Barbados, T&T slow to change
THE CHIEF EXECUTIVE of one of the largest Trinidad and Tobago companies operating in Barbados says the Government in Bridgetown “has not really bitten the restructuring agenda.”
CEO of Massy Holdings Ltd, Gervase Warner, was responding during an interview in Port of Spain last week Friday on how the conglomerate was able to generate a two per cent increase in its third-party revenues for the nine-month period ending June 30, 2017, even as its two largest markets, Barbados and T&T, face economic decline.
The Trinidadian national said the group had experienced strong growth so far in 2017 in third-party revenue in Colombia and more moderate growth in St Lucia and Guyana.
But he described the Barbados and T&T markets as “tight” currently, which he expects to continue into next year. He says the “tightness” in T&T should ease somewhat by 2019 as a result of increased natural gas output, which should lead to more profits from the country’s downstream petrochemical producers, more revenues for the government and enhanced flows of foreign exchange. (AW)
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