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    July 18

  • 01:39 AM

IMF: Trinidad economy showing signs of improvement

CMC,

Added 11 May 2019

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WASHINGTON – The International Monetary Fund (IMF) says it believes that the Trinidad and Tobago economy “has started showing signs of improvement” from the second half of 2017.

Director of the Communications Department at the Washington-based financial institution, Gerry Rice, told a news conference that “broadly on the outlook for Trinidad and Tobago, we believe it has started showing signs of improvement from the second half of 2017 and is estimated to have actually returned to positive growth in 2018”.

He told reporters that the IMF would be updating that assessment in the upcoming World Economic Outlook (WEO) in July.

“On the question about our forecasts and projections, these were published in the April World Economic Outlook, the WEO. They were based on information that was available as of early March, including data provided by the authorities and published information from official institutions in Trinidad and Tobago,” he said.

“And again, the team will update those estimates in the context of the July WEO update using information available that should take us through early June including actual GDP (gross domestic product)  growth figures for the full year of 2018 which are expected to be released in the coming weeks,” Rice told reporters in Washington.

Earlier this year, the IMF predicted a 0.2 per cent growth in the Trinidad and Tobago’s economy this year.

Trinidad and Tobago Finance Minister Colm Imbert is due to present to parliament on Monday, May 13, the country’s Mid-Year Review for fiscal year 2019.

“A review of the performance of revenue and expenditure for the first six months of the fiscal year will be made. A Supplementary Appropriation Bill would also be presented,” according to a statement issued by the Ministry of Finance in that country. (CMC)

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