The American Chamber of Commerce of Trinidad and Tobago (AmCham) is one of those organizations you don’t usually expect to hear much from about on the state of the (local) economy, but when the T&T Government revealed its 2011 – 2012 budgetary expense sheet the group lost it! (Alright, that’s a bit extreme, but they really weren’t happy).
The budget for 2011 to 2012 represented our largest budget expenditure to date, of which $7.6 billion was deficit financing. The Government has subsequently gone back to Parliament to ask for an additional $2.2 billion.
Vice President of the American Chamber of Commerce of Trinidad and Tobago (AmCham) Hugh Howard raised the alarm at the opening of AmCham’s monthly seminar on the economy at the Hilton Hotel, St Ann’s. He stated:
“We at AmCham are very concerned these indicators are not positive and we believe that the Government’s injection of funds into the economy must be carefully managed and must be part of a sustainable plan towards development.”