Enill: Dookeran wrong on economy

Commenting on Dookeran’s remarks, made at a business conference on Wednesday, Enill said these claims were unfounded and TT’s economy was strong, as was reflected in an International Monetary Fund (IMF) report.

In that report, the IMF said TT’s economic growth was “robust,” unemployment was at historic lows and government finances (including the balance of payments) were registering large surpluses.

The minister said the economy’s growth and capital intensive programme currently being undertaken by Government had their respective challenges and Government was dealing with them. Using financial liquidity as an example, Enill said Government was looking at various strategies to deal with it. He reiterated that Government continues to place sizeable sums into the Revenue Stablisation Fund which at the end of 2005, had a total sum in excess of $5.4 billion. The minister said this information was available in the Auditor-General’s 2005 Report which was laid in Parliament.

On claims by former PNM finance minister Wendell Mottley that the gasoline subsidy could reach $2 billion this year, Enill said no decision was made on the matter. Explaining that Government could afford to maintain this subsidy because of its current revenue situation, Enill said Government will monitor local and external events on a regular basis to determine what level this subsidy should be.