T&T's energy-reliant economy is not doing well and as past history shows, there has been social unrest because of this economic instability, Dr Vanus James, professor, University of Technology, Jamaica, said yesterday.
"T&T is doing badly. Every time there is a decline in the oil and gas sectors, there is a social upheaval or revolution. You look at 1961, then 1970, then 1990 and this last round of instability in the politics, all relate to downturns in the economic fortunes. That is because the economy is not structured adequately and needs to be restructured," he said.
Dr James spoke to the T&T Guardian yesterday after his presentation at Eclac in Port-of-Spain on a concept paper Foreign Affairs Minister Winston Dookeran presented to regional bodies at the Conference on Sustainable Development in March.His comments followed claims by Central Bank Governor Jwala Rambarran and Planning Minister Dr Bhoe Tewarie that T&T's economy is on a growth path.
