Home Businessuite News24 Trinidad and Tobago Economy Continues To Adjust Slowly From The Decline In International Energy Prices Since 2014
Trinidad and Tobago Economy Continues To Adjust Slowly From The Decline In International Energy Prices Since 2014

Trinidad and Tobago Economy Continues To Adjust Slowly From The Decline In International Energy Prices Since 2014

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Trinidad and Tobago Central Bank Governor Alvin Hilaire said this week that the domestic economy continues to adjust slowly to the terms of trade shock, as a result of the decline in international energy prices since 2014. This has translated into a reduction in foreign exchange inflows and an erosion of fiscal buffers. The resulting contraction in economic activity has negatively affected private credit demand. At the same time, the Government has increased domestic financing. It’s against the backdrop of significant macroeconomic challenges, the financial sector remained stable in 2016 said Governor Alvin Hilaire. BM

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