Healthy
economic performance on track
Trinidad Express
Port
Spain
Petroleumworldtt.com
07 22 07
The
nation's macro-economic performance over the first half
of this year was strong and the
outlook for the remaining six months is viewed
as highly positive.
Initial reports from market analysts thus far
indicate that positive results were achieved in
such key areas as inflation, unemployment, government
revenues, investments, consumer confidence and
monetary policy.
Government and private sector policies along with
a vibrant international energy market are largely
credited for the healthy economic performance in
the country.
As we enter the second semester, market analysts
largely agree that this positive economic trend
will continue through the rest of the year and
beyond.
On the international front, most experts forecast
that world oil prices should remain above US$70
a barrel while natural gas prices are expected
to average in excess of (Henry Hub) US$7 per mcf.
That constitutes a very solid scenario in terms
of foreign exchange revenues.
On the local front, the Government has been following
firm economic fundamentals ensuring a healthy environment
for private sector investment, an approach also
expected to remain in place. The efforts to keep
a lid on inflation and achieve and sustain a level
of full employment have been successful.
Over the next few months general elections will
be called and it stands to reason that the nation
will see an intense campaign very likely leading
to important developments on the political front.
However, analysts have concluded that neither the
electoral process nor the eventual outcome of the
polls will pose any threat to the country's macro-economic
fundamentals or policy direction.
In such a scenario, the nation can look forward
to sustained economic prosperity and a healthy
business environment, two fundamental ingredients
in any thrust aimed at achieving developed country
status in the not-too-distant future.
Trinidad
Express
Wednesday, July 18th 2007
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