I recently heard that David Abdulah was saying this country is headed for a recession. While undoubtedly there is need for concern with the fluctuation in hydrocarbon prices, it should be acknowledged that external forces are responsible for this precipitous fall. While T&T has no means of manipulation of the price of hydrocarbons, it is totally at the mercy of global economic forces of supply and demand.
However, given the fact that we are price takers, a recession is not necessarily an automatic consequence if there is a fall in prices. What is needed at this time is astute management of the economy.
Proper economic policies and strategic spending will negate and possibly prevent any negative fallout from this commodity price fall.
What is definitely not needed from those in society who aspire to leadership positions is being the bearer of bad news without being cognisant of how that bad news could affect the nation.
We need decisive management, and we are seeing that the prime minister is prepared to go the distance to contain any possible economic crisis. What is needed from all is an effort to put country first and stop using this critical event for cheap political points. Better than that Abdulah!
Anil Roopnarine,
Couva