Finance Minister Colm Imbert says latest data shows that T&T’s economic growth is now projected to be between 1.5 and 1.8 per cent based on better than expected increases in natural gas production. He said this is consistent with figures given by Standard and Poors in its latest credit rating of the country.
For the last three years, production of gas in the first half of the year generally turned out to be greater than production in the second half. However, there was a turnaround in the latter half of 2017, with a significant increase in gas production.
Finance Minister Colm Imbert says claims that the arrival of the Galleons Passage vessel will be delayed by a month are an exaggeration.
The minister was responding to information posted by Sea Transport in China.
The US$17.38 million vessel is currently docked in Honolulu.
It is expected to journey to Panama and then to Cuba to be outfitted with seats before traveling to Trinidad.
The final sailing is expected to take around 10 days which would means the vessel could arrive in the first week of May.
Prime Minister Dr Keith Rowley has left the country to attend the 29th Inter-Sessional Meeting of the Conference Heads of Government of CARICOM in Haiti.
The meeting will be held from February 26th to 27th in Port-au-Prince.
Dr Rowley left the country on Sunday to attend the conference.
Minister of Finance the Honourable Colm Imbert will act as Prime Minister for the period that Dr Rowley is out of the country.
The prime minister is expected to return to Trinidad and Tobago on Wednesday.
Finance Minister Colm Imbert has told the House of Representatives that the credit card purchases originating in Trinidad and Tobago, consumed US$1.2 billion in 2017.
A further US$1.8 billion dollars was injected by the Central Bank to buffer the TT dollar to the US dollar exchange rate.
The breakdown is as follows:
Credit Card Purchases in 2017:
January - US$108.5 million
February - US$70.5 million
March - US$94.1 million
April - US$68.3 million
May - US$100.5 million
June - US$90.4 million
July - US$101.6 million
Former housing minister Dr. Roodal Moonilal is questioning whether public housing policy is being held up by a personal feud between two key players.
According to the former housing minister, the prime minister must explain whether the Finance Minister Colm Imbert is declining to give a government guarantees to NH International Caribbean Limited because of an ongoing private legal row involving the minister and the company’s chairman Emile Elias.