Last update: 05-Dec-2013 12:18 pm
Thursday, December 05, 2013
Trinidad & Tobago Guardian Online
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Former minister Conrad Enill: Govt needs to emerge from deficit financing faster
There is a suggestion that the People’s Partnership needs to come out of deficit financing at a faster pace, said Conrad Enill, former minister in the Ministry of Finance.
Speaking to Business Guardian on Tuesday at the T&T Chamber of Industry and Commerce’s post-budget panel discussion at Port-of-Spain’s Capital Plaza Hotel, Enill said deficit financing can have negative repercussions for future generations and steps should be taken to expedite the process.
“The deficit financing issue has more to do with, in my mind, with tailoring expenditure and that is something that (the Government) needs to deal with urgently because what you are doing is that you are picking up a burden for future generation. We need to move to a more balanced budget a lot faster.”
In delivering the budget on Monday, Howai said, “The Government is successfully containing the fiscal deficit in accordance with its policy objectives and is on course to bring the fiscal accounts into balance by 2016.
“I am projecting a fiscal deficit of $6.357 billion or 3.6 per cent of GDP, down from the 4.6 per cent in the FY2013 budget.”
Enill said the People’s National Movement administration struggled to balance the budget.
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