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Trinidad Business Chamber responds to inflation indicators
Saturday, August 12, 2006
by Stephen Cummings
Caribbean Net News Trinidad and Tobago Correspondent
Email: stephen@caribbeannetnews.com
PORT OF SPAIN, Trinidad: The Trinidad and Tobago Chamber of Industry and Commerce is calling for government to take immediate measures to ensure that citizens maintain an adequate standard of living in light of reports of the country's worrying inflation indicators.
The Chamber has identified inflation as the single biggest risk to Trinidad and Tobago.
Central Bank Governor, Ewart Willliams, has been sounding warnings to the country with respect to increasing inflation and has recently proposed some solutions.
The Trinidad & Tobago Chamber of Industry and Commerce says it has also noted with concern the continuing inflationary pressures which have resulted in headline inflation increasing to 7.2% at the end of 2005, a trend which is persisting throughout 2006.
The Chamber has also supported statements made by Central Bank Governor, Ewart Williams calling for an increase in agricultural production as a key solution to controlling inflation.
It recommends for the 2006/7 national budget that emphasis be placed on the importance of diversification of the economy through the development of the non- energy sector and especially the agricultural sector.
It also recommends the development of an incomes policy for Trinidad & Tobago, which incorporates productivity incentives.
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