THE severity of Government's revenue loss requires further cuts in its expenditure, tightening of revenue collection and possibly exchange rate adjustment.
“If the demand for foreign exchange is not curtailed we will eventually be forced to live with the rate determined by the market,” Prime Minister Dr Keith Rowley warned as he addressed the audience at the “Spotlight on Trinidad and Tobago's Financial Circumstances: The Road Ahead” forum held at the Hyatt Regency (Trinidad) hotel in Port of Spain yesterday.
Stressing his determination to keep the country away from the International Monetary Fund (IMF), Rowley painted a picture of economic decline that required “patience” and understanding on the part of the population and painful decisions on the part of the Government.
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