September 2016, oil prices rallied to a 15-month high of near US$50 dollars per barrel (WTI) in October, but have declined since.
Though oil prices generally remained low, they improved in the third quarter of 2016 and averaged US$44.9 compared to US$39.4 in the first half of the year.