PORT-OF-SPAIN: Prime Minister Kamla Persad-Bissessar is projecting an expanding economy that will see a significant increase in jobs by 2020.
“With the pace we intend to drive the economy over the coming six years, we project the creation of over 30,000 new, well-paying jobs,” she said during a meeting with the nation’s business community last week.
The Prime Minister said the short and long-term prospects for the country are a far cry “from a position of decline and instability in 2010”.
Persad-Bissessar said this is the opportune time for more dialogue between the governing politicians and the business community.
“It is now that our discussions (should be) on how government can further work to provide an enabling business environment and a better platform for your growth, expansion and entry into new sectors,” she said.
During the meeting, Persad-Bissessar discussed several economic signposts that point to an economy on the upswing.
“We are now in a position of stability and growth, with projections of even stronger performance as we proceed into 2015 and beyond,” she said. “Our economy is expected to maintain a positive momentum into 2014 with growth of 2.9 per cent forecasted in 2014, and up to 3.2 per cent in 2015. Today our nation’s exports and foreign direct investment are at their highest levels than at any other time in history.”
Persad-Bissessar also discussed the nation’s success in the non-energy sector that is being driven by an aggressive fiscal stimulus program.
“Our international credit standing remains strong, having been affirmed by major global authorities such as Moody’s Investors Services based on relatively high income levels, our large and diversified energy sector, and the expansion of the economy which is mainly in the performance of the non-energy sector,” she said.